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All joint stock commercial banks must be listed before 2020

Wednesday - 06/03/2019 18:32
There are currently 17 out of 31 listed commercial banks, registering to trade on HoSE, HNX and UPCoM.
According to the project of Restructuring the securities market and insurance market to 2020 and orientation to 2025, the Prime Minister requested that by the end of 2020, 100% of commercial banks will list and register for official transactions. aiming to diversify goods base for stock market.

By the end of June 2018, there were 31 commercial banks operating but only 17 units were listed and registered for official transactions. Of these, 11 listed on HoSE, 3 listed on HNX and 3 registered on UPCoM.

The Prime Minister entrusted the Ministry of Finance to assume the prime responsibility for implementing this task, and at the same time coordinate with the State Bank to issue a Circular guiding the debt securitization, guiding commercial banks to provide compensation payment services on derivatives market, strengthen monitoring of capital flow between stock market and currency, foreign investment ...

The State Bank is also required to strengthen inspection and supervision of financial and banking groups, financial transactions and capital flows between credit institutions and securities businesses ...

In addition, in order to improve transparency and quality of goods on the stock market, the Prime Minister directed relevant units to promote the plan of equitization and divestment of the state in the period of 2017-2020 which previously approved. At the same time, establishing a standard interest rate curve on the financial market, issuing green bonds to raise capital for sustainable economic development, studying the possibility of issuing new bond products such as bonds floating interest rates, bonds attaching to inflation index ...

Scheme on restructuring securities and insurance market till 2020, the orientation to 2025 is set to aim at bringing securities into an important medium and long-term capital channel for the economy, building a suitable structure of the money market and capital market, between bonds and stocks, actively supporting the process of restructuring the state-owned enterprises and promoting the development of the private sector.

Author: Translated by CoPhieuViet.Com

Source: Vnexpress newspaper

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