HCMC asks central bank to back commercial loans

The Ho Chi Minh City People’s Committee Saturday asked the State Bank of Viet Nam to ensure credit loans commercial banks have agreed upon with enterprises.

At a meeting with the State Bank governor Nguyen Van Giau in the city Saturday, HCMC authorities also asked the central bank to make sure businesses can buy and sell foreign currencies at prices regulated by Vietnamese law.

The State Bank promised to inspect loans and foreign currency exchange at banks in the city next week and punish any banks violating the rules.