Banking and Security Vietnam 2008 Conference is to prevent an economic recession

The Banking and Security Vietnam 2008 Conference opened in Ho Chi Minh City on Dec. 2 focused on several themes. And the main of them is VietNamNet Bridge – Developing commercial banks’ retail markets and banking security. 

State Bank of Vietnam (SBV)’s Governor Nguyen Van Giau opened the conference and noted that in order to prevent an economic recession the monetary and financial policies should be used more intensively and thoughtfully. 

The banks were advised to focus on investing in technology in order to ensure the stability, safety, sustainable development and competitiveness of the Vietnamese banking system.
However, Banking Vietnam 2008 is aiming to present and launch a series of new technological solutions that will help banks to resist the ongoing global financial crisis. For that purpose the banks are recommended to define their own modern banking service channels, effectively, manage and use payment systems, expand retail banking services. The prioritized issues of conference participants’ discussion were inter-bank technological systems, such as internet banking, homebanking and phonebanking. The participants also commented the necessity of high-quality banking service development. They said that is a vital issue for commercial banks. 
As Ta Quand Tien, Director of the SBV’s Department of Banking Information Technology noted the second phase pf an interbank e-payment system, has been started by SBV. And it is to connect 58 SBV affiliates and 1,500 commercial bank branches.

The first phase of the project helped the national banking system to conduct 24 million transactions, worth 26,000 trillion VND in total.