The remaining are mainly people in rural and remote areas, many of them haven’t also known any financial services.
Many people in isolated areas have no bank accounts
|
SBV Deputy Governor Nguyen Kim Anh said that Vietnam’s Government and the banking industry have issued many incentive policies to aid the poor, vulnerable people and those in remote areas as well as micro and small firms, however, these people and firms are still facing challenges to be access to bank services and loans.
According to Anh, NFIS today becomes a global concern as it is the key to poverty reduction, social inequality and opportunities for many people for brighter future. The NFIS objective is fully in line with Vietnam's socio-economic development strategy.
International experience has also shown that countries that have adopted the NFIS have been able to achieve more comprehensive and successful financial goals. There are currently around 35 countries applying the NFIS and about 25 other countries in the process of developing it.
To deal with the shortcoming, Anh said, SBV is drafting the NFIS to enable increasing the ratio of accessing formal financial services for these people and firms. The NFIS is defined as access to and use of basic financial products and services including payment, money transfer, savings and insurance conveniently and appropriately with reasonable costs.
An effective and comprehensive NFIS will provide the foundation, roadmap and direction for Vietnam to successfully implement reforms, thereby achieving the nation’s comprehensive financial goals.
Under the non-cash payment till 2020, Vietnam also targeted to have at least 70 per cent of Vietnamese adults having bank accounts by 2020.
There will be also at least 20 bank branches and transaction offices for every 100,000 adults, about 30,000 ATMs, or 40 for every 100,000 adults, and points of sale (POS) will number 300,000, or 400 for every 100,000 adults by the year.
About 15 per cent of bank branches and transaction offices will be in rural areas. From 35 to 40 per cent of adults in rural areas will have savings accounts and from 50 to 60 per cent of small and medium-sized enterprise will have access to credit.
Under the plan, the ratio of cash to total payment instruments will be also set below 10 per cent by the end of 2020.
The plan also sets a target of gradually increasing the number and value of card payment transactions using card readers. By 2020, the whole market will have over 300,000 card readers installed at POS to process around 200 million transactions per year.
E-payment in e-commerce will be also promoted to achieve the targets of having 100 per cent modern supermarkets, shopping malls and distribution centers installed with card readers by 2020, which would enable consumers to make non-cash payments when purchasing goods.
By 2020, 70 per cent of electricity, water, telecommunications and communications service providers will accept non-cash payment of charges, while 50 per cent of individuals and households in major cities will use non-cash payment instruments in their shopping and consuming activities.
