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SPEECH VIETNAMESE ACCOSIATION OF PEOPLE CREDIT. CONTROL AND SUPERVISION OF THE VIETNAM STATE BANK AND CENTRAL CREDIT FUND FOR PCF SYSTEM. PART 1: INSPECTION OF MONITORING FOR SB PCFs.
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SPEECH VIETNAMESE ACCOSIATION OF PEOPLE CREDIT CONTROL AND SUPERVISION OF THE VIETNAM STATE BANK AND CENTRAL CREDIT FUND FOR PCF SYSTEM
PART 1: INSPECTION OF MONITORING FOR SB PCFs Model PCFs was initiated by the State Bank Established in 1993, so far in Vietnam the system has 1040 PCFs and CCF with 25 branches operating on 56/63 provinces and cities; each PCF is an independent legal body, autonomy and self-responsibility for their own business activities and are linked closely together economically, according to which each PCF is a member of the CCF . In terms of organizational aspect, the PCFs and CCFs together formed the Association of PCFs in Vietnam to represent the interests and direction in activities of the whole system. • To help the PCFs operate effectively and safely delivered, Vietnamese Government authorized to the State bank of Vietnam the function of management over the activities of PCF system, including the supervision of the system operation of PCF.
PART 2: RELATIONS BETWEEN CCF AND PCF • Since each PCF is an independent legal entity but are with small scale activities, staffs with the limited knowledge and they work in the agricultural environment and rural areas that containing many risks, while the ability to confront their own risk of each PCF is very low. So for the PCFs to have stable operation and sustainable development in safety basis, the PCFs must be supported by economic institutions capable of implementing strong enough to support associated activities. That's why after the establishment PCFs in Vietnam two years the CCF was established on august of 1995 to support PCFs on a national scale. Due to the financial capacity of the PCFs is very small so the Vietnamese Government has contributed more than 90% support of the charter capital of the Central PCFs (2000 billion VND, equivalent to 100 million U.S. dollars) and handed to SB Vietnam Vietnamese government on behalf of the management of this capital in central PCFs. To perform management tasks mentioned above, the State Bank of Vietnam officials to join representatives of their board of PCFs central (one president of the board, as a general manager.) State Bank of Vietnam to manage and directing the activities of PCFs central staff through their representatives in this central fund PCFs.
