JavaScript is off. Please enable to view full site.

Indictment against bankers to clean up system

Indictment against bankers to clean up system

Friday, September 28, 2012, 16:55 GMT+7

The government spokesman announced Thursday that the indictment against prominent bankers is to clean up the sector, eliminate hostile bank takeover efforts and to restructure weak banks.

At this month’s regular government press conference in Hanoi, Vu Duc Dam, Minister, Chairman of the Government Office told the press that the restructuring of the banking system comprises many tasks, one of which is to duly punish those behind illegal hostile bank takeovers.

The government has instructed concerned authorities to investigate according to the law to reestablish order in this sector with the restructuring of weak commercial banks aimed at stabilizing the banking system.

“There is no forbidden zone”, Minister Dam asserted.

This reflected Prime Minister Nguyen Tan Dung’s statement last month that those behind hostile bank takeovers be punished “no matter who they are”.

The government has considered solutions to ensure stability and no bad effect on banking activities or on depositors, Minister Dam announced, adding that the indictment against some bankers is part of efforts to make the banking system healthy under the principle of equality before the law.

Police Thursday (September 27) announced the indictments against Tran Xuan Gia, former bank chairman and former government minister, and three other bankers.

Gia is former board chairman of Asia Commercial Joint Stock Bank or ACB. The three others are all former deputy chairmen of ACB.

The legal proceedings against them do not affect ACB’s operations. ACB under new leadership operates as normal, Minister Dam assured.

The restructuring of weak commercial banks could be complete by the end of 2013, he said.

tuoitrenews

More

;

Photos

VIDEOS

‘Taste of Australia’ gala dinner held in Ho Chi Minh City after 2-year hiatus

Taste of Australia Gala Reception has returned to the Park Hyatt Hotel in Ho Chi Minh City's District 1 after a two-year hiatus due to the COVID-19 pandemic

Vietnamese woman gives unconditional love to hundreds of adopted children

Despite her own immense hardship, she has taken in and cared for hundreds of orphans over the past three decades.

Vietnam’s Mekong Delta celebrates spring with ‘hat boi’ performances

The art form is so popular that it attracts people from all ages in the Mekong Delta

Vietnamese youngster travels back in time with clay miniatures

Each work is a scene caught by Dung and kept in his memories through his journeys across Vietnam

Latest news