Many workers and laborers in Binh Thuan reported being forced to buy insurance when borrowing capital at some banks in the area.
According to the reporter's research on this type of insurance, it is known that depending on the bank, there will be insurance packages such as loan insurance...
Responding to this issue, Mr. Ly Van Hoai Vu - Deputy Head of General Department - Accounting, The State Bank of Vietnam - Binh Thuan Branch said that the unit has invited banks to work and requested that when lending, banks must not force and must not attach the sale of insurance products to their loan products.
Commercial banks in the area have also complied with this request. And have set up a hotline to receive information and feedback from people on this issue.
Recently, this hotline has received a number of calls reflecting on the need to buy insurance when borrowing money from banks.
The State Bank of Viet Nam - Binh Thuan Branch has worked with the customer and the bank being reported.
“If people have any complaints about being forced by banks to buy insurance when borrowing money, please contact the hotline of The State Bank of Vietnam - Binh Thuan Branch at 02523822815, so that the State Bank can check and handle it according to regulations,” Mr. Vu emphasized.
The State Bank of Vietnam - Binh Thuan Branch has also issued many directives for credit institutions to operate insurance agents in accordance with regulations. Directing banks and credit institutions to review and seriously rectify insurance agent activities, provide information on insurance products and clearly and fully explain insurance benefits, rights and obligations of insurance buyers, and explain to customers that insurance products are not bank products. Do not arbitrarily declare information without the consent of the insurance buyer and strictly prohibit acts of forcing customers to buy insurance in any form.
