Law on Credit Institutions (amended)

According to VAMC, when banks lose the right to confiscate collateral, handling bad debts becomes even more difficult, taking a lot of time and litigation costs. Photo: Hai Nguyen.

Proposal to legalize regulations on banks being allowed to confiscate assets

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The State Bank proposes to legalize the regulation of prioritizing the confiscation of collateral assets, helping banks handle bad debts faster and limiting prolonged disputes.