On May 23, 2019, the delegation of the State Bank of Vietnam (SBV) led by the Standing Deputy Governor Dao Minh Tu visited Tinh Thuong One Member Limited Liability Microfinance Institution (TYM). This is an activity in the 2019 plan of the State Bank of Vietnam to review the operation of microfinance institutions and microfinance programs, thereby grasping and completing the appropriate regulations for effective and sustainable development of microfinance, contributing to strengthening financial access for low-income and disadvantaged people.
The delegation included representative leaders of different branches in Hanoi, HCMC and units of the SBV and the Vietnam Microfinance Working Group. At the meeting, General Director of TYM Duong Thi Ngoc Linh presented the report of TYM’s performance, difficulties and obstacles in complying with some current legal documents on microfinance. She also commented about the service introduction points in the draft circular regulating the operational network of MFIs.
Speaking at the meeting, Standing Deputy Governor Dao Minh Tu acknowledged the positive performance of TYM, and assigned relevant units of SBV to handle TYM’s proposals. In particular, the Deputy Governor asked the units to consider the policy, creating conditions for TYM to access domestic capital sources in compliance with the law, thereby providing more quality services at lower costs to people.
TYM hopes that after this SBV’s visit at TYM, the State Bank of Vietnam will take new steps to support the operation of microfinance institutions, creating opportunities for many people to access microfinance services in more convenient ways.[/caption]