Vietnam, Russia accelerate interbank payments

Source: Pano feed

(VOV) – Russia is making significant progress in bringing its commercial banking settlements up to international standards, a Vietnam-Russia Working Group for Inter-Bank Cooperation in Moscow announced on June 4.

A group representative announced that Interbank payments between Vietnam and Russia hit more than US$4 billion in 2013 and more than US$1 billion in the first quarter of this year.

Studies show that accelerating the settlements of payments has a positive impact on gross domestic product of a country, the representative said.

At the meeting, Deputy Governor of State Bank of Vietnam Le Minh Hung and Deputy Governor of the Central Bank of Russia Skobelkin Dmitry exchanged views on the operation of the two countries’ banking system and the implementation of reached agreements.

The Russian side was committed to encouraging its commercial banks to use available tools for boosting bilateral payment, especially national currency and retail payment methods.

The two central banks will increase information exchange on related policies, particularly the development of the Russian payment system and experience in using local currency in payment with China.

They pledged to cooperate in developing infrastructure for credit payment links, building Vietnam-Russia information gateway, using national currency in payment and encouraging commercial banks to accelerate payments through accounts, credit and money transfer.

The two sides signed the minutes of the meeting and agreed to hold the following session in Vietnam in 2015.

Đăng ký: VietNam News