A road map is needed for the adjustment of Circular No 36 because the
real estate market has just recovered and shows no signs of a "bubble",
said Vu Quang Phan.
The amendments to Circular No 36 are meant to urge commercial banks to
strengthen the risk management of lending activities, rather than
tighten the credit sources for the real estate sector.
State Bank of Viet Nam Deputy Governor Nguyen Thi Hong has affirmed the
need for Circular 36, saying the regulations would help the Vietnamese
banking sector develop more safely.
Vietnamese individuals and organisations will be required to open and
use foreign currency accounts to engage in foreign direct investments
(FDI) in the future.