The Ministry of Planning and Investment (MPI) has warned about the increasing use of foreign peer-to-peer (P2P) lending in Việt Nam with potential risks of black credit.
In a document sent to lenders this week, the SBV said the fourth Industrial Revolution has promoted the development of many new products and services, including P2P lending, which directly connects borrowers with lenders.
The State Bank of Viet Nam (SBV) has warned local people and firms to consider carefully and be cautious before taking part in peer-to-peer (P2P) lending as there are many potential risks related to the service.
Viet Nam’s financial marketplace and peer-to-peer (P2P) lending platform Tima has raised US$3 million in Series B funding from Belt Road Capital Management (BRCM), a Greater Mekong-focused private equity fund, Tima announced on Monday.
Peer to peer, or P2P, lending has been developing rapidly around the world in recent years with the establishment of many online lending companies, experts have said.