Vietnam Export Import Commercial Joint Stock Bank (Eximbank) has admitted that one of its former branch executives is on the run overseas after appropriating savings worth over US$10 million from a ‘VIP’ depositor. Rumors have been circulated online that Le Nguyen Hung, a former deputy director of the lender’s Ho Chi Minh City branch, used faked papers and forged authorization letters to steal VND245 billion ($10.79 million) from different savings books of a customer only known as B. Eximbank leaders on Thursday confirmed those allegations are true, adding that Hung has fled Vietnam. While it is clear that Hung committed a fraud, a lawsuit is needed to determine if B. could get her money back, Eximbank CEO Le Van Quyet told reporters in Ho Chi Minh City. Quyet explained that all the papers Hung used to make fraudulent transactions to appropriate the money were found with the authentic signature of B. The case should therefore be carefully investigated and Eximbank will follow any ruling given by the court, according to the CEO. As a ‘VIP’ customer, B. insisted that all transactions be made at her residence, instead of at the bank, according to Bui Thi Thien Tam, director of the Eximbank Ho Chi Minh City branch. The lender will normally send two to three employees to the customer’s home to conduct transactions of this kind, but B. had particularly requested that she worked with Hung only, Tam added. “B. once told Eximbank that she did not want to make contact… [Read full story]
HA NOI (VNS)— The merger of Sacombank and Eximbank is a serious possibility and not merely a rumour, with Eximbank chairman Le Hung Dung this week admitting that the two banks have been in negotiations. The merger talk was initiated when Eximbank acquired a 9.73-per-cent stake in Sacombank from the ANZ Banking Group. Virtually no information was disclosed about the deal, prompting rumours of a merger being in the pipeline. Dung told Thoi bao Doanh nhan (Entrepreneur Times) that the merger would be a good idea if it met necessary conditions. The merged bank would become a major player in…... [read more]
HA NOI - Overseas contract workers from Viet Nam return home with up to $15,000 each in savings after three years, statistics show. The details on contract workers returning from Malaysia, Japan, Taiwan and South Korea in 2010-11 were released yesterday in a report by the Ministry of Labour, Invalids and Social Affairs. Around 90% of the contract workers returned home with savings, the report said. Those with the biggest bank balances came from Japan and South Korea - each employee having accumulated VND243 million ($11,600) to VND312 million (US$15,000) after three years. Employees mainly used their savings to pay…... [read more]
VNGOP - The website on visa exemption for overseas Vietnamese was opened on August 29 at http://mienthithucvk.mofa.gov.vn. Published in Vietnamese and English, the website aims to provide overseas Vietnamese detailed instructions relating to the procedures and application for visa exemption. Those who want to obtain visa exemption can download the application form from the website. In the early phase, the online application will be piloted via the website in some important regions. Addressing the opening ceremony, Deputy PM, Foreign Minister Phạm Gia Khiêm emphasized that the website will facilitate the visa exemption procedures as well as reflects the Government's efforts in…... [read more]
This money has helped Vietnam to enter the list of the top 16 nations receiving overseas remittances in the world. One of the most important things is that overseas remittance was transferred via tangible channels (banking systems) instead of intangible channels (tourism, traveling by air, by ship…), thus making it easier to analyse statistics. Currently, money transfer services offered by Banks are very simple and convenient. Overseas Vietnamese relatives can receive money only 5 minutes after finishing the transaction, both in their home or at the Bank. Money should go to ATM accounts or transactions take place in the Internet…... [read more]
The Vinh Phuc native, 36, had been away for two years, working as a security guard in the United Arab Emirates. He was eager to see his son, only three when he'd left, and his family and friends. But he was also staring at an uncertain future, far different from the one he had dreamt of when he left Vietnam.His heart sank the moment he saw his name on the list of workers who were to be sent back to Vietnam. Debts taken to get the coveted overseas job and those incurred based on what he would earn there would…... [read more]
