Current Situation on Consumer Credit in Vietnam: Legal Framework for Formal Financial Sector

Maomi Iwase
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Maomi Iwase: Institute for Policy Analysis and Social Innovation, University of Hyogo

Japan Social Innovation Journal, 2011, vol. 1, issue 1, 40

Abstract: With low average income in Vietnam, many people purchase and enjoy expensive goods. Under the current legal framework on banking loan, low income people can buy them by “loan" from banks in Vietnam. In actuality, however, the formal sector appears to be inadequate in fulfilling their credit needs. In addition, some formal institutions maintain awkward and time-consuming procedures. So people may access informal or semi-formal financial sector as its own “consumer credit" systems.

Keywords: Vietnam; Legal system; Consumer credit; Bank loans (search for similar items in EconPapers)
JEL-codes: Y20 (search for similar items in EconPapers)
Date: 2011
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Persistent link: https://EconPapers.repec.org/RePEc:hyo:journl:v:1:y:2011:i:1:p:40

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