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Sunday, July 14, 2024

HoREA suggests continuing lending to borrowers with secured assets

By Viet Dung

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HCMC – The HCMC Real Estate Association (HoREA) has written to the prime minister and the State Bank of Vietnam proposing continued lending to clients with secured assets.

Give its feedback on the draft of an amended circular, HoREA suggested giving loans to customers who intend to open savings accounts to show proof of financial capacity to study and travel abroad or attend auctions if they have assets for collateral.

Loans should be offered to customers with assets to make capital contributions and investments. The loans will help them contribute capital to establish new companies or cooperate with partners to invest or acquire stakes.

However, HoREA proposed not giving loans to those buying gold or settling debt.

HoREA said stricter lending requirements should apply to sectors that are not prioritized to access credit.

Furthermore, the association agreed with the supplementation of a regulation stipulating that credit institutions must not give loans used as deposits for future transactions. The regulation will not affect real estate firms whose projects are eligible for capital mobilization.

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