Author: Asean Today

The China Banking Regulatory Commission (CBRC) on 24th August officially released “Interim Measures for Administration of Peer-to-Peer Lending Information Intermediaries” (hereafter referred to as “Measures”). An information intermediary rather than a financial institution defines a P2P lending institution or platform. Measures also published a negative list of P2P’s business scope, except for the item that the clients’ money must fall under the third-party depository. After a 12-month transitional period, all P2P platforms in China are not allowed to take deposits, make loans, advertise offline and manage financial products, no mention to finance their own. The extraordinary growth of P2P Lending…

While China’s Banking Regulatory Commission (CBRC) doesn’t allow banks to issue credit cards to college students below 18, they tend to find alternative methods of paying their studying loans, like “naked” loans through P2P lending platforms. There have even been incidents of students commiting suicide due to the burden of their debt addressing the need to strengthen the supervision for damaging school loans and to ban any form of debt collection. China’s Banking Regulatory Commission (CBRC) in 2009 set strict stipulation on issuing credit cards. Banks are not allowed to issue credit cards to college students below 18 years old.…

Vietnamese lenders make up a fifth of the top 100 ASEAN banks in 2016 says The Banker, a leading financial industry publication. It is an interesting situation. Vietnam’s banks actually have 19 representatives on the top 100 list this year, growing their assets by the second highest amount in the region – an impressive 15.66%. However, the same report also underlines that only 30.86% of the population aged 15 or over have a bank account. That leaves 60 million people without access to banking services. Or at least, access to traditional banking services. The millennial boom Although historically a cash…