Further improving PCFs’ operational efficiency

Early March 6, the State Bank of Vietnam’s Binh Duong branch organized the 2024 symposium on People's Credit Funds (PCFs). In 2023, the operational situation of the PCF system in the province was quite stable and effective. Although having difficulties, the local PCFs tried their best to overcome them.

Every year, the local PCFs always mobilize, attract and admit new members. The whole province has so far had a total of 10 People's Credit Funds operating in 9 districts, towns and cities with 20,854 members. The activities of the local PCFs play an important role, opportunely providing members with capital for economic development, improving people’s living standards, creating jobs for them, contributing to building up new-style rural areas and preventing usury.

At the symposium, delegates focused on discussing the local PCFs’shortcomings and proposed amendments to a number of legal regulations to remove difficulties and continue improving their operational efficiency...

Reported by Thanh Hong-Translated by Kim Tin