National Assembly discusses draft resolution on handling bad debt by credit organizations

The National Assembly debated Wednesday a draft resolution on bad debt settlement by credit institutions.

The legislators agreed that it's the right time to create a legal basis for asset disposal to settle bad debts in the banking sector. Settlement should follow two principles: independence from the state budget and punishment for those who create bad debts. Deputies proposed close monitoring to reduce bad debts in the future.

The Assembly also worked on a draft law that amends and supplements the Law on Credit Institutions and held a Q and A session with Governor of the State Bank of Vietnam Le Minh Hung.

An amended Law on Forest Protection and Development and a revised Law on Fisheries were discussed in groups during the afternoon session.

Source: VOV5