navigate_nextMedianavigate_nextOur Newsnavigate_nextAgreement Preview Meeting of ACLEDA Bank and AGRIBANK

Agreement Preview Meeting of ACLEDA Bank Plc and AGRIBANK

Ho Chi Minh City, June 29 - July 02, 2006

Delegation of ACLEDA Bank Plc and AGRIBANK

The Senior Management of ACLEDA Bank delegation led by Mr. In Channy, General Manager of ACLEDA Bank Plc, took a three-day visit to Vietnam Bank for Agriculture and Rural Development (AGRIBANK) leaving Phnom Penh, Cambodia in the afternoon of June 29. The full meeting started at the Regional Office of AGRIBANK in Ho Chi Minh City at 08 AM on June 30, 2006 till late in the afternoon. The meeting focused on: (i) the promotion of bilateral agreement between the two esteem banks ACLEDA Bank and AGRIBANK; (ii) the preview of the implementation of the agreement; the issues arose from the implementation of the agreement; and (iii) the recommendation on the implementation of the agreement. After the fruitful discussion in the morning of June 30, 2006, the meeting agreed on:

• Branch managers are encouraged to exchange the list of companies doing businesses in both countries, especially in the provinces bordering with the two countries.
• Establishing the branches or offices counters in the border provinces close to the border to facilitate payment and settlement.
• AGRIBANK agreed and already submitted their request to the State Bank of Vietnam for the conversion of Vietnam Dong into other currencies.
• Branch Managers of the two-border branches are encouraged to contact each other and exchange information so that they can promote payment and settlement services even better.
• Join advertisement and marketing are encouraged by the management of the two banks and followed by exchanges of field visit.
• ACLEDA Bank encouraged AGRIBANK to open account in both KHR and USD to facilitate settlement, which AGRIBANK considered doing it immediately.
• AGRIBANK is required to send daily bank statements to ACLEDA Bank and vice versa. Now it is under computerization.
• Both ACLEDA Bank and AGRIBANK have reduced the fee.
• AGRIBANK agreed to provide training course on counterfeit note.

Branch visit and field trip started from the afternoon of June 30 till July 01, 2006 to Sai Gon, Mac Thi Buoi, Quan 10 and Can Gio Branch. The delegation learnt a lot from both the meeting face to face and from the field trip to the branches to see how each branch deals with payment and settlement transactions, took overlook on counter setting up, and discussed on anti-money laundering and fake currency (Dong). The ACLEDA Bank delegation returned back to Phnom Penh on July 02, 2006.