“According to the insurers and banks, Article 113 of the revised Law on Credit Institutions, which took effect from July 1 this year, regulates commercial banks are allowed to carry out insurance agency activities in accordance with regulations of the Law on Insurance Business and the State Bank of Vietnam. It means that the Law on Credit Institutions allows commercial banks to consult and offer insurance products to customers. However, Clause 5 of Article 15 of the Law on Credit Institutions prohibits banks from ‘linking’ the sale of non-mandatory insurance products with the provision of banking products or services in any form.” – Viet Nam News
Source: Detailed guidance needed to have new insurance agency policy run smoothly (vietnamnews.vn)
Guidance Needed for Insurance Policy To Run Smoothly
