Regulation of rotating credit and savings associations in Vietnam

From: Sidel, Mark <mark-sidel@uiowa.edu>

Date: 2008/6/23

To: vsg@u.washington.edu

Cc: Adam McCarty <adam@hn.vnn.vn>

Dear colleagues,

A somewhat specific question, which a longtime colleague who is not a Vietnam specialist has asked me.

Are the Vietnamese informal rotating credit and savings associations (known in the academic and microfinance world as Roscas, and I believe as hoi and by other terms in Vietnamese domestic and emigre communities) regulated in Vietnam? By law governing credit institutions, and/or cooperatives, or other rules? My colleague has heard that there is new law or regulation in Vietnam on the informal credit and savings mechanisms, but it is unfortunately not a field of law in which I've worked.

If anyone has any ideas about this, I'd be delighted to hear off-screen and to pass along any information.

Thanks and best wishes.

Mark

Mark Sidel

Professor of Law and Faculty Scholar

Lauridsen Family Fellow

University of Iowa

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From: Hue-Tam Ho Tai <hhtai@fas.harvard.edu>

Date: 2008/6/23

To: Vietnam Studies Group <vsg@u.washington.edu>

Mark:

Here is a link on "hui" that seems to address your colleague's query (and btw, congratulations on the human rights award!)

Hue-Tam Ho Tai

http://www.vietnamnet.vn/xahoi/doisong/2006/12/639541/