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The general office of the Bank of China Insurance Regulatory Commission issued a notice on Thursday, asking village banks to stick to their position, improve their ability to serve the Rural Revitalization Strategy, and do a solid job in risk prevention and control and disposal.
According to the notice, supporting agriculture and supporting small-scale development is the cultivation goal and market positioning of rural banks. We must always stick to taking root in the county and shall not handle credit extension, loan granting, bill acceptance and discount across business areas. We must always focus on the main business of credit. The newly increased loanable funds in that year should be mainly used for local credit, and the loans should be mainly used for County farmers, community residents and small and micro enterprises.
The CIRC also requires that we do a solid job in risk prevention, control and disposal. Village and town banks should establish a sense of compliance, prudence and stability, and always adhere to the concept of "small amount, decentralized" risk prevention and control. We should strengthen internal control and compliance management, and focus on key positions, personnel and business links. The main development bank shall earnestly perform its supervision duties and carry out regular job rotation and exchange with the person in charge of the finance and risk line of the initiated village and town bank.


please contact sales@tanchin.hk for any inquiry
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