The Governor of Binh Dinh Orders Investigation into the Scandal at Ngo May Credit Fund

On August 29, the Office of the People’s Committee of Binh Dinh province informed that the Chairman of the provincial People’s Committee had just issued a document on implementing the direction of the Permanent Deputy Secretary of the Provincial Party Committee regarding the organization and operation of the Ngo May People’s Credit Fund (headquartered in Ngo May town, Phu Cat district, Binh Dinh province).

Accordingly, based on the direction of Mr. Le Kim Toan, Permanent Deputy Secretary of the Provincial Party Committee, at the meeting on some contents related to the organization and operation of the Ngo May People’s Credit Fund, and considering the report of the State Bank of Vietnam (SBV) – Binh Dinh Branch, the Chairman of the provincial People’s Committee agreed as follows:

Assign the SBV – Binh Dinh Branch to coordinate with the People’s Committee of Phu Cat district and the Provincial Cooperative Alliance to urgently implement the direction of the Permanent Deputy Secretary of the Provincial Party Committee in Official Dispatch No. 1536-TB/TU dated August 14, 2024, to soon stabilize the organization and operation of the Ngo May People’s Credit Fund, ensuring the safety of the Fund’s activities.

Regarding the above direction, on August 9, Mr. Le Kim Toan, Permanent Deputy Secretary of the Provincial Party Committee of Binh Dinh, chaired a meeting with agencies and units on several contents related to the organization and operation of the Ngo May People’s Credit Fund.

Besides Mr. Le Kim Toan, the meeting was attended by representatives of the provincial People’s Committee, the Provincial Party Committee’s Organization Committee, the Provincial Party Committee’s Inspection Commission, the Provincial Police, the SBV – Binh Dinh Branch, the Provincial Cooperative Alliance, the Standing Committee of Phu Cat District Party Committee and People’s Committee, and the Party Committee and People’s Committee of Ngo May town.

As Báo Người Lao Động has reported several times, on July 4, the Standing Committee of Binh Dinh Provincial Party Committee directed the coordination in supporting the Supervisory Board of the Ngo May People’s Credit Fund to organize an extraordinary general meeting of members in accordance with regulations.

Accordingly, the Provincial Party Committee directed the Phu Cat District Party Committee to direct the district-level authorities and local authorities to coordinate with the SBV – Binh Dinh Branch to direct the Supervisory Board of the Ngo May People’s Credit Fund to organize an extraordinary general meeting of members. At the same time, strengthen the supervision and support in terms of infrastructure and security and order in the area; promptly handle situations arising before and during the organization of the general meeting by the Ngo May People’s Credit Fund.

Implementing the direction of the Standing Committee of Binh Dinh Provincial Party Committee, in July, the SBV – Binh Dinh Branch sent officials to the locality several times to work with the People’s Committees of Ngo May town, Cat Trinh commune, and Cat Hiep commune (where there are 2,350 members of the Ngo May People’s Credit Fund) to coordinate with the Supervisory Board in convening the general meeting. However, the authorities of these localities refused to cooperate, citing that they had not received any directive from the leaders of Phu Cat district.

According to the SBV – Binh Dinh Branch, the delay in organizing the annual general meeting in the past time has led to serious internal disunity, affecting the trust of members and people in the Ngo May People’s Credit Fund, and may lead to risks in the operation of the Fund…