Mr. Tran Bac Ha was arrested: All violations must be paid for

There are signs of vested interests.

Regarding the arrest of Mr. Tran Bac Ha - Former Chairman of BIDV Bank, economic expert Le Dang Doanh said that this is a great effort by the authorities in enforcing the law, because Mr. Ha is a very powerful person and is believed to have the "backing" of a number of other subjects. "Hopefully the law and justice will be applied fairly to Mr. Tran Bac Ha", Mr. Doanh said.

Dr. Le Dang Doanh analyzed that strict enforcement of the law will help the management of banks, state management and state-owned enterprises to be serious and bring about positive changes in the coming time. At the same time, it will draw experience in managing banks in general and BIDV bank in particular effectively in accordance with the provisions of the law.

Based on the investigation results, collected documents and evidence that the Ministry of Public Security's Investigation Police Agency has just announced, along with the execution of the arrest warrant for Mr. Tran Bac Ha,Dr. Le Dang Doanh commented that Mr. Ha's actions were arbitrary, authoritarian, and did not consult his colleagues. Therefore, Mr. Ha's decisions had very negative consequences for the Bank's operations and reflected the existence of group interests.

According to Dr. Le Dang Doanh, the arrest and prosecution of Mr. Tran Bac Ha will be a lesson for the current generation of bank leaders, so that they can avoid similar situations and not follow in Mr. Tran Bac Ha's footsteps.

The gap is not in the law but in the implementation.

Lawyer Truong Thanh Duc, Chairman of the Board of Members of BASICO Law Firm, assessed: Vietnam's current legal system is quite strict. Specifically, in the case of Mr. Tran Bac Ha, the provisions of the law are not because of loopholes or "circumventions" leading to violations, but the problem lies in compliance, enforcement, inspection, examination, supervision, and management.

“The violation is not only in this case but also in other cases, not only in one bank but in many banks. Only when the consequences cannot be overcome will they be brought to justice, at which point the consequences are already very serious. However, the loophole does not lie in the law but in the enforcement,” said Lawyer Truong Thanh Duc.

Lawyer Truong Thanh Duc said that supervision is also a big reason. If an individual intentionally violates but the supervisory inspector does not detect it, it will be a serious matter. But here, there is knowledge, handling, and prevention, but there is no consistency or clarity when it is brought up.

According to Lawyer Duc, sometimes there is a lack of clarity between unintentional and intentional in the banking sector in particular, and in the business sector in general. Specifically, if the head of the company makes a wrong investment decision, market risk or force majeure case... but they are impartial, without selfish interests, intentionality, or corruption, they must be forgiven, but there are cases that are still brought to justice.On the contrary, there are cases of intentional violations and when there are serious consequences, when it is impossible to hide or cover up, then they are dealt with. "That leads to a situation where the law is not serious and has no deterrent or warning effect," said Mr. Duc.

Banking is an industry that involves money and a lot of responsibility, so mistakes can happen if not prevented in time. According to Lawyer Duc, in the past, violations were too common, occurring in every bank, only the level of violation differed. Therefore, the most important thing is to have measures to monitor, manage, strengthen inspection and examination, and strictly handle violations to limit violations in the future.

Every mistake must be paid for.

According to Dr. Nguyen Minh Phong, the arrest of Mr. Tran Bac Ha after a long time in hiding has attracted great attention from the public. This shows the determination of the Party, the State as well as specialized agencies in the issue of arresting those who have committed violations that are harmful to the country in general and the banking industry in particular.

Mr. Phong noted that after this incident, those in office should take it as an example to understand that any wrongdoing will sooner or later have to pay the price. The public is very upset and is watching to see how the authorities will handle Mr. Ha's crimes, whether it is appropriate or not.

According to this economic expert, the trial of Mr. Tran Bac Ha has a deterrent and warning meaning as well as a great practical significance in the operation of banking life. In addition, it helps the international community to have more confidence in Vietnam's determination to fight corruption and to improve the socio-economic activities in the context of integration and openness.

On November 29, 2018, the Investigation Police Agency of the Ministry of Public Security (C03) served Decisions and executed Arrest and Search Warrants against 4 suspects related to the case of "Violating regulations on banking activities and other activities related to banking activities" occurring at the Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV).

Previously, at the 27th session, the Central Inspection Committee reviewed and disciplined the Standing Committee of the BIDV Bank Party Committee and related individuals for violations and shortcomings that had been concluded.

The Central Inspection Committee has disciplined Mr. Tran Bac Ha, former Party Secretary and former Chairman of the Board of Directors, by expelling him from the Party.

Mr. Tran Bac Ha violated the principle of democratic centralism, working regulations, showed signs of imposition and lack of democracy in direction and management; violated the resolution of the Party Committee Standing Committee on the obligations and responsibilities of those holding positions in the BIDV system; violated the process, procedures, authority, and regulations on credit in approving policies and deciding on a number of loans, guarantees, investments, and debt management, including approving a loan policy of VND 4,700 billion for 12 companies related to the case that occurred at the Construction Bank./.