Advertisement

VIETNAM

Share via
<i> Times Staff and Wire Reports</i>

Banks to Sell MasterCard: MasterCard International has licensed four Vietnamese banks to sell credit cards in a nation where few people know what one looks like. Many Vietnamese prefer to keep their money hidden at home instead of entrusting it to state-run banks. Some people lost what meager savings they had when several credit cooperatives collapsed in the 1980s. MasterCard announced that it would become the first international company to issue credit cards in this poor nation of 72 million residents.

Advertisement