Press Release on issuance of Circular No.48/2024/TT-NHNN
Hanoi, August 30, 2024 – The Governor of the State Bank of Vietnam (SBV) has issued Circular No. 48/2024/TT-NHNN stipulating the interest rates applied to VND deposits of individuals and organizations at the credit institutions and the foreign bank branches.
The new Circular is composed of 5 Articles, specifically as follows:
Article 1: The scope of regulation
Article 2: The subjects of application
Article 3: Interest rates
Article 4: Entry into force;
Article 5: Implementation arrangements.
The provisions in the new Circular are aimed to ensure alignment with the regulations of the 2024 Law on Credit Institutions.
The new Circular shall take effect from November 20, 2024.
Translated by Hai Yen