The State Bank of Vietnam (SBV) issued Document No. 8352/NHNN-TTGSNH on October 16 to permit in principle the establishment of Rang Dong People’s Credit Fund in Nghia Hung district, Nam Dinh province.
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Accordingly, the establishment of Rang Dong People’s Credit Fund is required to comply with 2010 Law on Credit Institutions, Circular No. 04/2015/TT-NHNN dated March 31, 2015 on people’s credit funds, Circular No. 06/2017/TT-NHNN dated July 5, 2017 on revising several articles of Circular No. 03/2014/TT-NHNN dated January 23, 2014 on Fund for ensuring prudent system of people’s credit funds and Circular No. 04/2015/TT-NHNN dated March 31, 2015 on people’s credit funds of the SBV and other relevant regulations.
The SBV assigned the SBV branch in Nam Dinh province to proactively implement the granting of license for the above – mentioned credit fund and to be responsible for their assigned task.
Le Hang