The Governor of the State Bank of Vietnam (SBV) issued Decision No. 2710/QĐ-NHNN on December 31 to publicize new administrative procedure under its jurisdiction. The Decision took effect from January 1, 2016.
Accordingly, the SBV officially publicizes one newly issued administrative procedure in the field of monetary activities, namely procedure for permitting credit institutions and foreign bank branches to provide loan in foreign currencies for specific cases, the implementer is the SBV. At the same time, the SBV announces 01 administrative procedure to be replaced, namely procedure for requesting the SBV’s approval in written for credit institutions and foreign bank branches that are allowed to provide loan in foreign currencies for specific cases in line with Item 2, Articles 3 & 4 of Circular No. 43/2014/TT-NHNN dated December 25, 2014.
The announcement of the administrative procedures is done in accordance with Item 2 of Articles 3 and 4 of Circular No. 24/2014/TT-NHNN dated December 8, 2015 on lending in foreign currencies of credit institutions and foreign bank branches to customers as residents.
LH