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Circular 06/2013/TT-BTC of the Ministry of Finance guiding the financial regimes for the microfinance institutions

Circular 06/2013/TT-BTC of the Ministry of Finance guiding the financial regimes for the microfinance institutions

All damages, losses of property or capital of microfinance institutions must be clarified in terms of responsibilities and sanctions.

For real estate temporary holding for sale or transfer to return on capital debt settlement, microfinance institutions will not accounting to increase asset and depreciation.

Apart from the risk reserve in banking activities , microfinance institutions can make provision for diminution in value of inventories, bad debts as general regulations for businesses.

Circular takes effect from February 25th 2013.

ANT Lawyers

Tuan Nguyen

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