ANT Lawyers – To support foreign resources in the process of restructuring the system of credit institutions in Vietnam, the Government has encouraged foreign organizations and individuals to cooperate with the bank of Vietnam to accumulate capital by buying shares or by merging with the weak bank in Vietnam in accordance with the law. Decree … Read More
ANT Lawyers – The State Bank of Vietnam officially delayed the application date of Circular 02/2013/TT-NHNN. This Circular will serve as general guidance for banking related issues like classifications on assets, levels and methods of provisions, and risk handling. Furthermore, this Circular will outline conditions for enterprises such that they have better access to bank … Read More
From March 26th 2013, the maximum interest rate applicable to deposits with a term of one month to 12 months is 7.5%/year. The 12-month interest rate on deposits will be set by the banks on the basis of supply and demand in capital market. In addition, short-term interest rate was reduced to 11%/year; particularly for … Read More
Decision 16/2013/QD-TTg of the State Bank of Vietnam on the buying and selling of gold on the domestic market The State Bank of Vietnam (SBV) will buy and sell gold in one of two forms: direct buying/selling or bidding. The Governor will decide on the plan to buy or sell gold in each case in … Read More
Circular 05/2013/TT-BTC dated January 9th 2013 of the Ministry of Finance guiding the financial regime for credit institutions and foreign bank branches The Circular guiding some specific costs which are charged to expenses as business operation expenses, tax expenses, assets, expenses for staffs, expenses for management activities, public services, risk reserve fund and others. Accordingly, the … Read More
Directive 01/CT-NHNN dated January 31st 2013 of the State Bank of Vietnam on limiting the establishment and expansion of the bank To ensure the safe and effective banking operation in 2013, the State Bank of Vietnam instructed to closely manage the establishment and expansion of the bank’s network. Accordingly, only banks that are capable of … Read More
Decision 07/2013/QD-TTg of the Prime Minister on the financial regime of the State Bank of Vietnam The new legal capital of the State Bank of Vietnam (SBV) will be 10,000 billion VND, increased by 5,000 billion VND. Annually, the SBV may deduct 20% of their revenues and expenditures to fund the implementation of national currencies policy, increased … Read More
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