THE STATE BANK
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SOCIALIST REPUBLIC OF VIET NAM
Independence - Freedom Happiness
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No. 1627/2001/QD-NHNN
Hanoi, December 31, 2001
 
 
DECISION
on issuing regulations on lending by credit institutions to clients
THE GOVERNOR OF THE STATE BANK OF VIETNAM
Pursuant to the Law on State Bank of Vietnam and the Law on Credit Institutions dated 12 December 1997;
Pursuant to Decree 15-CP of the Government dated 2 March 1993 on duties, powers and responsibilities for State administration of ministries and ministerial equivalent bodies;
On the proposal of the Director of the Department of Monetary Policy;
DECIDES:
Article 1
To hereby issue with this Decision the Regulations on Lending by Credit Institutions to Clients.
Article 2
This Decision shall be of full force and effect as of 1 February 2002. The Regulations on Lending by Credit Institutions to Clients issued with this Decision shall replace the Regulations on Lending by Credit Institutions to Clients issued with Decision 284-2000-QD-NHNN1 of the Governor of the State Bank dated 25 August 2000.
Article 3
In the case of credit contracts which were entered into prior to the date of effectiveness of this Decision and under which the loans have not been disbursed or not fully disbursed, and in the case of credit contracts with outstanding loans as at the end of 31 January 2002, credit institutions and clients shall continue to implement them in accordance with the clauses in the signed contracts until the loans are fully repaid, or they may agree to amend and add to the credit contracts in order to make them consistent with the Regulations on Lending by Credit Institutions to Clients issued with this Decision.
Article 4
Heads of units under the State Bank, directors of State Bank branches in cities and provinces under central authority, chairmen of boards of management and general directors (directors) of credit institutions, and clients borrowing from credit institutions shall be responsible for implementation of this Decision.
  
REGULATIONS
ON LENDING BY CREDIT INSTITUTIONS TO CLIENTS
(Issued with Decision 1627-2001-QD-NHNN1 of the Governor of the State Bank dated 31 December 2001)
Article 1 Governing scope
These Regulations provide for lending in Vietnamese dong and foreign currency by credit institutions to clients not being credit institutions in order to satisfy capital requirements for production, business, services, investment and development, and living conditions.
 
THE GOVERNOR OF THE STATE BANK




Le Duc Thuy
 
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