Decision No. 1012/2003/QD-NHNN of August 29, 2003, on the base interest rate in Vietnam dong

DECISION

ON THE BASE INTEREST RATE IN VIETNAM DONG

THE GOVERNOR OF THE STATE BANK

- Pursuant to the Law on the State Bank of Vietnam and the Law on the Credit Institutions dated 12 December, 1997;
- Pursuant to the Decree No. 86/2002/ND-CP dated 05 November, 2002 of the Government on the function, assignment, authority and organizational structure of the ministries and ministerial level agencies;
- Upon the proposal of the Director of the Monetary Policy Department,

DECIDES:

Article 1.To announce the base interest rate in Vietnam Dong to be of 0.625% per month (7.50% per year)

Article 2.

1. This Decision shall be effective from 01 September, 2003 and replace the Decision No. 826/2003/QD-NHNN dated 29 July, 2003 of the Governor of the State Bank of Vietnam on the base interest rate in Vietnam Dong.

2. Heads of units of the State Bank, General Managers of the State Bank branches in provinces, cities under the central Governments management, Board of Directors and General Directors (Directors) of credit institutions shall be responsible for the implementation of this Decision.