VietnameseDecision No. 415/1998/QD-NH5 dated December 28, 1998 of the State Bank on amendment of the scope of operations of joint-venture bank in Vietnam
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Decision No. 415/1998/QD-NH5 dated December 28, 1998 of the State Bank on amendment of the scope of operations of joint-venture bank in Vietnam
| Issuing body: | State Bank of Vietnam | Effective date: | Known Please log in to a subscriber account to use this function. Don’t have an account? Register here |
| Official number: | 415/1998/QD-NH5 | Signer: | Tran Minh Tuan |
| Type: | Decision | Expiry date: | Updating |
| Issuing date: | 28/12/1998 | Effect status: | Known Please log in to a subscriber account to use this function. Don’t have an account? Register here |
| Fields: | Finance - Banking |
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STATE BANK OF VIETNAM --------- | SOCIALIST REPUBLIC OF VIETNAM Independence - Freedom - Happiness ------------------- |
No. 415/1998/QD-NH5 | Hanoi, 8 December, 1998 |
DECISION
ON AMENDMENT OF THE SCOPE OF OPERATIONS OF JOINT-VENTURE BANK IN VIETNAM
THE GOVERNOR OF THE STATE BANK OF VIETNAM
- Pursuant to the Law on the Credit Institutions No. 02-1997/QH10 promulgated under the Order No. 01/L-CTN dated 26 December, 1998 of the President of the Socialist Republic of Vietnam.
- Pursuant to the Law on the State Bank of Vietnam No. 01-1997/QH10 promulgated under the Order No. 01/L-CTN dated 26 December, 1998 of the President of the Socialist Republic of Vietnam.
- In according with Decree No. 189/HDBT dated 15 June, 1991 of the Council of Ministers on promulgation of the regulation on foreign bank branches and joint-venture banks operating in Vietnam.
- Upon the proposal of the Director of Banks and Non-banking Credit Institutions Department.
DECIDES
Article 1.
The joint-venture bank operating in Vietnam shall be permitted to receive demand deposits in Vietnamese Dong from individuals who are Vietnamese and legal entities who are Vietnamese organizations which do not borrow funds from such bank, maximizing 100% of the chartered capital of joint-venture bank, and to receive time deposits in Vietnamese Dong from these customers, maximizing 50% of the chartered capital of joint-venture bank.
Article 2.
This Decision shall be effective after 15 days from the date of signing. The previous regulations which are contrary to regulations provided in Article 1 of this Decision shall be repealed.
Article 3.
The Director of Administrative Department, Director of Banks and Non-banking Credit Institutions Department, Heads of relevant units of the State Bank of Vietnam and General Director of the joint-venture banks shall be responsible for the implementation of this Decision.
FOR THE GOVERNOR OF THE STATE BANK OF VIETNAM DEPUTY GOVERNOR Tran Minh Tuan |
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