Decision No. 544/2003/QD-NHNN of May 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 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 ministrial 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 June, 2003 and replace the Decision No. 393/2003/QD-NHNN dated 28 April, 2003 on the base interest rate in Vietnam Dong of the Governor of the State Bank.

2. Heads of units of the State Bank, General Managers of 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.