Decision 174/QD-NH5 of 1994 amending the scope of operation of foreign bank branches and joint venture banks operating in Vietnam issued by the Governor of the State Bank

DECISION

ON AMENDMENT, ADDITION TO CONTENTS OF SCOPE OF ACTIVITIES OF FOREIGN BANK BRANCH, JOINT - VENTURE BANK OPERATING IN VIETNAM

 GOVERNOR OF STATE BANK

Pursuant to the Ordinance on State Bank, Ordinance on bank, credit cooperatives and finance companies issued dated 24 may, 1990 by the Order No. 37 LCT/HDNN 8 and Order No. 38 LCT/HDNN8 of the President of the State Council.
Pursuant to the Decree No. 15/CP dated 2, march, 1993 of the Government on tasks, powers, and responsibilities for State management of Ministries and Ministerial Agencies.
Pursuant to the Decree No. 189/HDBT dated 5, June, 1991 of the Council of Ministers on promulgation of the regulation foreign bank branches, joint-venture bank operating in Vietnam.
On the proposal of the director of the financial institution department.

DECIDES

Article 1:

Addition to the contents of activities stipulated in banking license granting to foreign bank branch, joint-venture bank by State bank as follows:

1.1 Foreign bank branch, joint-venture bank operating in Vietnam are allowed to receive Vietnamese currency from Vietnamese and Vietnamese legal entities which not relating credit to bank, the rate shall not be more than 20% of the allocated capital of foreign bank branch, or chartered capital of the joint-venture bank.

1.2 Foreign bank branch, joint-venture bank operating in Vietnam implementing guarantee for entities are foreign economic organizations which take part in bidding investment projects in Vietnam and to lend to these entities implement the successful bidding project in Vietnam.

Article 2:

This decision shall come into force from 1 September, 1994. The director of the Governor's office, the director of the financial institutions department, chief of the relevant units of State Bank.

General director of the foreign bank branches, joint-venture banks operating in Vietnam are responsible for implementation of this Decision.

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