Quyết định 424/1999/QD-NHNN5

DECISION

ON THE AMENDMENT OF THE SCOPE OF OPERATIONS OF JOINT-VENTURE BANKS IN VIETNAM

THE GOVERNOR OF THE STATE BANK OF VIETNAM

- Pursuant to the Law on the Credit Institutions No. 02/1997/QH10 announced in the Order No. 01/L-CTN dated 26 December, 1998 of the President of Socialist Republic of Vietnam;
- Pursuant to the Law on the State Bank of Vietnam No. 01/1997/QH10 announced in the Order No. 01/L-CTN dated 26 December, 1998 of the President of Socialist Republic of Vietnam;
- Pursuant to the Decree No. 13/1999/ND-CP dated 17 March, 1999 of the Government on the organisation, operation of the foreign Credit Institutions, Representative Offices of the foreign Credit Institutions in Vietnam;
- Upon the proposal of the Director of the Banks and Non-bank Credit Institutions Department,

DECIDES

Article 1.

To nullify the limitations on the receipt of demand deposits, term deposits in Vietnam Dong from individuals being a Vietnamese and legal entities being a Vietnamese organization that does not have credit relations with Joint-venture Banks in Vietnam as provided for in Article 1 of the Decision No. 415/1998/QD-NH5 dated 08 December, 1998 of the Governor of the State Bank.

Article 2.

This Decision shall be effective from 1 December, 1999.

Article 3.

The Director of the Administration Department; the Director of the Banks and Non-bank Credits Institutions Department; Heads of the State Bank units; Directors General (Directors) of the Joint-venture Banks operating in Vietnam shall be responsible for the implementation of this Decision.