What are responsibilities of microfinance institutions (MFIs) in Vietnam?

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What are responsibilities of microfinance institutions (MFIs) in Vietnam?

I'm learning about regulations on operation of networks of microfinance institutions. I have a question. What are responsibilities of microfinance institutions (MFIs) in Vietnam?

Thank you!

Pursuant to Article 29 of the Circular 19/2019/TT-NHNN (takes effect from 01/01/2020) stipulating responsibilities of microfinance institutions (MFIs) in Vietnam as follows:

Each MFI shall:

1. take legal responsibility for the adequacy and accuracy of information and documents provided in applications.

2. promptly notify the State Bank of any change related to the fulfillment of conditions and applications specified in this Circular, which is made while the State Bank is considering MFIs' requests.

Above are responsibilities of microfinance institutions (MFIs) in Vietnam.

Best regards!

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