Legal Counselling

05 principal contents of internal regulation lending activities of people's credit funds in Vietnam

10:36, 03/01/2016

Circular No. 32/2015/TT-NHNN regulating limits and safety ratios in the operations of people's credit funds, which was issued on December 31, 2015 by the State Bank of Vietnam, of which a notable content is the internal regulation on management of lending activities and loan management of people's credit funds.

Internal regulations on management of lending activities and loan management include at least the contents listed in Circular No. 32/2015/TT-NHNN of the State Bank of Vietnam as follows:

- Criteria for identifying customers and people related to customers must have at least the following contents as prescribed in this Circular;

- Lending limits applicable to customers, clients and related persons, mechanisms and principles for decentralization and authorization of loans to customers, clients and relevant persons;

- Maximum loan limit in total loan balance for each type of customer who is a member, customer who is not a member and customer who is a poor household of the people's credit fund;

- Monitoring process for loans exceeding 5% of the people's credit fund's equity capital;

- Regulations on reporting loans to subjects who are members of the Board of Directors, the Control Board and Director of the People's Credit Fund are in accordance with the State Bank's regulations on the people's credit fund.

View more details at Circular No. 32/2015/TT-NHNN of the State Bank of Vietnam, effective from March 01, 2016.

- Khanh Chi -

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