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Circular No. 06/2023/TT-NHNN, which amends and supplements certain provisions of Circular No. 39/2016/TT-NHNN, has been recently issued by the State Bank of Vietnam. This new circular removes the limitation on borrowing for the purpose of prepaying existing loans at other banks solely for business-related activities. As a result, individuals can now get loans from other…
02
Jul
Jul
The Ministry of Finance of Vietnam has issued Circular 44/2023/TT-BTC, which stipulates a reduction of 10% to 50% in fees and charges for 36 items, aimed at supporting individuals and businesses in difficult economic conditions, recovering from the pandemic, and international fluctuations. The Ministry of Finance of Vietnam estimates that the reduction of these 36…
24
Jun
Jun
The provision for risk reserves in the banking sector is a requirement based on International Financial Reporting Standards (IFRS) and specific regulations of financial regulatory authorities. When a bank provides loans and those loans become loans from group 2 onwards, the bank is required to set aside a corresponding portion as a provision for risk….
16
Jun
Jun
Compulsory reserve is the amount of money that a credit institution must deposit at the State Bank for each type of deposit with different terms. So, what is Vietnam’s legal regulation on compulsory reserve? Article 10 of the Law on the State Bank of Vietnam 2010 stipulates that compulsory reserve is one of the monetary…
30
Mar
Mar
Are banks and credit institutions the same concept? In the following article, ASL LAW will introduce some basic differences in the definition between a bank and a credit institution in Vietnam. Definition Clauses 1 and 2, Article 4 of the Law on Credit Institutions 2017 No. 17/2017/QH14 amending and supplementing a number of articles of…
21
Mar
Mar
The Draft Decree amending and supplementing Decree No. 65 contains proposed provisions on the payment of bond principal and interest by enterprises with other assets (Supplement point d, clause 3 of Decree No. 65). This proposal has been approved, detailed in Decree No. 08/2023/ND-CP amending and supplementing Clause 3, Article 34 of Decree No. 153/2020/ND-CP….
02
Mar
Mar
In Vietnam, auditing activities are regulated under the Law on Auditing 2015. Basically, people usually understand audit activities as follows: Accountants are in charge of financial records for businesses, while audits are responsible for checking that the accounting reports posted are accurate, transparent, and not fraudulent. This interpretation is relatively correct but not specific. In…
21
Sep
Sep
The State Bank of Vietnam (SBV) has issued Circular 10/2022/TT-NHNN guiding the management of foreign exchange for the issuance of bonds to the international market by enterprises that are not guaranteed by the Government. This Circular stipulates the procedures for registration and registration for changes in the issuance of bonds to the international market of…
19
May
May
What are bonds? bond is a type of debt security that requires the issuer to pay the bondholder a specified amount of interest, usually over a specified period of time, accompanied by having to repay the initial loan amount (called the bond’s par value) at maturity. Bond issuer The nature of the issuer is an…
