Following the implementation of the Civil Code No. 91/2015/QH13, which came into effect on 1 January 2017 (2015 Civil Code), the State Bank of Vietnam (SBV) issued circular No. 39 on the Lending Activities of Credit Institutions and Foreign Bank Branches with Clients, which will take effect on 15 March 2017.
Circular No. 39 supersedes decision No. 1627 of the SBV, which provided Regulations on Lending by Credit Institutions with Clients and served as the master legal framework for lending activities in Vietnam since its enactment on 31 December 2001, nearly two decades ago.
Circular No. 39 establishes new lending policies in alignment with the 2015 Civil Code and the Law on Credit Institutions 2010. Key components of circular No. 39 are listed below.
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