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Law on the State bank of Vietnam on 1997
11-01-2007

NATIONAL ASSEMBLY -------

No. 06/1997/QHX

SOCIALIST REPUBLIC OF VIETNAM Independence- Freedom- Happiness ******

Dated December 1997

LAW

ON THE STATE BANK OF VIETNAM ******

 

To formulate and efficiently implement the national monetary policy; strengthen State management of currency and banking activities; contribute to the development of the multi-sector commodity economy in pursuance of the market structure under State control and socialist orientations; assure the State's interests, as well as the legal rights and benefits of organizations and individuals; In accordance with the Constitution of the Socialist Republic of Vietnam issued in 1992; This law provides regulations on the State Bank of Vietnam.

Chapter I

General regulations

Article 1: Post and functions of the State Bank of Vietnam

  1. The State Bank of Vietnam (abbreviated as SBV) is a Governmental body and a central bank of the Socialist Republic of Vietnam.
  2. SBV has a function of State management of currency and banking operations, and acts as a bank for credit organizations. The bank is allowed to issue currency and conduct monetary services in favour of the Government.
  3. SBV's operations are aimed to stabilise currency value, help assure safe banking activities and a secured system of credit organisations, and boost the socio-economic development in conformity with socialist orientations.
  4. SBV has full legal status and State-owned legal capital, with a Ha Noi based headquarters.

Article 2: National monetary policy The national monetary policy is part of the State's economic financial policy aimed to stabilise currency value, control inflation, partially boost the country's socio-economic development, assure national defense, security, and improve people's living standards. The State unanimously controls all banking activities; has policies to mainly maximize domestic power resources, together with making full use of those from overseas in order to form an immense combined force from all economic sectors; makes sure of the leading role of State-owned credit organizations in the area of currency and banking activities; holds firm to socialist orientations and national sovereignty; expands international co-operation and integration; and satisfies the demand for the socio-economic development, helping realise the country's industrialization and modernization cause.

Article 3: Deciding and organizing the implementation of the national monetary policy

1. The National Assembly decides and supervises the implementation of the national monetary policy, as well as the annual anticipated inflation rate in correlation with State Budget balance and economic growth rate.

2. The president, on behalf of the Socialist Republic of Vietnam, fulfills duties and rights stipulated by the constitution and law concerning negotiations, signing, international agreements and approval of international treaties in the fields of finance , currency and banking activities.

3. The Government formulates projects for the national monetary policy and annual envisaged inflation rate to submit to the National Assembly for decision; the implementation of the national monetary policy; decides annual sup-elementary money supply an d clarifies the purpose of utilizing this sum of money and term when reports must be addressed to the Standing Committee of the National Assembly; and decides other detailed policies and solutions to realise them.

Article 4: Consultative Committee for the National Monetary Policy

1. The Government establishes a Consultative Committee for the National Monetary Policy which consults with the Government in deciding issues regarding the Government's obligations and rights in the aspect of monetary policy.

2. The Consultative Committee for the National Monetary Policy is comprised of a chairman who should be a deputy prime minister, a standing member (SBV's governor) and other members, including representatives from the Ministry of Finance, the Ministry of Planning and Investment, other related ministries and branches and banking experts.

3. Obligations and rights of the Consultative Committee for the National Monetary Policy are stipulated by the Government.

Article 5: Obligations and rights of SBV has the following obligations and rights:

1. In regard to the implementation of State management function:

  1. Participate in outlining State strategies and plans for the economic development;
  2. Form a project on the national monetary policy to submit to the Government for consideration and then to the National Assembly for decision, and organize the implementation of this policy; draw up a strategy to develop the banking system and Vietnamese credit organizations;
  3. Set up legal and constitutional projects and others concerning currency and banking operations; issue legal documents on currency and banking activities within the range of the bank's competence;
  4. Grant or withdraw establishment and operation of credit organizations, excluding special cases decided by the prime minister; confer or revoke banking operation licences of other organizations; decide to disband, divide, separate or incorporate credit organizations in accordance with legal regulations;
  5. Examine and inspect banking activities; control credit; deal with legal violations in the field of currency and banking operations, according to the bank's competence;
  6. Control foreign loans and debt payments of businesses in accordance with Governmental regulations;
  7. Preside over the formulation and supervise results of the implementation of international payment balance;
  8. Handle operations involving foreign exchange and gold;
  9. Sign and take part in international treaties on currency and banking activities in accordance with legal regulations;
  10. Act as a representative from the Socialist Republic of Vietnam in international monetary organizations and banks when entrusted by the president or the Government;
  11. Conduct training and improving banking professional operations; research and apply banking scientific and technological achievements.

2. In regard to implementing functions as a central bank:

  1. Print, cast, preserve and transport currency; issue, withdraw, replace and destroy currency;
  2. Refinance to provide short-term credit and payment facilities for the country's economy;
  3. Direct the money market and conduct open market operation;
  4. Control international reserves and manage State foreign currency reserves;
  5. Structure the payment system via banks, run payment services, and control the supply of payment facilities;
  6. Function as an agent and conduct banking services for the State Treasury;
  7. Organise an information system and banking information services.

3)Observe other obligations and rights in accordance with legal stipulations.

Article 6: Responsibilities of ministries; ministerial- level bodies, Governmental offices and other State-owned centrally-managed bodies for banking operations.

1. Ministries, ministerial-level bodies, Governmental offices and other State-owned centrally-managed bodies, within the scope of their obligations and rights, co-ordinate with SBV in State management of currency and banking operations.

2. The Ministry of Finance in connection with SBV formulates the national financial and monetary policy, calculates anticipated total advance for the State Budget in the next year, and fulfils other regulations of this law regarding the relations between the Ministry of Finance and SBV.

Article 7: Responsibilities of People's Councils and People's Committees of different levels in implementing the law on currency and banking operations People's Councils and People's Committees of different levels, according to their obligations and rights, supervise and control legal implementation of currency and banking operations in their localities.

Article 8: Role of the Fatherland Front of Vietnam and member organizations in banking activities The Fatherland Front of Vietnam and member organizations join with State-run bodies in monitoring legal implementation of currency and banking operations; propagandize and motivate organizations and individuals to observe legal regulations on currency and banking operations.

Article 9: Explanation of banking terms In this law, some banking terms and phrases are explained as follows:

1. Currency is a payment facility, including notes, coins and quasi-money valuable documents.

2. Money market is a short-term capital market where short-term quasi-money valuable documents, including treasury bonds, SBV's credit notes, certificates of deposit and other short-term quasi-money valuable documents, are sold and bought.

3. Banking operations are understood as currency business and banking services, regularly receiving deposits and utilising this sum of money to provide credit and payment services.

4. Open market operations relate to SBV's buying and selling short-term quasi-money valuable documents in the money market aimed to realise the national monetary policy.

5. Required reserves are the sums of money that credit organizations must keep at SBV to serve the national monetary policy.

6. Foreign exchange is comprised of foreign currency, international standard gold, quasi-money valuable documents and foreign-currency dominated payment instruments.

7. Foreign exchange operations mean investing, borrowing, lending, guaranteeing, buying, selling foreign exchange and other foreign exchange transactions.

8. Exchange rate is the value rate of the Vietnamese dong to the US dollar.

9. International reserves include State foreign exchange reserves handled by SBV and foreign exchange reserves of credit organizations permitted to conduct foreign exchange operations.

10. Refinancing is a mode of credit provision guaranteed by SBV aimed to supply short-term capital and payment facilities to banks.

11. Lending on credit documents is a form of SBV's refinancing banks which offer loans to customers.

12. Prime interest rate is the interest rate announced by SBV and functions as a base for credit organizations to appoint business interest rate.

13. Refinancing interest rate is the interest rate applied by SBV when refinancing.

14. Re-discount interest rate is a form of refinancing interest rate applied by SBV when re-discounting commercial bills and other short-term quasi-money valuable documents of credit organizations.

15. Short-term quasi-money valuable documents are quasi- money valuable documents with a term less than one year.

Chapter II Structure of the State Bank

Article 10: Apparatus structure

1. SBV is organized to be a concentrated unified system comprised of a management apparatus and professional operations at its headquarters, branches in centrally-controlled provinces and cities, representative offices at home and abroad and subsidiary units.

2. Structure, obligations and rights of SBA's management apparatus is stipulated by the Government. Article 11: Lead and management of SBV

1. SBA's governor (abbreviated as governor) is a Governmental member who takes responsibility to lead and manage SBV.

2. The governor has the following obligations and rights:

  1. Instruct and organize the implementation of SBV's obligations and rights stipulated in Article 5 of this law and in regulations of the organization law by the Government;
  2. Be responsible to the prime minister and the National Assembly for the area that he governs;
  3. Act as SBA's representative with legal status.

Article 12: Branches and representative offices

1. Branches are SBV's subsidiaries which must be under the governor's leadership and concentrated unified management. Branches are required to fulfil the following obligations and rights entrusted by the governor:

a) Control and inspect banking operations within appointed localities;

b) Grant or revoke establishment and banking operation licences of credit organizations and banking operation licences of other organizations; decide to disband, divide, separate or corporate credit organizations within their localities;

c) Carry on refinancing operations and financing operations for clearing purpose;

d) Provide payment and cashing services, as well as other banking services for credit organizations and the State Treasury;

e) Fulfil other proxy tasks in accordance with legal stipulations.

2. Representative offices are SBV's subsidiaries and act as proxies of the governor. Representative offices must not conduct banking operations.

3. The governor stipulates concrete structure, obligations and rights of SBV's branches and representative offices.

Article 13: Subsidiary units

1. SBV has subsidiaries tasked to train, conduct scientific research, provide information technology services, specialized information, banking newspapers and magazines.

2. The prime minister decides the establishment of SBV's subsidiary businesses which will supply specialized products serving banking operations.

Article 14: Responsibilities of SBV's staff and officials SBV's staff and officials are obliged to observe the following stipulations:

1. Assure confidentiality of SBV's and credit organizations' professional operations, as well as customers' deposits in accordance with legal stipulations;

2. Must not function as consultants, representatives or associates for monetary, credit, commercial and financial organizations or other businesses, except in cases where legal regulations have changed;

3. Must not use their posts and rights to solicit bribes, to bring trouble upon themselves;

4. Fulfil other obligations of State staff and officials in conformity with legal regulations.

Chapter III

Part 1.- Implementation of the National Monetary Policy

Article 15: SBV's responsibilities in the implementation of the national monetary policy In regard to implementing the national monetary policy, SBV is responsible for:

1. Mapping out the project for the national monetary policy and the plan to supply annual supplementary money for submission to the Government;

2. Managing instruments needed to implement the national monetary policy; putting money into or withdrawing money from circulation, according to market's signals within the scope of approved amounts of supplementary money by the Government;

3. Reporting to the Government and the National Assembly on results of the implementation of the national monetary policy.

Article 16: Instruments implementing the national monetary policy To realise the national monetary policy, SBV applies instruments like refinancing, exchange rates, required reserves, open market professional operations and others decided by the governor.

Article 17: Refinancing mode SBV refinances banks under the following forms:

  1. Lending on credit documents;
  2. Discount and re-discount of commercial bills and other short-term quasi-money valuable documents;
  3. Lending guaranteed by pledge of commercial bills and other short-term quasi-money valuable documents.

Article 18: Interest rate SBV specifies and announces prime and refinancing interest rates.

Article 19: Exchange rate

1. The exchange rate of the Vietnamese currency is set up on the basis of foreign currency supply and demand in the market, and is regulated by the State.

2. SBV defines and promulgates the exchange rate of the Vietnamese currency.

Article 20: Required reserves

1. SBV identifies required reserve rate for each form of credit organization and each type of deposit, from 0 - 20 percent of total deposit balance kept in each credit organization in each period.

2. The payment of interest rate for required reserve deposits of each form of credit organization and each type of deposit in each period is stipulated by the Government.

Article 21: Open market operations SBV runs open market operations through buying and selling treasury bonds, certificates of deposit, SBV's credit notes and other short-term quasi-money valuable documents in the money market in order to realise the national monetary policy.

 

Part 2.- Issuance of Notes and Coins

Article 22: Currency unit The currency unit of the Socialist Republic of Vietnam is dong; the national symbol is "d"; the international symbol is "VND"; one dong equals ten haos; and one hao equals ten xus.

Article 23: Currency issuance

  1. SBV is the only body that is allowed to issue currency of the Socialist Republic of Vietnam, including notes and coins.
  2. Notes and coins publicised by SBV are served as a payment facility unlimited in the territory of the Socialist Republic of Vietnam.
  3. SBV handles reserves for issuance in accordance with Governmental regulations.
  4. SBV guarantees to supply sufficient quantity and types of notes and coins for the country's economy.
  5. Money put into circulation is regarded as liabilities for the economy and is balanced with SBV assets.

Article 24: Printing, casting, preserving, transporting, distributing and destroying money.

1. SBV designs price, size, weight, picture, pattern and other features of notes and coins to submit to the prime Minister for approval.

2. SBV handles printing, casting, preserving, transporting, issuing and destroying money.

Article 25: Dealing with damaged money SBV specifies criteria for classifying damaged money; changes and withdraws various types of damaged money due to long-lasting circulation, and does not change damaged money caused by intentional destructive acts.

Article 26: Revoking and replacing money SBV withdraws unsuitable notes and coins from circulation and issues other kinds of money instead. Revoked money is replaced with other types of money of the same value over a term stipulated by SBV. After this term, withdrawn money is no longer valuable in the circulation market.

Article 27: Specimen and souvenir notes SBV carries on printing, casting and selling both at home and overseas different types of specimen and souvenir notes which are designed to serve the collection purpose or others in conformity with Governmental regulations.

Article 28: Introduction, control and supervision of the implementation of money issuance regulations

1. The Government introduces regulations on money issuance operations, involving printing, casting, preserving, transporting, issuing, revoking, replacing and destroying money, and expenditures for money issuance operations.

2. The Ministry of Finance checks the implementation of regulations on money issuance operations; the Ministry of Finance and the Interior Ministry monitor the process of printing, casting and destroying money.

Article 29: Forbidden acts The following actions are forbidden:

1. Making counterfeit money; trafficking, speculating and circulating counterfeit money;

2. Destroying money;

3. Refusing to receive and circulate money issued by SBV.

 

Part 3.- Credit Operations

Article 30: Lending

  1. SBV offers short-term loans to credit organizations operating as banks under the refinancing form as regulated in Article 17 of this law.
  2. In special cases, when the prime minister approves, SBV lends credit organizations that temporarily face payment incapability and threaten the security of the system of credit organizations.
  3. SBV does not lend to individuals and organizations proven not to be credit organizations stipulated in Points 1 and 2 of this article.

Article 31: Guarantee SBV does not guarantee organizations and individuals in borrowing capital, except when the prime minister appoints the guarantee of credit organizations in borrowing foreign capital.

Article 32: Advancing funds to the State Budget SBV advances funds to the central budget in order to deal with temporary shortage of State Budget funds, according to the prime ministerial decision. This advanced sum must be returned during the budget year, except in particular cases decided by the prime minister.

Article 33: Capital contribution and purchase of shares SBV is not allowed to contribute capital and purchase shares from credit organizations and other businesses.

 Part 4.- Opening Accounts, Payment and Cashing Operations

Article 34: Opening accounts

1. SBV is permitted to open accounts at overseas banks and international monetary organizations and banks.

2. SBV opens accounts and runs transactions for domestic credit organizations, overseas banks and international monetary establishments and banks.

3. SBV opens accounts and conducts transactions for the State Treasury. In provincial districts and towns, the State Treasury opens accounts at State-run commercial banks.

Article 35: Payment and cashing operations

  1. SBV organizes the interbank payment system and provides payment services.
  2. SBV runs cashing services through collecting and delivering cash to customers.
  3. SBV must sufficiently and promptly accomplish cash payment transactions and must not use cash required by account owners.
  4. SBV signs and promotes agreements on payment with foreign banks and international monetary establishments and banks in accordance with legal stipulations.

Article 36: agent for the State Treasury SBV acts as an agent for the State Treasury in organising tenders, issuing and paying credit notes and treasury bonds.

Part 5.- Foreign Exchange Management and Foreign Exchange Operations

Article 37: SBV's tasks and rights on management of foreign exchange In the management of foreign exchange, SBV has the following duties and rights:

1. Outline legal and ordinance projects and others on foreign exchange management; introduce legal documents on the management of foreign exchange according to its competence;

2. Confer and revoke foreign exchange operation licences;

3. Manage and monitor the interbank foreign currency market and the domestic foreign exchange market;

4. Check and inspect the implementation of legal regulations on foreign exchange management; and control exports and imports of foreign exchange;

5. Control foreign exchange activities of credit organizations;

6. Fulfil other obligations and rights of foreign exchange management in accordance with legal regulations.

Article 38: Management of State foreign exchange reserves

1. State foreign exchange reserves include:

  1. Foreign cash and foreign currency balance of deposit accounts with foreign banks;
  2. Foreign bills of exchange and promissory notes in foreign currency;
  3. Financial claims issued and guaranteed by the Government, foreign banks and international monetary organizations or international banks;
  4. Gold;
  5. Other types of State foreign exchange.

2. SBV manages State foreign exchange reserves of the Socialist Republic of Vietnam in accordance with Governmental regulations in an attempt to realise the national monetary policy, guarantee international payment capability and keep State foreign exchange reserves intact.

3. The utilization of State foreign exchange to meet the State's sudden urgent needs must be under the Prime Ministerial decision.

4. SBV reports to the Government and the Standing Committee of the National Assembly on changes of State foreign exchange reserves.

5. The Ministry of Finance checks SBV's management of State foreign exchange reserves in accordance with Governmental regulations.

Article 39: SBV's foreign exchange operations SBV buys and sells foreign exchange in the domestic market for the purpose of the national monetary policy; buys and sells foreign exchange in the international market and conducts other foreign exchange operations in conformity with Governmental stipulations.

Part 6.- Information Activities

Article 40: Information receipt and provision

1. SBV receives, analyses and forecasts domestic and overseas information on economics, finance, currency and banking activities to serve the construction and management of the national monetary policy. Related organizations are responsible to provide necessary information for SBV in accordance with Governmental regulations.

2. SBV exchanges and carries on services on information on currency and banking activities provided for credit organizations, other establishments and individuals.

Article 41: Information publication SBV publicises information on currency and banking operations. The governor appoints scope, form and time to announce this information.

Article 42: Information confidentiality SBV takes responsibility to compile and submit to the Government the decision on lists of confidential documents on currency and banking operations; and keeps the confidentiality of the State, SBV and customers in conformity with legal regulations.

Chapter IV Finance, Accounting and Reports by SBV

Article 43: Legal capital SBV's legal capital is given by the State Budget, amounts of which are decided by the prime minister.

Article 44: Financial incomes and expenses SBV's financial incomes and expenses are principally made in accordance with regulations of the State Budget Law. The Government specifies stipulations on peculiar financial incomes and expenses suited to SBV's professional operations.

Article 45: Difference between SBV's incomes and expenses

The difference between SBV's incomes and expenses is from revenues from banking operations and others after excluding operating expenses and reserves for risks.

Article 46: Fund formation SBV deducts part of the difference between incomes and expenses to form funds to serve the national monetary policy in accordance with Governmental regulations, with the remainder to be contributed to the State Budget.

Article 47: SBV's accounting SBV runs accounting operations under the chart of accounts and the documentary-based system in accordance with legal regulations on accounting and statistics.

Article 48: Auditing SBV's annual financial reports must be audited and confirmed by State Auditing.

Article 49: Fiscal year and financial reports

1. SBV's fiscal year starts on January 1 and ends on December 31.

2. SBV follows financial reporting system in accordance with legal regulations.

 Chapter V

Banking Inspectorate and General Control of the State Bank of Vietnam

Article 50: Banking Inspectorate

  1. The Banking Inspectorate specializes in banking inspections and belongs to SBV's apparatus.
  2. The relationship between the Banking Inspectorate and the State Inspectorate is regulated in the inspection law.
  3. Specific structure, duties and rights of the Banking Inspectorate is defined by the Government.

Article 51: Objects and objectives of the Banking Inspectorate

1. Structure and operations of credit organizations, as well as banking operations of other organizations are subject to banking inspections.

2. The Banking Inspectorate's aim is to partially assure the security of the system of credit organizations, protect depositors' legal rights and interests, and serve the national monetary policy.

Article 52: Operations of the Banking Inspectorate Operations of the Banking Inspectorate include:

  1. Inspecting the implementation of legal regulations on currency and banking operations, as well as stipulations in banking operation licences;
  2. Discovering, preventing and dealing with violations within the range of its competence; and proposing competent bodies to punish legal transgressions related to currency and banking operations;
  3. Suggesting measures to assure the implementation of the law on currency and banking operations.

Article 53: Rights of the Banking Inspectorate When inspecting, the Banking Inspectorate has the following rights:

  1. Request entities and individuals subject to inspection and related parties to provide materials and evidences, and to respond to questions involving this inspection;
  2. Take inspection minutes and proposes measures to deal with the low-down.
  3. Apply measures to prevent and punish infringements in accordance with legal regulations.

Article 54: Responsibilities of the Banking Inspectorate When inspecting, the Banking Inspectorate must be responsible for:

  1. Showing inspection decision and inspector card;
  2. Orderly implementing inspection procedures, not disturbing ordinary banking operations and causing losses to lawful interests of credit organizations and others engaged in banking operations;
  3. Reporting to the governor on inspection results and proposing measures to deal with the situation;
  4. Observing laws and being responsible to the governor and laws for inspection conclusion, acts and decision by itself.

Article 55: Rights of credit organizations and other establishments involved in banking operations in case of inspection by the Banking Inspectorate When the Banking Inspectorate conducts inspections, credit organizations and other establishments relating banking operations will have the following rights:

  1. Require inspectors to show inspection decision and inspector cards, and to fulfil the law on inspection;
  2. Complain, denounce and bring a suit to State competent bodies against inspector's deeds and conclusion and the Banking Inspectorate's decision which they think are incorrect;
  3. Require to compensate losses caused by the Banking Inspectorate's irrational acts and decision contrary to the laws.

Article 56: Obligations of credit organizations and other 'establishments engaged in banking operations in case of inspection by the Banking Inspectorate When the Banking Inspectorate conducts inspection, credit organizations and other establishments involved in banking operations will have the following obligations:

  1. Obey the Banking Inspectorate's inspection requirements;
  2. Abide by the Banking Inspectorate's decisions.

Article 57: General Control

1. The General Control is a SBV's subsidiary, having duties as follows:

  1. Control operations of SBV's subsidiaries;
  2. Locally audit centrally-managed units running banking operations;

2. The General Control's specific structure, obligations and rights are clarified by the governor.

Chapter VI

Praise, Reward and Violation Punishment

Article 58: Praise and reward Organizations and individuals that have made achievements in banking operations, contributed to the socio-economic development, and ensured safe operations of the system of credit organizations are praised and rewarded in accordance with legal regulations.

Article 59: Objects and transgressions

1. Establishments and individuals that have violated regulations in Article 29 of this law; been engaged in banking operations without permission or outside the scope of regulations indicated in licences; disturbed SBV's examination and inspection; and infringed other regulations of this law as well as other legal stipulations on currency and banking operations are punished in accordance with legal regulations and the seriousness of the violations.

2. SBV's staff and officials that have transgressed regulations in Article 14 of this law; lacked responsibility when implementing duties; and covered up violations of this law and other legal stipulations on currency and banking operations by organizations and individuals are punished according to characteristics and seriousness of violations and in conformity with legal regulations.

3. In cases where organizations and individuals have violated regulations in Points 1 and 2 of this article, causing losses to interests of the State or organizations and individuals, must provide compensation in accordance with legal stipulations.

Article 60: SBV's competence for punishing administrative violations SBV is competent for dealing with administrative transgressions by organizations and individuals in the area of currency and banking operations in accordance with legal regulations.

Article 61: Complaints and lawsuits against decisions on administrative violation punishments

1. Organizations and individuals subject to administrative violation punishments involving currency and banking operations have the right to complain about the decision regarding administrative violation punishment to State-run competent bodies or to sue at the court of law. Complaints and lawsuits must abide by legal regulations.

2. During complaint and lawsuit time, organizations and individuals subject to administrative violation punishment must implement decision on administrative violation punishment. When receiving effective decision on clearing up complaints from State-run competent bodies or effective judgment or decision from the court of law, organizations or individuals must abide by this decision or judgment.

Chapter VII

Implementation Provisions

Article 62: Implementation validity

1. This law becomes effective from October 1,1998.

2. The Ordinance on the State Bank of Vietnam dated May 23, 1990 becomes ineffective from the date this law is issued.

3. The Government, the Supreme People's Court and the Office of Public Prosecutor in the range of their duties and rights are required to check legal regulations on currency and banking operations in order to abrogate, amend, add and introduce the new ones by themselves, or to propose the Standing Committee of the National Assembly and the National Assembly to abrogate, amend, add and promulgate new ones to match regulations of this law.

Article 63: Implementation instruction The Government stipulates in details and instructs to implement this law. This law was passed by the National Assembly of the Socialist Republic of Vietnam at the 2nd Session of 10th Legislature, on December 12, 1997.

 

Chairman of the National Assembly

Nong Duc Manh

 

 

 

 

 

Operations of the State Bank

 



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