DECISION

ON AMENDMENTS OF AND SUPPLEMENTS TO OPERATION LICENSES GRANTED TO JOINT VENTURE BANKS OPERATING IN VIETNAM

THE GOVERNOR OF THE STATE BANK OF VIETNAM

Pursuant to the Law on State Bank of Vietnam and the Law on credit Institutions of December 12, 1997;
Pursuant to Decree No. 15/CP of March 02, 1993 of the Government on the tasks, powers and management responsibilities of the ministries and ministerial-level agencies;
Pursuant to Decree No. 13/1999/ND-CP of March 17, 1999 of the Government on organization, operation of foreign credit institutions and representative offices of the foreign credit institutions in Vietnam;
Pursuant to the directions of the Prime Minister in Official Letter No. 1367/CP-QHQT of November 17, 1998 on assigning the State Bank of Vietnam to study the loosening of the deposits receiving restraints of the joint venture banks;
At the proposal of the Head of the Department of Banks and Non-bank Credit Institutions,

DECIDES:

Article 1. To supplement Point 1, Item A, Clause II, Article V of the Operation Licenses of the joint venture banks as follows:

"To receive deposits in the form of opening accounts in foreign currencies having origins of Vietnamese individuals with maximum of not beyond 50 per cent of the charter capital of the joint venture bank"

Article 2.

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2. The Directors of the Offices, the Head of the Department of Banks and Non-bank Credit Institutions, the Heads of the relevant agencies attached to the State Bank of Vietnam, the General Directors of joint venture banks operating in Vietnam shall have to implement this Decision.

P.P THE GOVERNOVER OF THE STATE BANK OF VIETNAM
DEPUTY GOVERNOR




Tran Minh Tuan