Press release on issuance Circular No.05/2016/TT-NHNN on February 26th, 2016 on revising several contents of Circular No.03/2016/TT-NHNN on February 26th, 2016 on guiding the forex management of borrowing and repayment of overseas loans applied to enterprises.
Press release on issuance Circular No.05/2016/TT-NHNN on February 26th, 2016 on revising several contents of Circular No.03/2016/TT-NHNN on February 26th, 2016 on guiding the forex management of borrowing and repayment of overseas loans applied to enterprises.
The State Bank of Vietnam (SBV) issued Circular No.05/2016/TT-NHNN on April 15th, 2016 on revising several contents of Circular No.032016/TT-NHNN on February 26th, 2016 on guiding the forex management of borrowing and repayment of overseas loans applied to enterprises.
Accordingly, the SBV Governor has approved the amendment of several articles of Circular No.03/2016/TT-NHNN, as followed:
(i): Revising Article 4 on principles of management of overseas borrowing in the form of importing goods with deferred payment;
(ii) Revising Point 2, Article 24 on borrowing and repayment account, applied to foreign direct investment (FDI) enterprises.
(iii) Revising Article 28 on changing account used to record overseas loans.
(iv) Revising Article 32 on transfering money to pay foreign loans in the form of importing goods with deferred payment.
(v) Revising Point 2 Article 34 on payments relating to overseas loans that are not implemented via loan borrowing/ paying accounts.
The amendent of above regulations is made with the aim of creating favourable conditions for enterprises to pay foreign loans in the form of importing goods with deferred payment, and support credit institutions’ business activities. This Circular took effect from April 15th, 2016.
The State Bank of Vietnam