IMPLEMENTATION LEVEL

National

AFFECTED FLOW

Inflow

ANNOUNCED AS TEMPORARY

No

NON-TRADE-RELATED RATIONALE

No

ELIGIBLE FIRMS

all

JUMBO

No

TARIFF PEAK

No
← back to the state act
Inception date: 09 May 2011 | Removal date: 08 May 2012
Still in force

Controls on credit operations

 On 24 March 2011, the State Bank of Vietnam (SBV) issued Circular No.07/2011/TT-NHNN restricting foreign currency lending in Vietnam. Local and foreign banks are allowed to lend in foreign currency only for specific cases which include - 
 

  • short, medium or long-term loans to make payments to overseas parties for purchase of goods and services, or
  • short-term loans for business in exporting goods via Vietnamese border gates, further if the borrower borrows in foreign currency for these capital requirements to use inside Vietnam, they must sell foreign currency to the lending credit institution in the form of a spot transaction

Further, to avail such loans, the borrowers will have to demonstrate that they will have sufficient foreign currency to repay these loans. For loans for all other purposes, an approval from SBV will be required.
 
This measure takes effect from 9 May 2011. 

AFFECTED COUNTRIES

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