Circular 06 supplements the regulation that banks are not allowed to lend in certain cases. Specifically, they are not allowed to lend to carry out business investment activities in industries and trades prohibited from investment and business according to the provisions of the Investment Law; to pay expenses and meet financial needs of business investment activities in industries and trades prohibited from investment and business according to the provisions of the Investment Law and other transactions and acts prohibited by law.
At the same time, banks are not allowed to lend to buy gold bars or to repay loans granted by credit institutions (except in cases of lending to pay interest on loans arising during the construction process, in which interest costs are calculated in the total construction investment approved by competent authorities according to the provisions of law).
Many new regulations on lending are applied from 1.9.
Banks are also not allowed to lend to customers to repay foreign loans (excluding foreign loans in the form of deferred payment for goods purchases) or credit facilities at other credit institutions, except in cases of lending to repay loans before maturity that fully meet the conditions.
The Circular stipulates that banks are not allowed to lend money for deposits; pay for capital contributions, purchase, or receive transfers of capital contributions of limited liability companies or partnerships; contribute capital, purchase, or receive transfers of shares of joint stock companies that are not listed on the stock market or have not registered for trading on the Upcom trading system.
In particular, banks are not allowed to lend to pay for capital contributions under capital contribution contracts, investment cooperation contracts or business cooperation contracts to implement investment projects that do not meet the conditions for putting into business according to the provisions of law at the time the credit institution decides to lend...
In addition, the Circular also amends and supplements regulations in the direction of controlling lending for investment in securities trading; lending for real estate purchase and trading; lending for investment projects in the form of public-private partnerships; lending for capital needs serving life with great value according to the assessment of credit institutions; lending by electronic means.
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