Draft Circular amending and supplementing a number of articles of Circular No. 39/2016/TT-NHNN

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On March 8, 2024, the State Bank issued a Draft Circular amending and supplementing Circular No. 39/2016/TT-NHNN dated December 30, 2016 regulating lending activities of credit institutions, foreign bank branches to customers to ensure uniform understanding in implementation, in accordance with legal regulations and practical requirements.

Accordingly, the draft retains the content of a number of regulations such as Scope of application (Article 1), Autonomy of credit institutions (Article 3), Use of language (Article 6), Type of loan (Article 10), Fees related to lending activities (Article 14), Loan guarantee (Article 15), Loan method (Article 30), Loan term (Article 31)...
The draft amends and supplements the following provisions: Concept of "lending", "loan" (Article 2), Principles of lending and borrowing capital (Article 4), Loan conditions (Article 7), Loan application documents (Article 9), Providing information (Article 16), Checking loan use (Article 24)...

The draft also stipulates the abolition of Article 29, Article 32 and Article 32g of Circular 39/2016/TT-NHNN.

Some notable drafts include the following:

- Reducing loan conditions for small value loans: for small value loans, a feasible capital use plan is not required.
- Additional documents required in the loan application dossier: information of the organization/individual requesting the loan including name, business code/personal identification number, nationality, head office address/address Resident…
- Additional regulations on checking loan use. Credit institutions have the right to request customers to report the use of loan capital and provide information, documents, and data proving that loan capital is used for the correct purpose. At the same time, the draft also requires credit institutions to check loan usage for small loans.


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