Directive No. 04/CT-NH5 Regarding the Summary of Activities of Business Forms in the Banking Sector

DIRECTIVE

ON THE COMPREHENSIVE REVIEW OF THE OPERATIONS OF ENTERPRISE TYPES IN THE BANKING SECTOR

In accordance with Directive No. 305/TTg dated May 24, 1995 of the Prime Minister on the comprehensive review of the operations of enterprises under all economic sectors, the Governor of the State Bank directs units at the Central Bank, credit organizations, the Gold and Precious Stones Corporation, provincial and municipal gold and precious stones companies, banking enterprises, and units directly under the industry trade union to immediately implement the comprehensive review of the operations of enterprise types within the banking sector as follows:

1. Objectives and Content of the Review:

Fully grasp the purpose, requirements, and scope of the review of business reform work as stated in Directive No. 305/TTg of the Prime Minister, the review of the reform work of banking enterprises over the past ten years (from 1985), particularly from the time the Banking Ordinance was enacted (October 1990) until now, aims to assess the results of the reform process and the implementation of the Banking Ordinance. The review must highlight achievements, shortcomings, and reasons, and on this basis propose directions, measures, and recommendations to further promote the reform process in the banking sector until the year 2000.

2. Assignment of Responsibilities:

The review will be carried out in two stages:

a. Stage 1: Based on the guidelines outlined in Document No. 2999/ĐMDN dated June 1, 1995 of the Government Office, heads of units at the Central Bank should promptly direct the compilation of data at specified points in time, provide an assessment of the situation, and outline major aspects of the development direction for banking and credit enterprises during the period 1996-2000 according to the division of labor set forth at the meeting on June 5, 1995.

b. Stage 2: Credit organizations, the Gold and Precious Stones Corporation, provincial and municipal gold and precious stones companies, banking enterprises, and units engaged in business under the industry trade union shall conduct a comprehensive self-review of their operational situations according to Directive No. 305/TTg dated May 24, 1995 of the Prime Minister and the guidelines provided, and submit reports to the State Bank as stipulated below:

- Credit institutions shall submit their reports to the Department of Financial Institutions. Joint-stock credit institutions, cooperative credit institutions, and people's credit funds must also submit their reports to the State Bank branch in their respective provinces or cities.

- The Gold and Precious Stones Corporation and provincial and municipal gold and precious stones companies shall submit their reports to the Department of Foreign Exchange Management.

- Banking enterprises shall submit their reports to the Enterprise Management Division.

- Units engaged in business under the industry trade union shall submit their reports to the industry trade union.

3. Regarding Timeframe:

a. Units at the Central Bank shall complete and submit their reports according to the division of labor set forth in Clause 2a to the Department of Financial Institutions before June 9, 1995.

b. The Department of Financial Institutions shall compile the reports of the units and submit them to the Governor's Office on June 10, 1995.

c. The Governor's Office shall draft a summary report to be presented to the leadership team at the meeting on June 12, 1995, and send it to the Government Office before June 15, 1995.

d. Credit organizations, the Gold and Precious Stones Corporation, provincial and municipal gold and precious stones companies, banking enterprises, and units engaged in business under the industry trade union shall complete the submission of their unit reports to the State Bank according to the regulations before July 20, 1995.

e. State Bank branches in provinces and cities shall submit comprehensive reports on credit organizations (mainly joint-stock credit institutions, cooperative credit institutions, and people's credit funds) in their jurisdictions to the Central State Bank (Department of Financial Institutions) before July 20, 1995.

f. From July 20 to July 30, 1995, functional units at the Central Bank shall compile reports and submit them to the Governor's Office for consolidation across the entire sector.

g. After August 1, 1995, the State Bank shall organize a conference where units will present their consolidated reports, and the Governor's Office shall make final adjustments to submit the report to the Government Office before August 10, 1995.

The review of the reform activities in the banking sector is part of the overall review of the reform activities of enterprises nationwide, contributing to preparing the political report for the 8th National Party Congress. This is an important and urgent task. The Governor of the State Bank requests that heads of units at the Central Bank, directors of State Bank branches in provinces and cities, general managers, and directors of credit institutions, the Gold and Precious Stones Corporation, provincial and municipal gold and precious stones companies, units engaged in business under the industry trade union, and banking enterprises concentrate their efforts to direct the completion of their unit's review report with high quality and within the prescribed timeframe, highlighting practical suggestions and proposals from their own units to enhance the effectiveness of the reform process in our sector.