Decision No. 10/QD-NH1 Regarding the adjustment of interest rates for additional working capital loans provided by the State Bank to the Vietnam Gold and Precious Metals Corporation System

DECISION OF THE GOVERNOR OF THE STATE BANK OF VIETNAM

Regarding the adjustment of interest rates for additional working capital loans granted by the State Bank to the Vietnam Precious Metals and Gems Corporation systemPursuant to the State Bank Law promulgated pursuant to Decree No. 37/LCT-HĐNN8 dated May 24, 1990 of the Chairman of the State Council of the Socialist Republic of Vietnam;

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Now, the interest rate for additional working capital loans granted by the State Bank to the Vietnam Precious Metals and Gems Corporation system is adjusted from 1.7% per month to 1.2% per month.

Pursuant to Decree 15/CP dated March 2, 1993 of the Government on the tasks, powers, and responsibilities for state management of ministries and ministerial-level agencies;

At the proposal of the Director of the Economic Research Department;

DECISION:

Article 1. The interest rate prescribed in Article 1 of this Decision shall be applied as of January 16, 1996, and shall replace the 1.7% interest rate for additional working capital loans granted by the State Bank to the Vietnam Precious Metals and Gems Corporation as stipulated in Article 1 of Decision No. 244/QĐ-NH1 dated October 1, 1994 of the Governor of the State Bank.

Article 2. The outstanding balance of the Vietnam Precious Metals and Gems Corporation with the State Bank as of the end of January 15, 1996, shall all apply the interest rate prescribed in this Decision.

The Director of the Governor's Office, the Head of the Credit Department, the Heads of relevant units at the Central Bank, the General Directors of the Vietnam Precious Metals and Gems Corporation, and the Directors of the State Bank Branches in provinces and cities are responsible for implementing this Decision.

Article 3. The Director of the Governor's Office, the Head of the Credit Department, the Heads of relevant units at the Central Bank, the General Director of the Vietnam Gold, Silver, and Precious Stones Corporation, and the Directors of the State Bank Branches in provinces and cities are responsible for implementing this Decision.