Decision No. 1020/2002/QD-NHNN On Issuing the Financial Management Regulation for the Credit Information Center

DECISION OF THE GOVERNOR OF THE STATE BANK OF VIETNAM

Regarding the issuance of Financial Management Regulations

concerning the Credit Information Center

GOVERNOR OF THE STATE BANK OF VIETNAM

Pursuant to Decree No. 15/CP dated March 2, 1993 of the Government on the tasks, powers, and responsibilities for state management of Ministries and ministerial-level agencies;

Pursuant to Decree No. 88/1998/NĐ-CP dated November 2, 1998 of the Government on the functions, powers, and organizational structure of the State Bank of Vietnam;

Pursuant to Decree No. 100/1998/NĐ-CP dated December 10, 1998 of the Government on the financial regime of the State Bank of Vietnam;

At the proposal of the Director of the Accounting and Finance Department,

DECISION:

Article 1. This Decision promulgates the Financial Management Regulation for the Credit Information Center.

Article 2. This Decision takes effect from January 1, 2003.

Article 3. The Director of the Office of the State Bank of Vietnam, the Director of the Credit Information Center, the Head of the Accounting-Finance Department, the Head of the General Supervision Department, and the Heads of units under the State Bank of Vietnam are responsible for implementing this Decision.

FINANCIAL MANAGEMENT REGULATION FOR THE CREDIT INFORMATION CENTER

(Promulgated together with Decision No. 1020/2002/QĐ-NHNN dated September 19, 2002 of the Governor of the State Bank of Vietnam)

PART I

general provisions

Article 1.- The Credit Information Center is a public service unit within the organizational structure of the State Bank of Vietnam, having the function of collecting, analyzing, forecasting, exploiting, and providing information services on enterprises and other relevant information related to monetary and banking activities to the State Bank of Vietnam, credit institutions, other organizations, and individuals both domestically and internationally as prescribed by law.

Article 2.- The Credit Information Center maintains its own balance sheet, receives from the State Bank of Vietnam the management of certain capital and assets necessary for operations, and is responsible for using such capital and assets reasonably, thriftily, and effectively in accordance with the financial regime applicable to the State Bank of Vietnam.

Article 3.- The Head of the Accounting-Finance Department reviews the annual financial plan for the Credit Information Center within the scope of the annual financial plan of the State Bank of Vietnam that has been approved by the Governor.

Article 4.- The Credit Information Center must record all types of capital, assets, revenues, and expenditures accurately and promptly in accounting books in accordance with the regulations of the State and the State Bank of Vietnam. Annually, after settlement, the Credit Information Center transfers the revenue-expenditure surplus to the State Bank of Vietnam.

Chapter II

Revenues and expenditures of the credit information center

Article 5.- The revenues of the Credit Information Center include:

1- Service fees for utilizing credit information;

2- Fees for consulting and searching for information and selecting customers;

3- Fees for training and guiding credit information business and specialized seminars, advertising;

4- Sponsorship and technical support fees from domestic and foreign organizations and individuals;

5- Other revenues (surplus fund, penalty fees for breach of contract, proceeds from liquidation of labor tools, low-value consumables...).

Article 6.- The expenditures of the Credit Information Center include:

1- Business operation expenses:

a) Expenses for leasing communication and telecommunication services and charges;

b) Purchase of information;

c) Commission and service fees for consulting in information search;

d) Other service expenses.

e) Other expenses (taxes, fees, and levies): Incurred based on actual occurrence and supported by lawful and valid documentation.

2- Administrative expenses: Implemented according to the regulations of State Bank units within the approved budget;

a) Expenses for staff salaries, allowances, welfare, and rewards, including:

Salaries and allowances;

Lunch expenses;

Uniforms for transactions;

Contributions according to salary; social insurance, health insurance, trade union fees, and other contributions according to regulations;

Rewards and welfare: Monthly rewards and welfare for staff can be provided (0.87).

The expense for rewards and welfare for staff of the Credit Information Center shall be centralized at the Accounting-Finance Department.

Subsidies: Only implemented upon specific guidance from the Accounting-Finance Department of the State Bank of Vietnam;

Social work expenses.

b) Expenses for administrative management and official duties, including:

Expenses for materials and printing paper;

Travel expenses;

Training and vocational education expenses;

Research and application of science and technology expenses;

Postage and telephone expenses;

Publicity and advertising expenses, purchase of documents and books;

Other management expenses.

c) Expenses for assets, including:

Depreciation of fixed assets;

Purchase of labor tools;

Maintenance of hardware and software of the credit information network and repair and maintenance of other assets;

Rental expenses for assets: This expense can only be implemented upon notification from the Accounting-Finance Department after approval by the Governor.

Article 7. The procurement of fixed assets (Tangible Fixed Assets) of the Credit Information Center shall be carried out in accordance with the current regulations of the State Bank of Vietnam.

Article 8. The Credit Information Center implements accounting records according to the accounting accounts system issued by the Governor of the State Bank of Vietnam.

Accounting entries must be based on lawful and valid invoices and receipts as prescribed by the State. The Director of the Credit Information Center is responsible for the details, accuracy, truthfulness, and correctness of all financial revenues and expenditures in accordance with the financial regime of the State and the State Bank of Vietnam.

The Credit Information Center may use account 591 "Other Settlements between State Bank Units" at the State Bank's Trading Department to conduct transactions in settlements.

Article 9. The Credit Information Center implements the reporting system as prescribed by the Governor of the State Bank of Vietnam regarding the reporting system for units under the State Bank of Vietnam.

Chapter III

Budgeting and finalizing revenue and expenditure

Article 10. Annually, by the second month of the third quarter (no later than August 20), the Credit Information Center prepares the revenue and expenditure budget, the fixed asset procurement plan, and the information equipment acquisition plan for the following year and sends it to the Accounting-Finance Department for review. The revenue and expenditure budget should be constructed with the aim of gradually increasing revenue over expenditure.

During implementation, if the approved budget does not meet the reasonable needs arising, the Credit Information Center prepares a supplementary budget and sends it to the Accounting-Finance Department for consideration and resolution. The supplementary budget review for expenditures is conducted at the end of the third quarter each year.

The examination and approval of the annual financial revenue and expenditure report of the Credit Information Center shall be conducted in the same manner as for budgetary units under the State Bank.

Chapter IV

Implementation Provisions

Article 11. The Director of the Credit Information Center is responsible for organizing the implementation of this Regulation within the unit.

The Head of the Accounting and Finance Department is responsible for guiding, inspecting, approving the annual financial plan, and settling the financial revenue and expenditure of the Credit Information Center.

The Head of the Internal Audit Department is responsible for organizing internal audits of the activities of the Credit Information Center according to the assigned functions and tasks.

Article 12.- Any amendment or supplementation to this Regulation shall be decided by the Governor of the State Bank of Vietnam./.