Joint Circular No. 15/TTLB-BC guiding information on the banking industry in the press

JOINT CIRCULAR

Issued by the Ministry of Culture and Information - The State Bank of Vietnam

No. 15/1997/TTLB-BVHTT-NHNN dated March 10, 1997 guiding information on the banking industry in the press

Since the State promulgated the Press Law, Ordinances on the Banking Industry, press agencies and the banking sector have cooperated in propaganda, encouraging the banking industry during the process of reform and identifying issues that need to be further improved to meet the requirements for economic and social development in the industrialization and modernization period. However, banking activities have distinctive characteristics and high social and international nature, therefore, all information about banking activities on mass media not only directly affect banking operations, national monetary stability, domestic economy but also impact the position of the Vietnamese banking system in the international arena. To create favorable conditions and enhance the role of the press in the banking reform cause, based on: the Press Law, Ordinances on Banking; the National Security Secrets Protection Ordinance; the National Security Secrets Protection Regulation issued together with Decree No. 84-HĐBT dated March 9, 1992;

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The Joint Ministry of Culture and Information - The State Bank of Vietnam hereby issues this Circular to unify guidance on information about the banking industry in the press as follows:

1. Organizations and units within the banking industry have the responsibility to provide accurate, timely, and prompt information to press agencies regarding policies and banking activities.

2. The State Bank of Vietnam has the responsibility to provide the list of state secrets related to the banking industry to press agencies. When there are changes (additions or expiration) to the list of state secrets related to banking, the State Bank of Vietnam must notify press agencies so that they can comply with the National Security Secrets Protection Ordinance when reporting on banking activities.

3. When there are inaccurate reports about banking activities by the press or critical opinions, the head of that bank must take responsibility to explain or write follow-up articles for press agencies regarding the information reported by the press, while also having the responsibility to report to the managing bank, the provincial State Bank, and the central State Bank.

4. To ensure the accuracy and objectivity of press information, press agencies should consult with the relevant bank or the State Bank of Vietnam when publishing or broadcasting news or articles about specialized and deep banking activities.

5. For press agencies wishing to exploit and use secret information about the banking industry, they must obtain the consent of the head of the bank directly managing such secrets according to Article 5 of the National Security Secrets Protection Regulation issued together with Decree No. 84/HĐBT dated March 9, 1992 of the Council of Ministers (now the Government).

6. In cases where articles containing false or inaccurate information about the banking industry, affecting its reputation and individual honor, after the conclusion of the competent state agency or the correction statement from the bank, press agencies must strictly implement Article 3 on corrections in the press as stipulated in Decree No. 133-HĐBT dated April 20, 1992 of the Council of Ministers (now the Government) detailing the implementation of the Press Law.

In case of differing opinions, the Ministry of Culture and Information will chair discussions to resolve unresolved issues.

7. The Department of Economic and Banking Business Information - The State Bank of Vietnam will coordinate with the Press Department - Ministry of Culture and Information through press review and inspection to recommend the Joint Ministry to commend press agencies with outstanding achievements and handle violations of the National Security Secrets Protection Ordinance.

8. Regularly, the State Bank of Vietnam and the Ministry of Culture and Information will organize meetings and seminars with press agencies and related sectors to exchange experiences and improve information about the banking industry.

9. This Circular takes effect fifteen days from the date of issuance. Any amendments or supplements to this Circular shall be within the purview of the Minister of Culture and Information and the Governor of the State Bank of Vietnam.

MINISTRY OF CULTURE AND INFORMATION