Decision No. 262/QD-NH21 stipulates the management and use of the rescheduled loan funds of the State Bank of Vietnam to implement the Project for modernizing banks and payment systems. This decision applies to the Banking Information Technology Center, the Bank Project Management Board, and the Accounting and Finance Department. A notable point is the allocation of specific loan funds to each unit to carry out sub-projects.
Scope of application
The Banking Information Technology Center, the Bank Project Management Board, the Accounting and Finance Department, and units under the State Bank of Vietnam.
Key points
- The Banking Information Technology Center → uses loan funds equivalent to 12,714,000 USD to implement the inter-bank payment sub-project → in accordance with the provisions of the Development Credit Agreement, Feasibility Study, and Prime Minister's Investment Decision.
- The Bank Project Management Board → uses loan funds equivalent to 486,000 USD to hire consulting experts to support overall project management → in accordance with the provisions of the Development Credit Agreement, Feasibility Study, and Prime Minister's Investment Decision.
- The Director of the Banking Information Technology Center and the Head of the Bank Project Management Board → are responsible for using loan funds effectively and for their intended purposes in accordance with the law.
- The Accounting and Finance Department → is responsible for guiding the accounting of loan funds used by the Banking Information Technology Center and the Bank Project Management Board and coordinating to determine the sources of World Bank repayment funds.
- This Decision takes effect fifteen days from the date of signing.
🌐 Social impact of this document
- Positive impact: Helps improve management capacity and modernize the banking system, enhancing financial service quality.
- Negative impact: May increase the cost burden on the State Bank of Vietnam during the implementation of projects.
❓ Frequently asked questions
How much loan capital does the Banking Information Technology Center use?
The Banking Information Technology Center uses loan capital equivalent to no more than 12,714,000 USD.
How much loan capital does the Bank Project Management Board use?
The Bank Project Management Board uses loan capital equivalent to 486,000 USD.
What regulations must the Banking Information Technology Center and the Bank Project Management Board follow when using loan capital?
Both units must comply with the provisions of the Development Credit Agreement, Feasibility Study, Prime Minister's Investment Decision, and other legal documents governing investment management and construction, state borrowing and foreign debt repayment.
When does this Decision take effect?
This Decision takes effect fifteen days from the date of signing.
What responsibilities does the Accounting and Finance Department have in managing loan capital?
The Accounting and Finance Department is responsible for guiding the Bank Project Management Board in accounting for loan funds and coordinating to determine the sources of World Bank repayment funds.
Full text
Pursuant to …;
On the management and use of the loan capital reallocated by the State Bank of Vietnam within the framework of the Project to modernize the Bank and Payment System
GOVERNOR OF THE STATE BANK OF VIETNAM
Pursuant to the State Bank Law dated May 23, 1990;
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 Decision No. 531/TTg dated July 12, 1997 of the Government Prime Minister on investment in the Modernization of Banking and Payment System project;
Pursuant to the Development Credit Agreement No. 2785 VN signed between the Socialist Republic of Vietnam and the World Bank on January 16, 1996;
Pursuant to the World Bank's Project Appraisal Report No. 14823-VN dated October 25, 1995;
Pursuant to Circular No. 3365 UB/VPTĐ dated September 30, 1995 of the Chairman of the National Appraisal Council submitting the Feasibility Project for the Modernization of Banking and Payment System to the Government Prime Minister for approval;
Pursuant to the World Bank's letter to the Governor of the State Bank of Vietnam dated July 25, 1997 regarding the detailed allocation of costs under Credit Line 2785-VN;
At the proposal of the Head of the Bank Projects Management Board,
Pursuant to …;
Article 1. The Bank Computing Center is assigned to use the loan amount not exceeding 12,714,000 USD (twelve million seven hundred fourteen thousand US dollars) out of the total loan amount of 13,200,000 USD (thirteen million two hundred thousand US dollars) allocated to the State Bank of Vietnam under Credit Agreement No. 2785-VN to implement the inter-bank payment sub-project.
The Director of the Bank Computing Center shall be responsible for using the loan effectively, for its intended purpose, in accordance with the provisions of the Development Credit Agreement, the Feasible Project, the Government Prime Minister's Investment Decision, and other legal documents governing investment management and construction, foreign borrowing and repayment management.
Article 2. According to the approved withdrawal plan and tendering plan, the Director of the Bank Computing Center shall proactively carry out the withdrawal of funds through the Bank Projects Management Board in accordance with the current World Bank regulations on disbursement for the Project. The Director of the Bank Computing Center shall be responsible for the validity of the withdrawal request and accompanying documents. The Head of the Bank Projects Management Board shall be responsible for disbursing funds according to the requirements of the Director of the Bank Computing Center in accordance with the World Bank's disbursement regulations and procedures.
Article 3. The Bank Projects Management Board is assigned to use the loan amount equivalent to 486,000 USD (four hundred eighty-six thousand US dollars) out of the total loan amount of 13,200,000 USD (thirteen million two hundred thousand US dollars) allocated to the State Bank of Vietnam under Development Credit Agreement No. 2785-VN to hire consulting experts to support the Bank Projects Management Board in managing the overall Project.
The Head of the Bank Projects Management Board shall be responsible for using the loan effectively and for its intended purpose in accordance with the provisions of the Development Credit Agreement, the Feasible Project, the Government Prime Minister's Investment Decision, and other legal documents governing investment management and construction, foreign borrowing and repayment management.
Article 4. The Accounting and Finance Department shall be responsible for guiding the Bank Projects Management Board in accounting for the loan amounts used by the Bank Computing Center and the Bank Projects Management Board, and coordinating with the Bank Projects Management Board to determine the source of funds to repay the World Bank the loan allocated to the State Bank.
Article 5. This Decision takes effect fifteen days from the date of signing. The Governor's Office Director, the Head of the Bank Projects Management Board, the Director of the Bank Computing Center, the Accounting and Finance Department Director, and the heads of units directly under the State Bank of Vietnam are responsible for implementing this Decision.
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