Decision No. 286/QD-NH5 Regarding the Re-establishment of the Vietnam Bank for Foreign Trade

Pursuant to …;

Regarding the Re-establishment of the Vietnam Bank for Foreign Trade

GOVERNOR OF THE STATE BANK OF VIETNAM

Pursuant to the State Enterprise Law dated April 20, 1995;
Pursuant to the Ordinance on the State Bank of Vietnam, the Ordinance on Banks, Credit Cooperatives, and Financial Companies promulgated by Decrees No. 37/LCT-HĐNN8 and No. 38/LCT-HĐNN8 dated May 23, 1990 of the Chairman of the State Council;
BASED ON 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. 90/TTg dated March 7, 1994 of the Prime Minister on the continued restructuring of state enterprises;
Pursuant to Document No. 3329/ĐMDN dated July 11, 1996 of the Government, authorizing the Governor of the State Bank to issue a decision to re-establish the Vietnam Bank for Foreign Trade;
At the proposal of the Director of the Financial Institutions Department,

DECISION:

Article 1. The Vietnam Bank for Foreign Trade is re-established based on the Vietnam Bank for Foreign Trade previously established according to Decision No. 68/QĐ-NH5 dated March 27, 1993 of the Governor of the State Bank. The Vietnam Bank for Foreign Trade operates under the model of a state-owned corporation as prescribed in Decision No. 90/TTg dated March 7, 1994 of the Prime Minister.

International trade name: Bank for Foreign Trade of Vietnam; Abbreviation: VIETCOMBANK;

Article 2. The Vietnam Bank for Foreign Trade is a state-owned corporation engaged in business operations with legal personality, its own seal and separate accounts; it is organized and operates according to the Charter approved by the Governor of the State Bank.

Head office located in Hanoi City

The charter capital is determined by the State at 1,100 billion Vietnamese dong

Article 3. The Vietnam Bank for Foreign Trade has the functions of currency trading, credit, banking services, and other activities listed in the Charter of the Vietnam Bank for Foreign Trade.

Article 4. The organizational structure of the Vietnam Bank for Foreign Trade includes:

- Board of Directors, Supervisory Board;

- General Director, supporting staff including internal control mechanisms;

- Member units comprising dependent accounting units, independent accounting units, and public service units.

The list of member units is recorded in the appendix attached to the Charter of the Vietnam Bank for Foreign Trade.

Article 5. The Vietnam Bank for Foreign Trade is responsible for completing all necessary registration procedures and operating according to the Charter of the Vietnam Bank for Foreign Trade and other regulations of the State, and is accountable before the State and the law for its activities.

Article 6. This Decision takes effect from the date of signing and replaces Decision No. 68/QĐ-NH5 dated March 27, 1993 of the Governor of the State Bank regarding the establishment of the Vietnam Bank for Foreign Trade.

Article 7. The Chief of the Governor's Office, the Directors of the Financial Institutions Department, the Organization and Training Department, the heads of subordinate units of the Central State Bank, the Board of Directors, and the General Director of the Vietnam Bank for Foreign Trade shall implement this Decision.