Decision No. 373/2003/QĐ-NHNN on amending and supplementing certain provisions of Decision No. 440/2001/QĐ-NHNN dated April 17, 2001 regarding loans for workers going abroad for a limited period.

Pursuant to …;

Regarding amendments and supplements to certain articles of Decision  No. 440/2001/QĐ-NHNN dated April 17, 2001 on lending to workers going abroad for a limited period The Government Decree No. 152/1999/NĐ-CP dated September 20, 1999 on the regulations concerning Vietnamese workers and experts going abroad for a limited period;

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GOVERNOR OF THE STATE BANK OF VIETNAM

Pursuant to the Law on the State Bank of Vietnam and the Law on Credit Organizations dated December 12, 1997;

Pursuant to Decree No. 86/2002/NĐ-CP dated November 5, 2002 of the Government stipulating functions, tasks, powers, and organizational structure of Ministries and Ministerial-Level Agencies;

The guidance opinion of the Prime Minister in Document No. 827/VPCP-KHTH dated February 25, 2003 on lending without collateral to workers going abroad for a limited period;

Amending and supplementing certain articles of Decision No. 440/2001/QĐ-NHNN dated April 17, 2001 on lending to workers going abroad for a limited period as follows:

Pursuant to the proposal of the Director of the Monetary Policy Department,

Pursuant to …;

Article 1. Article 6. Collateral for loans

1. Amend and supplement Article 6 as follows:

1. For workers under policy programs, state commercial banks shall lend without collateral.

2. For workers not under policy programs, the collateral for loans shall be implemented as follows:

a. State commercial banks shall consider and decide to lend without collateral to workers who meet the conditions stipulated in Clause 18, Article 1 of Government Decree No. 85/2002/NĐ-CP dated October 25, 2002.

b. State commercial banks shall consider and decide to lend up to twenty million dong without applying collateral measures to workers who do not meet the conditions stipulated in Clause 18, Article 1 of Government Decree No. 85/2002/NĐ-CP dated October 25, 2002.

c. In cases where workers must implement collateral measures for loans with assets, the signing and implementation of loan collateral contracts shall be as follows:

- For loans implemented through the household of the worker, the loan collateral contract shall be signed between the representative of the household and the state commercial bank.

- For direct loans to single workers, the loan collateral contract shall be signed between the state commercial bank and the worker, or with the person authorized by the worker in accordance with the law."

Article 7. Loan procedures

“1. The procedure for appointing, reappointing accounting managers and accounting supervisors, and assigning accounting supervisors shall be carried out according to the procedure for appointing mid-level professional positions as prescribed in Circular No. 29/2017/TT-BCA dated September 1, 2017 of the Minister of Public Security stipulating the procedures and formalities for appointing, dismissing, demoting, and changing positions within the People's Police, amended and supplemented by Circular No. 49/2023/TT-BCA dated October 18, 2023; Circular No. 77/2021/TT-BCA dated July 15, 2021 of the Minister of Public Security stipulating the list of positions and titles and the allocation and use of titles for police officers and non-commissioned officers of the People's Police, and Circular No. 78/2021/TT-BCA dated July 15, 2021 of the Minister of Public Security stipulating the standards for titles of police officers and non-commissioned officers of the People's Police, and any amendments and supplements to these Circulars (if any) and the following provisions:”

1. State commercial banks shall base their decision to lend on the contract signed between the worker and Vietnamese enterprises permitted to send workers abroad for a limited period or foreign employers in compliance with the provisions of Government Decree No. 152/1999/NĐ-CP dated September 20, 1999 and the loan application documents stipulated in Clause 2 of this Article.

2. The loan application documents for workers include:

a. Documents proving that the borrower is the head of the household of the worker going abroad for a limited period in compliance with the law. For workers themselves who fall under policy programs, they must have documents from competent state agencies certifying that the worker falls under a policy program.

b. A loan application from the head of the household or from the worker (in the case of single workers).

c. Notification or confirmation from Vietnamese enterprises permitted to send workers abroad for a limited period or from foreign employers regarding the recruitment of workers going abroad for a limited period.

d. Other documents proving eligibility for borrowing."

State commercial banks shall continue to lend to workers who themselves fall under policy programs until the transfer to the Social Policy Bank is completed. After this transfer date, if workers who themselves fall under policy programs need to borrow from state commercial banks, they shall be considered for lending in accordance with this Decision and treated as workers not under policy programs.

Article 2. This Decision shall take effect fifteen days after its publication in the Official Gazette.

Article 3

Heads of units under the State Bank; Branch Governors of the State Bank in provinces and centrally-administered cities; Management Boards, Chairmen (Directors) of the Social Policy Bank, and state commercial banks are responsible for implementing this Decision./.

2. The heads of units under the State Bank; the directors of provincial and centrally-administered city branches of the State Bank; the boards of directors, general managers (directors) of policy-oriented commercial banks and other commercial banks shall be responsible for implementing this Decision./.