Circular No. 72/2003/TT-BTC amends certain points of Circular No. 56/2003/TT-BTC dated June 9, 2003, issued by the Ministry of Finance guiding the implementation of financial management regulations for the Social Policy Bank promulgated together with Decision No. 180/2002/QĐ-BTC dated December 19, 2002, of the Government.

CIRCULAR

Amending some points of Circular No. 56/2003/TT-BTC dated

 09/6/2003 of the Ministry of Finance guiding the implementation of financial management regulations for the Social Policy Bank issued together with Decision No. 180/2002/QĐ-TTg dated 19/12/2002 of the Prime Minister

To facilitate the operations of the Social Policy Bank, the Ministry of Finance guides the amendment of some provisions stipulated in Circular No. 56/2003/TT-BTC dated June 9, 2003 of the Ministry of Finance guiding the implementation of financial management regulations for the Social Policy Bank issued together with Decision No. 180/2002/QĐ-TTg dated December 19, 2002 of the Prime Minister as follows:

1. Amend the provision on interest rates for mobilizing capital in the form of receiving deposits from domestic organizations and individuals; mobilizing savings from poor people; borrowing from domestic financial institutions and credit institutions stipulated at Point 2.1 - Section I - Chapter II as follows:

"In the case where the Social Policy Bank mobilizes capital in the form of receiving deposits from domestic organizations and individuals; mobilizing savings from poor people; borrowing from domestic financial institutions and credit institutions, the interest rate for mobilizing capital shall not exceed the deposit interest rate of the same term and period of state-owned commercial banks operating in the same locality."

2. Amend the provision on payment of remuneration to village and ward cadres stipulated at Point 2.4 - Section V - Chapter II as follows:

"Payment of remuneration to village and ward cadres at a rate of 80,000 VND/village or ward/month"

This Circular takes effect fifteen days from the date of publication in the Official Gazette.

Any difficulties encountered during implementation should be reported to the Ministry of Finance for consideration and resolution./.