Decision No. 72/NH-QD Regarding the Supplement to the Rules on Term Deposits

DECISION

NUMBER 72/NH-QĐ OF MAY 31, 1989

ON AMENDING THE REGULATIONS FOR SAVINGS DEPOSITS

DIRECTOR

STATE BANK OF VIETNAM

Pursuant to Decision No. 55-CT dated March 10, 1989 of the Chairman of the Council of Ministers authorizing the Director of the State Bank of Vietnam to decide and announce interest rates for savings deposits;

Pursuant to Decision No. 71-NH/QĐ dated May 29, 1989 of the Director of the State Bank of Vietnam on determining interest rates for savings deposits;

Considering the actual situation after a period of implementing the regulations for savings deposits,

DECIDES:

Article 1.- Repeal Decision No. 45-NH/QĐ dated April 18, 1989 on amending and supplementing point b of Article 2 of the Regulations for Savings Deposits.

Now stipulates as follows point b of Article 2 of the Regulations for Savings Deposits issued by Decision No. 30-NH/QĐ dated March 17, 1989 of the Director of the State Bank:

b) A three-month term savings deposit with interest is a lump-sum deposit that pays principal and interest in full at maturity. Early withdrawal does not entitle to any interest.

Article 2 - This Decision takes effect from June 1, 1989.

Article 3 - The Directors of Central Specialized Banks, Heads of Departments, Institute Directors, Heads of Bureaus at the Central State Bank, Governors of Provincial and Municipal State Banks, and Special Administrative Region State Banks are responsible for implementing this Decision.