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ARTICLE · 20 NOVEMBER 1995

Vietnam - Legal Overview - Banking

Mayer Brown
Mayer Brown
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The laws of Vietnam are complex and new legislation is constantly being introduced. What follows is no more than an introductory overview that we hope will assist investors to decide which areas of law they will need to research further.

This summary is, necessarily, selective and is no substitute for detailed legal advice.

1. All organisations offering services within the financial sector are known as credit institutions and must be licensed by the State Bank, whose overall powers are regulated by the Ordinance on the State Bank of Vietnam of 23 May 1990.

Its role is similar to that of any central bank:-

- to hold the country's gold and currency reserves, issue currency and manage currency circulation

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