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ARTICLE · 16 AUGUST 2010

2010 Law on Credit Institutions

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The 12th National Assembly of Vietnam ("NA") passed the new Law on Credit Institutions at its seventh session on 16 June 2010 ("2010 Law on Credit Institutions" or "New Law").

VietnamFinance and Banking
Mai Phuong Nguyen
Mai Phuong Nguyen
Cuong Manh Nguyen
Cuong Manh Nguyen
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Originally published August 13, 2010

Keywords: Vietnam, national assembly, new law, credit institutions

The 12th National Assembly of Vietnam ("NA") passed the new Law on Credit Institutions at its seventh session on 16 June 2010 ("2010 Law on Credit Institutions" or "New Law").

The 2010 Law on Credit Institutions aims at ensuring safe and effective operation of the nation's banking system.

Once effective on 1 January 2011, the 2010 Law on Credit Institutions will replace the 1997 Law on Credit Institutions ("1997 Law on Credit Institutions").

This legal update summarises the 2010 Law on Credit Institutions, chapter by chapter, and tries to highlight its new key points by comparing it with the 1997 Law on Credit Institutions.

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