Proposal to remove many regulations in Circular 06 of the State Bank

Accordingly, HoREA proposed to remove the regulation that credit institutions must specifically regulate "controlling the use of loan capital for the right purpose" at Point c, Clause 6 and Point b, Clause 9, Article 1 of Circular 06.

Because credit institutions are almost unable to implement this regulation in the case of lending to pay for capital contributions under capital contribution contracts, investment cooperation contracts or business cooperation contracts to implement projects.

Because the final user of the loan is the project investor, not the direct customer borrowing this credit.

At the same time, abolish point c, clause 6 and point b, clause 9, article 1 of Circular 06, not stipulating that credit institutions "must have measures to block the loan disbursement amount at the lending credit institution" for "the case of lending to pay money to ensure the performance of obligations" to ensure consistency and unity with other regulations.

HoREA proposed to remove some regulations of Circular 06. (Illustration photo)

At the same time, HoREA requested the State Bank to consider abolishing Clauses 8, 9 and 10, Article 8 of Circular No. 39/201 (supplemented under Clause 2, Article 1 of Circular 06) because these regulations have only ceased to be effective since September 1 according to Circular 10/2023.

Recently, commenting on some regulations of the Draft Law on Credit Institutions, HoREA frankly said that almost all credit institutions have real estate business activities because they are "green-lighted" to be allowed by regulations.

Specifically, according to Mr. Le Hoang Chau, Chairman of HoREA, Clause 2, Article 90 of the Law on Credit Institutions 2010 and Clause 2, Article 98 of the Draft Law on Credit Institutions both stipulate that "credit institutions are not allowed to conduct any business activities other than banking activities".

In addition, Article 132 of the Law on Credit Institutions 2010 and Article 138 of the Draft Law on Credit Institutions both stipulate that "credit institutions are not allowed to do real estate business".

However, the following provisions in Clause 2, Article 90 of the Law on Credit Institutions 2010 and Clause 2, Article 98 of the Draft Law on Credit Institutions allow credit institutions to conduct "other business activities stated in the License granted to the credit institution by the State Bank" and the following provisions on "exceptional" cases allowed to "conduct real estate business activities" in Article 132 of the Law on Credit Institutions 2010 and Article 138 of the Draft Law on Credit Institutions.

" These regulations have led to the reality that almost all credit institutions have "other business activities", mainly "real estate business activities" because they have been "given the green light" to do so ," said Mr. Le Hoang Chau.

Ngoc Vy

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