Vietnam

The main institutions providing microfinance services in Vietnam are state owned banks, and People’s Credit Funds (community-based financial cooperatives); there are also semi-formal entities including mass organizations (ex. workers unions), foreign NGOs and specialized microfinance funds. State owned banks and People’s Credit Funds are regulated by the State Bank of Vietnam (SBV). Microfinance services provided by semi-formal entities are not formally regulated. Legislative and regulatory efforts are currently underway to transform unregulated microfinance service providers into microfinance institutions that will be regulated by the SBV.

Regulators

• State Bank of Vietnam

Microfinance & Banking

• Decision No. 03/2007/QD-NHNN amending Regulations on Prudential Ratios in Operations at Credit Institutions (enacted in 2007) (English)
• Decision No. 34/2008/QD-NHNN amending Regulation on Prudential Ratios in (enacted in 2008) (English)
• Decree No. 165/2007/ND-CP amending Decree No. 28/2005/ND-CP on the organization and operation of microfinance institutions in Vietnam (enacted in 2007) (English)
• Decree No. 28/2005/ND-CP on the Organization and Operation of Microfinance Institutions in Vietnam (enacted in 2005) (English)
• Decree No. 48-2001-ND-CP on Organization and Operation of People’s Credit Funds (enacted in 2001) (English)
• Law No. 01/1997/QH10 on State Bank of Vietnam (enacted in 1997) (English)
• Law No. 02/1997/QH10 on Credit Institutions (enacted in 1997) (English)
• Law No. 10/2003/QH11 Amending Law No. 01/1997/QH10 on State Bank of Vietnam (enacted in 2003) (English)
• Law No. 18/2003/QH11 on Cooperatives (enacted in 2003) (English)
• Law No. 20/2004Law No. 20/2004/QH11 amending Law No. 02/1997/QH10 on Credit Institutions/QH11 amending Law No. 02/1997/QH10 on Credit Institution (enacted in 2004) (English)
• Regulations on Prudential Ratios in Operations at Credit Institutions (enacted in 2005) (English)
• SBV Circular No. 07-2009-TT-NHNN Regulations on Prudential Ratios in Operations of Small Finance Institutions (enacted in 2009) (English)
• SBV Decision No. 284/2000/QD-NHNN1 on Loan Provision to Customers by Credit Institutions (enacted in 2000) (English)