Decree No. 165/2007/ND-CP amending Decree No. 28/2005/ND-CP on the organization and operation of microfinance institutions in Vietnam

Vietnam

(enacted in 2007)

Decree No. 165/2007/ND-CP amends, supplements and partially annuls Decree No. 28/2005/ND-CP on the organization and operation of microfinance institutions in Vietnam.

This decree include changes to the following:

  • Definitions of microfinance clients, microfinance services, compulsory savings, and voluntary savings;
  • Minimum capital requirements;
  • Branching;
  • Legal form;
  • Governance and ownership;
  • Auditing;
  • Disclosure requirements;
  • Limits on credit and savings mobilization;
  • Accounting; and
  • Transitional provisions.

Decree No. 28/2005/ND-CP can be found under “Related Laws/Regulations,” while SBV Circular No. 07-2009-TT-NHNN which also amends the decree can be found under “Related Amendments.”