THE STATE BANK OF VIETNAM
DECISION No. 09/2008/QD-NHNN OF APRIL 10, 2008, ON FOREIGN
CURRENCY LOANS PROVIDED BY CREDIT INSTITUTIONS TO
RESIDENT CUSTOMERS
THE STATE BANK GOVERNOR
Pursuant to the 1997 Vietnam State Bank Law and the 2003 Law Amending and Supplementing a Number of Articles of the Vietnam State Bank Law;
Pursuant to the 1997 Law on Credit Institutions and the 2004 Law Amending and Supplementing a Number of Articles of the Law on Credit Institutions;
Pursuant to the December 13, 2005 Ordinance on Foreign Exchange;
Pursuant to the Government’s Decree No. 52/2003/ND-CP of May 19, 2003, defining the functions, tasks, powers and organizational structure of the State
Bank of Vietnam;
Pursuant to the Government’s Decree No. 160/2006/ND-CP of December 28,
2006, detailing the implementation of the Ordinance on Foreign Exchange;
At the proposal of the director of the Monetary Policy Department,
DECIDES:
Article 1. Credit institutions licensed to conduct foreign exchange operations may consider and decide to provide resident customers with foreign currency loans for the following capital demands:
1. Payment to foreign countries for the import of goods and services for production and business activities.
2. Pre-mature payment of foreign debts, if the loans satisfy the following conditions: They are provided in accordance with the foreign exchange law’s provisions on foreign loans and payment of foreign debts; borrowing customers are capable of repaying loan principals and interests in foreign currencies; and loan expenses are saved as compared to the borrowing of foreign capital.
3. Direct offshore investment under the law on investment and the State
Bank’s guidance.
Article 2.- Credit institutions shall provide foreign currency loans according to this Decision, the law on foreign exchange loan and management and relevant provisions of law.
Article 3.- Implementation provisions

Vietnam Law & Legal Forum 1

1.
This Decision takes effect 15 days after its publication in “CONG BAO” 1 and replaces Decision No. 966/2003/QD-NHNN of August 22, 2003, of the
Vietnam State Bank Governor, on foreign currency loans provided by credit institutions to resident customers.
2. The director of the Office, the director of the Monetary Policy Department, heads of units and directors of provincial/municipal branches of the State
Bank; management board chairmen and general directors (directors) of credit institutions shall implement this Decision.
State Bank Governor
NGUYEN VAN GIAU
1 CONG BAO Nos 247-248 (01-5-2008)

Vietnam Law & Legal Forum 2