Circular No. 10/2023/TT-NHNN dated August 23rd, 2023 of the State Bank of Vietnam on suspension of implementation effect of some contents of Circular No. 39/2016/TT-NHNN prescribing lending transactions of credit institutions and/or foreign bank branches with customers (which has been supplemented at Circular No. 06/2023/TT-NHNN)

This Circular is to suspend implementation effect of clauses 8, 9 and 10 Article 8 of Circular No. 39/2016/TT-NHNN regarding rejected loan demands, including:

“8. Loans used for making capital contribution to, buying or receiving transfer of stakes of a limited liability company or a partnership, or shares of a joint-stock company that is not yet listed on the securities market or registered for trading on the Upcom system.

9. Loans used for making capital contributions under capital contribution contracts, investment cooperation contracts or business cooperation contracts for executing investment projects that are unfit for sale or for business operation as prescribed by laws when the credit institution issues its lending decision.

10. Loans used for financial offsetting purposes, except for those meeting the following conditions:…”

The suspension shall be applied until a new legislative document prescribing these matters comes into force.

This Circular takes effect from September 1st, 2023.