Công văn 4925/NHNN-CSTT

Saigon Liberation Newspaper, edition No.11506 dated 28/6/2009 published an article titled “Using bank loan funds to buy luxurious car”, in which, there is a paragraph: In Quang Binh province at present, local private enterprises have been profusely trying to buy a new model of car with 5-7 seats made by world famous car maker… of which, many cars are bought with loan fund which enjoy preferential interest rate for investment in production development granted by the Government. In order to timely deal with the case mentioned by the newspaper, the Governor of the State Bank hereby requires the commercial banks and State Bank Branches in provinces, cities as follows:

1. To comply with provisions of applicable laws on inspecting the lending with interest rate support and dealing with cases of employing loan funds with interest rate support for the wrong purpose in accordance with provisions of applicable laws on interest rate support, Directive No.01/CT-NHNN dated 25/05/2009 on several measures of ensuring the prudential, effective business operation of credit institutions and the Plan on examination, inspection of the State Bank. Where there is any violation as stated in Saigon Liberation Newspaper and similar violation acts, the amount of money entitled to interest rate support shall be recovered immediately in compliance with applicable provisions and the false loan, concerned people shall be considered treating in accordance with provisions of applicable laws.

2. The State Bank – Quang Binh Branch shall coordinate with local credit institutions to examine, inspect the use of loan funds with interest rate support for the wrong purpose as mentioned in the article of Saigon Liberation Newspaper and deal with any act of violation in line with provisions of applicable laws on lending with interest rate support; to make report to President of Provincial People’s Committee and Governor of the State Bank on the examination, inspection results and measures of settlement prior to 7th July 2009.