On 31/12/2017, the State Bank issued Circular No. 27/2017/TT-NHNN amending Circular No. 03/2013/TT-NHNN regulating credit information activities of the State Bank of Vietnam Male. This Circular takes effect on 01/07/2018.
Accordingly, the Circular No. 27/2017/TT-NHNN has the following important amendments and supplements as follows:
To remove the Vietnam Development Bank from the list of voluntary organizations participating in the credit information system: The voluntary organization participating in the credit information system only has the function of purchasing and selling debt. debt management and asset exploitation, credit information companies, insurance business enterprises, securities companies.
To supplement the objects of credit information exploitation, specifically: Foreign credit information organizations may exploit credit information products on enterprises, including information publicized under the provisions of law. Law on the basis of the memorandum of understanding, the agreement on cooperation, the service contract signed with CICB, the rights and obligations of the credit information center: signing the memorandum of understanding, cooperation agreement or translation contract with the foreign credit information institutions, in accordance with the law of each country, to cooperate in sharing experience, exchange information credit products.
As can be seen, the Circular 27/2017/TT-NHNN has made important amendments and additions, thereby contributing to improve the provisions in the credit information activities of the State Bank of Vietnam.