This post is also available in: Tiếng Việt (Vietnamese)
VMFWG is pleased to share with you the content of the SBV’s original response about interest rate for Microfinance operation in Vietnam (Detail in Official Dispatch of The State Bank of Vietnam responding for Official Letter No.0402/CV-MFWG sent to the SBV in February 4, 2013, attached),in brief as follows:
– Lending interest rate
For loans as the particularities of Microfinance Institutions that do not meet enough requirements/conditions about financial transparency and visibility under the provisions of Circular No. 10/2013/TT-NHNN, Microfinance Institutions implement lending interest rate mechanism basing on agreement in accordance with Section 3, Article 4, Circular No. 10/2013/TT-NHNN and Circular No. 12/2010/TT-NHNN in April 14, 2010 of The Governor of The State Bank of Vietnam.
– The calculating method of interest rate on loans
Microfinance Institutions implement interest in accordance with the regulations of the State Bank of Vietnam and Credit Institutions about calculating and revenue accounting , interest payment method issued in accompanying with Decision No. 652/2001/QĐ-NHNN in May 17, 2001 of The Governor of The State Bank of Vietnam.