THE
STATE BANK OF VIETNAM
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SOCIALIST
REPUBLIC OF VIETNAM
Independence- Freedom Happiness
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No.
365/2004/QD-NHNN
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Hanoi,
April 13, 2004
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DECISION
ON
THE LENDING TO VIETNAMESE WORKERS WHO GO AND WORK ABROAD
THE GOVERNOR OF THE STATE
BANK
- Pursuant to the Law on the
State Bank of Vietnam No. 01/2997/QH10 dated 12 December, 1997; the Law on the
amendment, supplement of several Articles of the Law on the State Bank of
Vietnam No. 10/2003/QH11 dated 17 June, 2003 and the Law on Credit Institutions
No. 02/1997/QH10 dated 12 December, 1997;
- Pursuant to the Decree No. 86/2002/ND-CP dated 05 November, 2002 of the
Government providing for the function, assignment, authority and organizational
structure of the ministries and ministerial level agencies;
- Pursuant to the Decree No. 39/2003/ND-CP dated 18 April, 2003 of the
Government providing in details for and guiding the implementation of the Labor
Code on work;
- Pursuant to the Decree No. 81/2003/ND-CP dated 17 July, 2003 of the
Government providing in details for and guiding the implementation of the Labor
Code on Vietnamese workers who are working in foreign countries;
- Pursuant to the Decree No. 78/2002/ND-CP dated 4 October, 2002 of the
Government on credit to the poor and other policy subjects;
- Upon the proposal of the Director of Monetary and Policy Department,
DECIDES:
Article 1. Governing
scope and subjects of application
This Decision shall provide for
the lending in VND and foreign currencies by Credit Institutions to Vietnamese
workers, experts and training students (hereinafter referred to as worker) who
go and work abroad:
1. The State owned Commercial
banks, joint stock commercial banks, joint venture banks, branches of foreign
banks in Vietnam, finance companies, central people's credit Fund and local
people's credit funds shall lend to workers who are not prioritized under
current policy. The Bank for Social Policy shall grant preferential loans to
prioritized workers under current policy stipulated in Article 2 of this
Decision.
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a. Through Vietnamese
enterprises, which are permitted to engage in labor providing services under
the contract entered into with the foreign party.
b. Through Vietnamese
enterprises, which engage in contracts, sub-contracts for projects or invest in
foreign countries.
c. According to the labor
contracts, which are directly entered into between individual workers and labor
employers in a foreign country.
Article 2. Prioritized workers under current
policy
1. Prioritized workers under
current policy shall include:
a. Spouse, children of
revolutionary martyrs;
b. Wounded soldiers (including
wounded soldiers of B level who had been confirmed before 31 December, 1993,
hereinafter referred to as on-the-job accident soldiers), persons who can
benefit from the social policy like the wounded soldiers and have lost their
working capability from 21% upward (hereinafter referred to as wounded
soldiers);
c. Spouse, children of wounded
soldiers;
d. Children of armed-force
heroes, labor heroes, children of persons who have jointed the resistant war,
persons who have made contribution to the revolution and been honored with
resistant medals, orders, children of revolutionary cadres who participated in
the revolution prior to August of 1945;
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2. Agencies that confirm a
worker to be a prioritized one under current policy:
a. In respect of prioritized
workers as provided in points a, b, c and d Paragraph 1 of this Article who are
managed and paid with allowances by the local government, the Bureau of Labor-
Disabled Soldiers - Social Affairs of district level, which manage their files
or their name lists and perform the payment of allowances, shall make this
confirmation; in case where workers are working in military, public security
units, the confirmation shall be made by the military, public security units,
which manage and pay allowances to them; in case they are managed and paid with
allowances by the medial treatment establishments for serious wounded soldiers,
which operate under the management of Ministry of Labor- Disabled Soldiers -
Social Affairs, the Directors of these medial treatment establishments shall
make the confirmation.
b. In respect of workers from
poor family households stipulated in point d Paragraph 1 of this Article, the
confirmation shall be made by the village people's committee; poor family
households, which have legal resident address and are included in the list of
poor family households decided upon by the village people's committee in
accordance with the standard for the poor announced by the Ministry of Labor-
Disabled Soldiers - Social Affairs, shall be assessed and recommended by the
Savings and Borrowing Group.
Article 3. Lending
principles
Credit Institutions shall lend
to workers through their family household; in case where workers are living
alone, the lending shall be made directly to the workers.
Article 4. Requirements
for loan funds
Credit Institutions shall lend
for necessary expenses to workers who go and work abroad:
1. Workers who go and work
abroad through enterprises permitted to engage in labor providing activity
under the contract entered into with the foreign party, they shall be entitled
to borrow for financing expenditures such as: fee for labor export service,
deposit amount (if any), orientation training cost, deposit or guarantee amount
(if any), single airline ticket and other lawful expenses for their going and
working abroad.
2. Workers who go and work
abroad through Vietnamese enterprises that engage in contracts, sub-contracts
for projects or invest in foreign country shall be entitled to borrow for
financing expenditures such as: orientation training cost, single airline
ticket, other lawful expenses for their going and working abroad.
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Article 5. Loan security
1. The lending without assets
security and lending with assets security to workers who are not prioritized
under current policy shall be performed as follows:
a. Credit Institutions shall
consider, decide and take self-responsibility for their decision on the lending
without the application of any measure of assets security in case where the
lending is made through the family household of workers who fully satisfy
conditions provided for in Paragraph 18 Article 1 of the Decree No.
85/2002/ND-CP dated 25 October, 2002.
b. Commercial banks shall be
permitted to consider, decide and take self-responsibility for their decision
on the lending up to VND 20 million without the application of any measure of
assets security in case where the lending is made through the family household
of workers in rural area, which fail to fully satisfy conditions provided for
in Paragraph 18 Article 1 of the Decree No. 85/2002/ND-CP dated 25 October,
2002.
c. Credit Institutions lending
to workers who are not governed by cases mentioned in point a, b of this
paragraph and lending to live-alone workers must take measures of assets
security in accordance with provisions of applicable laws on the loan security
of Credit Institutions.
d. For loans made through the
family household of worker with assets security, the loan security contract
shall be signed between the Credit Institution with representative of that
family household and persons who jointly own assets. For loans directly made to
live-alone worker with assets security, the loan security contract shall be
entered into between the Credit Institution and the worker or with the party
authorized by the worker under provisions of applicable laws.
2. Prioritized workers under the
current policy who borrow funds from the Bank for Social Policy to go and work
abroad shall not be subject to assets pledge.
Article 6. Borrowing file
shall include:
1. Documents in accordance with
provisions of applicable civil laws that prove the funds borrowers to be the
representative of the family household of the worker who goes and works abroad.
For workers, who go and work abroad and borrow preferential funds from the Bank
for Social Policy, there must be documents of the State Competent agency, which
prove that they are prioritized under current policy.
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3. Documents, which prove that
the worker goes and works abroad:
a. For workers who go and work
abroad through Vietnamese enterprises, which are permitted to engage in labor
providing activity in accordance with the contract entered into with the
foreign party, there must be a written notice or confirmation of the enterprise
(or of the subsidiary which is assigned with the labor export activity in
accordance with provisions in Paragraph 13, Article 14 of the Decree No.
81/2003//ND-CP o dated 17 July, 2003) on the recruitment of the worker to go
and work abroad or the contract entered into by the enterprise, which has the
permit for labor export activity and the worker who goes and works abroad.
b. For workers who go and work
abroad through an enterprise that engage in contracts, subcontracts for
projects or invests in foreign countries and employs Vietnamese workers, there
must be a contract entered into by them and that enterprise.
c. For workers who go and work
abroad in accordance with an individual contract directly entered into by the
workers and labor employers in foreign country, there must be a certification
proving that the individual contract has been registered in the Department of
Labor - Disabled Soldiers - Social Affairs where the workers reside;
4. Loan security contract,
documents concerning assets security and the performance of debt repayment (if
any);
5. Other documents evidencing
the full satisfaction of conditions for funds borrowing.
Article 7. Lending level
Credit Institutions shall, based
on the potentially mobilized funds sources and funds requirements in line with
provisions of current laws on the finance regime applicable to workers who go
and work abroad; the application of provisions on loan security; repayment
capacity of workers, of family households of workers, determine the lending
level. The maximum lending level shall not be in excess of necessary expenses,
which are stipulated in Article 4 of this Decision. The maximum lending level
to the prioritized workers under current policy who borrow funds from the Bank
for Social Policy shall be decided upon by the Board of Directors of the Bank
for Social Policy.
Article 8. Lending period
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Article 9. Loan repayment
If a Vietnamese enterprise that
is permitted to engage in labor providing activity under a contract, which is entered
into with the foreign party or another Vietnamese party that engages in
contracts, sub-contracts for projects or invests in foreign country, can manage
incomes of workers in foreign country, Credit Institutions, workers and the
Vietnamese enterprise may agree in writing that the Vietnamese enterprise
deducts the incomes of workers to directly repay debts to Credit Institutions.
Article 10. Examination,
supervision of borrowed funds
Credit Institutions shall
directly examine, supervise the process of funds borrowing, funds usage pending
the completion by workers of procedures for exit. After their exit, Credit
Institutions shall examine the repayment of borrowed funds through the family
household of the workers in the country, or through the third party that uses
their own assets as the guarantee for the workers' borrowing from Credit
Institutions. In case where Credit Institutions, workers and enterprises agree
that the enterprises deduct the workers' incomes to make repayment to Credit
Institutions, the examination of the repayment of borrowed funds shall be
performed through Vietnamese enterprises that are permitted to engage in labor
providing activity or Vietnamese enterprises that engage in contracts,
sub-contracts for projects or invest in foreign country.
Article 11. Application
of other provisions on the lending
Where any content concerning the
lending to workers who go and work abroad is not provided for in this Decision,
the applications of provisions of applicable laws on the lending shall be performed
as follows:
1. The lending to workers, who
are not prioritized under current policy shall be performed in accordance with
provisions in the Regulation on the lending by Credit Institutions to customers
issued in conjunction with the Decision No. 1627/2001/QD-NHNN dated 31
December, 2001 of the Governor of the State Bank and other related legal
documents.
2.The lending to prioritized
workers under current policy shall be performed in accordance with provisions
in Decree No. 78/2002/ND-CP dated 4 October, 2002 of the Government on credit
to poor persons and other prioritized subjects under current policy and other
related legal documents.
Article 12. Implementing
provisions
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2. Credit Institutions shall,
based on provisions in this Decision and other related legal documents, issue a
guidance on the lending to the workers who go and work abroad, which is in line
with their conditions, characteristics and Charters, secures the safety and
efficiency. Cooperative Credit Institutions Department of the State Bank shall
provide local people's Credit funds with guidance on lending operation to the
workers who go and work abroad.
3. Heads of units of the State
Bank, General Managers of the State Bank's branches in provinces, cities under
the central Government's management; Board of Directors, General Directors
(Directors) of Credit Institutions mentioned in Article 1 of this Decision
shall be responsible for the implementation of this Decision.
FOR
THE GOVERNOR OF THE STATE BANK
DEPUTY GOVERNOR
Phung Khac Ke