The new Law on Credit Institutions No. 32/2024/QH15 (“Law on Credit Institutions 2024”) was officially ratified by the National Assembly of Vietnam on January 18, 2024. It will come into effect on July 1, 2024, with the exceptions taking effect from January 1, 2025. The Law on Credit Institutions 2024 aims to enhance the safety of the credit institution system by implementing more robust regulations for risk prevention, including stringent control measures for the management and staff of credit institutions. Below we would like to discuss some ‘Key Changes’ of the law.

#credit #institutions #banks #law #Vietnam The State Bank of Vietnam