Customers borrowing money from banks will have to declare information about related people.

03/15/2024 08:28 Nhat Linh Print article

ANTD.VN - When borrowing capital from a bank, customers must prove the purpose of using the capital, declare information about related people as well as report on the use of the loan capital.

This content was proposed by the State Bank in the draft Circular amending and supplementing a number of articles of Circular No. 39/2016/TT-NHNN dated December 30, 2016 of the Governor of the State Bank of Vietnam regulating lending activities of credit institutions and foreign bank branches to customers (CIs).

The draft regulation stipulates that customers are obliged to use the loan for the committed purpose, repay the principal, interest and fees in full and on time as agreed; report the use of the loan and provide information, documents and data proving that the loan is used for the correct purpose.

Credit institutions must require customers to provide information, documents, and data proving the customer's financial capacity, feasible capital usage plan, and legal capital usage purpose before deciding to lend, except for loans with small value (under 100 million VND).

At the same time, credit institutions have the right and obligation to inspect and supervise the use of loan capital and debt repayment by customers according to the provisions of Clause 1, Article 102 of the Law on Credit Institutions; have the right to request customers to report on the use of loan capital and provide information, documents and data proving that the loan capital is used for the right purpose.

Việc yêu cầu khách hàng khai thông tin người liên quan nhằm kiểm soát giới hạn cấp tín dụng cho nhóm khách hàng liên quan

Requiring customers to declare related person information is to control credit limits for related customer groups.

In particular, the draft Circular adds regulations that when there is a need for a loan, customers must send to credit institutions information, documents, and data proving eligibility for loans according to regulations and information about related persons according to regulations in the Law on Credit Institutions, regulations of the State Bank on limits and safety ratios in the operations of credit institutions, except in cases where the loan amount is small.

Information about the relevant individual, including: full name; personal identification number; nationality, passport number, date of issue, place of issue for foreigners; relationship with the customer.

Information about the related person is an organization, including: name, business registration number, head office address of the enterprise, business registration certificate number or equivalent legal documents, legal representative, relationship with the customer.

Customers are responsible for providing information, documents and data to credit institutions honestly, accurately, fully and promptly and are responsible for providing such information, documents and data, including reports on the use of loan capital and proof that the loan capital is used for the correct purposes stated in the loan agreement as well as documents proving the application of loan security measures (if any).

Clearly declaring information of related people is believed to help closely and accurately monitor the credit granting rate for related customer groups, especially "backyard lending", ensuring capital safety for banks.

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