Press Release No. 17, 5th Session, 15th National Assembly

Saturday, June 10, 2023 | 16:27:50

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On Saturday, June 10, 2023, the National Assembly continued the 17th working day of the 5th Session at the National Assembly House under the chairmanship of National Assembly Chairman Vuong Dinh Hue.

View of the National Assembly session on June 10, 2023. (Photo: DUY LINH).

Morning

The National Assembly discussed in groups: (1) Draft Law on Citizen Identification (amended); (2) Draft Law on Telecommunications (amended).

Afternoon

Under the direction of Vice Chairman of the National Assembly Nguyen Duc Hai, the National Assembly discussed in the hall the draft Law on Credit Institutions (amended). The session was broadcast live on Vietnam National Assembly Television.

At the discussion session, 21 delegates spoke and 1 delegate debated, in which the majority of delegates agreed with the necessity of amending the Law according to the Government's Proposal and the Verification Report of the National Assembly's Economic Committee to institutionalize the Party's policies and guidelines; overcome limitations and shortcomings after more than 12 years of implementing the Law on Credit Institutions (CIs) 2010 and the Law amending and supplementing a number of articles of the Law on CIs 2017 to enhance the safety, soundness and stability of the CI system; create a mechanism for handling bad debts and handling collateral of bad debts of CIs; ensure the unity and synchronization of the legal system and compatibility with Vietnam's international commitments related to the financial and banking sectors.

To continue perfecting the draft Law, delegates focused on discussing the following contents: Scope of regulation; application of the Law on Credit Institutions, international treaties, international trade practices and related laws; interpretation of terms; business registration; risk prevention for the system; special control, cross-ownership in credit institutions; interest rates, fees in the business activities of credit institutions; on stopping transactions; rights and procedures for seizing secured assets; handling bad debt assets; providing information to crime prevention and control agencies; ensuring legitimacy when opening bank accounts; customer information system; responsibilities of the State Bank of Vietnam; financial groups; digitalization policy of banking activities; controlled testing mechanism; operations of policy banks; share ownership ratio; compulsory reserve fund; special loans; collateral for special loans; procedures for seizing secured assets; Participants, simplified procedures in handling bad debts; handling bad debts, collateral of bad debts; selling bad debts and collateral and buying and selling bad debts of organizations buying and selling and handling bad debts; real estate business; Vietnam Bank for Social Policies; trust and agency operations, agency assignment; cases where one is not allowed to hold the positions of member of the Board of Directors, member of the Board of Members, member of the Board of Supervisors, General Director (Director), Deputy General Director (Deputy Director) and equivalent positions as prescribed in the Charter of the credit institution; Board of Directors of the People's Credit Fund; credit limit; return of collateral as evidence in criminal cases, administrative violations; responsibilities of local authorities; detailed regulations and implementation instructions; procedures for passing the draft Law...

At the end of the discussion session, Governor of the State Bank of Vietnam Nguyen Thi Hong explained and clarified a number of issues raised by National Assembly delegates.

(From June 11 to June 18, 2023, the National Assembly will be on recess to give the National Assembly, Government and relevant agencies time to absorb, revise and complete draft laws and draft resolutions).

Monday, June 19, 2023: Morning: The National Assembly discussed in the hall the draft Law on Housing (amended). The session was broadcast live on Vietnam National Assembly Television.

Afternoon: The National Assembly voted to pass the Resolution on approving the 2021 State budget settlement, the Law on Prices (amended); listened to Minister of Construction Nguyen Thanh Nghi, authorized by the Prime Minister, present the Report on the draft Law on Real Estate Business (amended); listened to Chairman of the National Assembly's Economic Committee Vu Hong Thanh present the Report on the review of the draft Law on Real Estate Business (amended). After that, the National Assembly discussed in groups about this draft Law.

According to: nhandan.vn

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