Sector Insight

On January 18, 2024, 5th extraordinary session, the Law on Credit Institutions (Amended) was officially voted and passed by the National Assembly. The main changes in this draft law include: risk provisions, early intervention for credit institutions, legalization of Resolution 42/2017/QH14 on handling non-performing loans and collateral, roadmap for tightening share ownership ratio, credit lending limit. The law takes effect from July 1, 2024; clause 3, Article 200 and clause 15, Article 210 take effect from January 1, 2025.