According to the agenda of the 9th Session of the 15th National Assembly, this weekend, authorized by the Prime Minister, Governor of the State Bank of Vietnam (SBV) Nguyen Thi Hong will present the Proposal for the Law on Amending and Supplementing several Articles of the Law on Credit Institutions (CIs). The National Assembly will hear the Report on the Review of this Law from the Chairman of the Economic and Financial Committee.
Previously, at the 44th Session on April 24, 2025, the National Assembly Standing Committee gave opinions on the Law on Amending and Supplementing a Number of Articles of the Law on CIs.
Law amending and supplementing several articles of the Law on Credit Institutions in accordance with the country's development process in the new era
Speaking at the session, SBV Governor Nguyen Thi Hong said that Resolution 27-NQ/TW of the Central Committee has pointed out practical issues that have been proven correct and have high consistency and need to be legalized. Resolution 42 has been piloted for 7 years, not a special policy but a regular activity of banks, because bad debt is a continuous issue in credit activities. The legalization of Resolution 42 is consistent with international practice, which clearly stipulates that if a debt cannot be paid, the collateral must be disposed of.
Regarding the constitutionality and legality of the provision on the seizure of collateral, the Ministry of Justice has assessed and confirmed that it is not contrary to the Constitution. The seizure of assets is not unconditional or unilateral, but is based on an agreement between the credit institution and the customer from the time of signing the loan contract. The draft clearly stipulates the conditions, order, and procedures for seizure, and strictly prohibits the application of measures that violate the law or social ethics. Credit institutions must issue internal regulations, and agencies such as local authorities and the police will monitor to prevent abuse, ensure order and the rights of all parties, etc.
According to financial and banking experts, the amendment and supplementation of a number of articles of the Law on Credit Institutions is a correct policy, consistent with the country's development process in the new era. However, the draft law needs to clarify the consistency and synchronization of the legal system when codifying these provisions with current laws such as the 2013 Constitution, the Civil Code, the Criminal Procedure Code, the Law on Handling of Administrative Violations, and the Law on Enforcement of Civil Judgments.
The draft law amends and supplements a number of articles of the Law on Credit Institutions, adding provisions on the right to seize secured assets, seize secured assets as evidence in criminal cases, and provisions on the return of secured assets as evidence and means of administrative violations. At the same time, amend and supplement the provisions in Clause 1, Article 193 of the current Law on Credit Institutions to transfer the authority to decide on special loans of the State Bank. Accordingly, the State Bank decides on special loans (with or without collateral) for credit institutions; the special loan interest rate of the State Bank is 0%/year.
The amendment and supplementation of a number of articles of the current Law on Credit Institutions is expected to ensure the legitimate rights and interests of the parties, the unity of the legal system, and humanity when exercising the right to seize secured assets.
Source: sbv/gov.vn/VNBA News
