MB permitted to issue bonds for 2009

Governor Nguyen Van Giau of the State Bank of Vietnam (SBV) issued, on February 23, Decision No. 348/QD-NHNN, to allow the Military Joint-Stock Commercial Bank (MB) to issue bonds for 2009 with the total face value of VND 5,000 billion. It stipulates that the interest rate of the bonds has to comply with Decision No. 16/2008/QD-NHNN dated May 16, 2008 on the management mechanism of the base interest rate in VND.

Under this decision, MB is required to conduct the issuance in compliance with its proposals submitted to SBV in terms of the purpose of issuance, maturity, issuing and payment methods, etc.. In regards to the denominations of bonds, MB should comply with the Regulations on issuing valuable papers in the domestic market promulgated with Decision No.07/2008/QĐ-NHNN of the SBV Governor dated March 24, 2008.

In addition, MB should conduct the issuance of bonds for 2009 to mobilize capital in line with Document No.07/2008/QD-NHNN. The bank is responsible for using bond-mobilized resources effectively and safely in accordance with the regulations of the SBV Governor.

sbv

>   Banks’ profit mainly comes from services (24/02/2009)

>   Money seeking way to multiply (24/02/2009)

>   Gold finds resistance at VND19.85 mln level (24/02/2009)

>   Bonds advance on rate-cut speculation; dong strengthens (24/02/2009)

>   Bank deposit rates up on higher credit demand  (24/02/2009)

>   Vietnam cuts petrol import tax again (24/02/2009)

>   Who pushes the gold price up to the peak? (24/02/2009)

>   Management of personal income tax faces many risks (24/02/2009)

>   SBV Action Plan on monetary, credit and banking solutions (23/02/2009)

>   State Bank tackles downturn (23/02/2009)