Customers may have to provide relevant person information if they borrow over 100 million VND (Illustrative Image)
According to the draft Circular amending and supplementing some articles of Circular No. 39/2016/TT-NHNN on lending activities of credit institutions, branches of foreign banks, customers borrowing capital over 100 million VND must provide relevant person information to credit institutions.
Information about the relevant person includes: full name; personal identification number; nationality, passport number, date of issue, place of issue for foreigners; relationship with the customer.
Information about the relevant person as a legal entity includes: name, business registration number, registered office address of the company, business registration certificate number or equivalent legal documents, legal representative, relationship with the customer.
In an interview with Nguoi Lao Dong newspaper, a leader of the State Bank said that through the incident of Van Thinh Phat Company, the management agency saw that this company had established many subsidiary companies that borrowed too much money from banks, using borrowed capital for improper purposes destabilizing the market. Therefore, the Law on Credit Institutions of 2024 just approved by the National Assembly has provisions that borrowers must provide information about related persons who are organizations and individuals.
“Therefore, the draft Circular amending and supplementing some articles of Circular No. 39/2016/TT-NHNN on lending activities of credit institutions stipulates that borrowers over 100 million VND must provide relevant person information to credit institutions in order to synchronize with the provisions of the Law on Credit Institutions of 2024. As for who the related persons are, the Circular amending and supplementing some articles of Circular No. 39/2016/TT-NHNN will be specified in the future” – said the leader of the State Bank.
