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Can I borrow USD from banks in Vietnam?

Bấm vào đây để xem bản dịch tiếng Việt của bài viết này Click HERE to see the Vietnamese translation of this article
Question date: 28/09/2022

If borrowing capital at banks, is the borrowers allowed to borrow foreign currencies at banks? Looking forward to hearing from you soon.

    • In Article 11 of Circular 39/2016/TT-NHNN, it is stipulated:

      Article 11. Currency units used for extending loans or repaying debts

      1. Credit institutions and their customers shall agree on a loan denominated either in Vietnamese dong or another foreign currency unit as appropriate to provisions laid down herein and relevant legislation.

      2. Currency unit used for debt repayment is the one used in a loan.

      Thus, according to the above-mentioned regulations, if the customer makes a loan at a bank in Vietnam that needs to borrow foreign currency, he/she has the right to make an agreement with the lending bank to receive the loan amount in foreign currency.

      Best Regards!

    Above is legal advice provided for customers of LawNet . If you require any further information, please send an email to nhch@lawnet.vn
    "This English translation is for reference purposes only and not a definitive translation of the original Vietnamese texts"

    LEGAL BASIS OF THIS SITUATION
    • Article 11 of Circular 39/2016/TT-NHNN Download
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