The system of People’s Credit Funds: new model of cooperatives in the banking sector

The State Presidential Office held a press conference to announce the State President’s Order onthe promulgation of a number of legislations passed by the 14thNational Assembly at the 4thSession, one of which was the Law on amendments and supplements to some articles of the Law on Credit Institutions (Amended Law).The Amended Law will be officially effective on January 15th 2018, composing of 3 articles: Article 1 amending and supplementing 32 articles, and adding 28 new articles; Article 2 on implementation provisions and Article 3 on transitional provisions.