On February 7, 2024, the State Bank of Vietnam (SBV) issued Decision No. 218/QD-NHNN announcing a number of amendments and supplementations of administrative procedures regarding the establishment and operations in the banking sector, which are performed at the Single Window Service under the SBV’s jurisdiction.
Accordingly, the administrative procedures amended and supplemented are currently stipulated in Circular No. 22/2022/TT-NHNN dated December 30, 2022 and Circular No. 24/2023/TT-NHNN dated December 29, 2023, and are performed at the Single Window Service under the SBV’s jurisdiction, specifically as follows:
The administrative procedures performed at the central SBV level include: the procedures for granting a License of Establishment and Operations to a Cooperative Bank; the procedures for granting a license to a micro-finance institution that is a one-member limited liability company; the procedures for granting a license to a micro-finance institution that is a limited liability company with two or more members; the procedures for granting a license to a micro-finance institution that is transformed from a microfinance program or project; the procedures for the approval of the expected list of personnel of a microfinance institution; the procedures for the approval of the expected list of personnel of a cooperative bank; the procedures for buying, selling and transferring a capital contribution between a current capital contributing member and a new member (a buyer, a transferee) of a microfinance institution that is a limited liability company with two or more members; the procedures for the approval of a charter capital increase of a joint stock non-bank credit institution, excluding the recapitalization from convertible bonds, the reserve fund to supplement the charter capital, an equity surplus fund, a retained profit, or any other funds in accordance with the applicable laws; the procedures for the approval of a recapitalization of a joint stock non-bank credit institution from convertible bonds, a reserve fund to supplement the charter capital, an equity surplus fund, a retained profit, or any other funds in accordance with the applicable laws; the procedures for the approval of buying, selling and transferring a capital contribution of a non-bank credit institution to a buyer or a transferee acting as the new owner; the procedures for the approval of the expected list of personnel of a credit institution; the procedures for requesting a change in the charter capital of a cooperative bank.
The administrative procedures performed at the SBV provincial branches include: the procedures for granting a License of Establishment and Operations to a People's Credit Fund; the procedures for the approval of the expected list of personnel of a People's Credit Fund; the procedures for the approval of the principles for the restructuring of a People's Credit Fund; the procedures for the approval of the restructuring of a People's Credit Fund; the procedures for the approval of a purchase, sale or transfer of shares between a major shareholder and an expected purchaser or a transferee as normal shareholders; the procedures for a purchase, sale or transfer of shares leading to a major shareholder becoming a normal shareholder at a non-bank credit institution; the procedures for the approval of a purchase, sale or transfer of shares between a major shareholder and an expected buyer or a transferee being another major shareholder; the procedures for the purchase, sale or transfer of shares leading to the creating of a major shareholder at a non-bank credit institution; the procedures for requesting a change in the charter capital of a People's Credit Fund.
The administrative procedures performed both at the central SBV level and the SBV provincial branches are the procedures for the approval of the list of expected personnel to be appointed as an Chief Executive Officer/General Director (Director) of a foreign bank branch.
This Decision takes effect from March 1, 2024. This Decision shall amend and supplement the administrative procedures under the following codes: 1.003207, 1.003241, 1.003072, 1.002797, 1.001898 as announced in Decision No. 248/QD-NHNN dated February 5, 2018; 1.001762 as announced in Decision No. 394/QD-NHNN dated March 14, 2018; 1.000763 as announced in Decision No. 891/QD-NHNN dated May 7, 2018; 2.001370 as announced in Decision No. 1814/QD-NHNN dated September 17, 2018; 1.003085, 1.003076 as announced in Decision No. 2044/QD-NHNN dated October 18, 2018; 2.001316, 1.003151 as announced in Decision No. 2044/QD-NHNN dated December 1, 2020; 1.001660, 1.001579, 1.001644, 1.001559 as announced in Decision No. 174/QD-NHNN dated February 8, 2023; 1.001815, 1.001796, 1.001773, 2.000055 as announced in Decision No. 658/QD-NHNN dated April 14, 2023.
Le Hang