On July 2, 2024, the State Bank of Vietnam (SBV) issued Decision No. 1381a/QD-NHNN announcing a number of amendments and supplementations of the administrative procedures for the establishment and operations of banks, which are performed at the Single Window Service under the SBV’s jurisdiction.
The amended and supplemented administrative procedures, which are related to the establishment and operations of banks, are those stipulated in Circular No. 34/2024/TT-NHNN dated June 30, 2024, which are performed at the Single Window Service under the SBV’s jurisdiction. This Decision amends and supplements the administrative procedures under the following codes: 1.007956, 1.007957, which were previously announced in Decision No. 119/QD-NHNN dated January 27, 2022; and 1.007958, which was announced in Decision 2658/QD-NHNN dated December 27, 2019.
The list of amended and supplemented administrative procedures, which are under the SBV’s jurisdiction related to the establishment and operations of banks, includes the administrative procedures that are performed either at the central SBV level, or at the SBV provincial and municipal branches’ level.
Specifically, the amended and supplemented administrative procedures that are performed at the central SBV level include: the procedures for requesting a re-issuance of a license, or a supplementation of an additional operation in the license of a commercial bank or a foreign bank branch, which are subjects to the micro-safety supervision by the Banking Supervision Agency.
The amended and supplemented administrative procedures that are performed at the SBV provincial and municipal branches’ level include: (i) the procedures for requesting a re-issuance of a license, or a supplementation of an additional operation in the License of a foreign bank branch whose head office is located at that particular province/city, which are subjects to the micro-safety supervision by the SBV provincial and municipal branches; (ii) The procedures for an amendment or a supplementation in the License of a representative office.
This Decision took effect from the date of signing.
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