Press Release on issuance of Circular No.08/2015/TT-NHNN
In order to facilitate for commercial banks and foreign bank branches to operate effectively in line with Law on Credit Institutions, the Governor of the State Bank of Vietnam (SBV) issued Circular No. 08/2015/TT-NHNN on June 30 to revise several articles of Circular No.40/2011/TT-NHNN dated December 15, 2011 on licensing, organization and operations of commercial banks, foreign bank branches, representative offices of foreign credit institutions and other foreign organizations with banking operations in Vietnam.
Circular No.08/2015/TT-NHNN includes 4 Articles, of which supplementing regulations on procedures and dossiers for each situation: (i) renewing license, (ii) adding operations, (iii) granting licenses, adding operations and renewing licenses.
Circular No. 08/2015/TT-NHNN replaced the License forms of commercial banks, foreign bank branches, representative offices of foreign credit institutions and other foreign organizations with banking operations as stipulated in Circular No.40/2011/TT-NHNN.
This Circular will take effect from August 13, 2015.
Translated by TLH