On June 17th, 2019, the State Bank of Vietnam (SBV) issued Decision No. 1284/QD-NHNN on the implementation of Circular No. 41/2016/TT-NHNN of the Maritime Commercial Joint Stock Bank (MSB).
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Accordingly, MSB shall implement Circular No. 41/2016/TT-NHNN issued on December 30th, 2016 by the SBV Governor stipulating the capital adequacy ratios for the commercial banks and the foreign banks’ branches (hereinafter referred to as Circular 41) starting from July 1st, 2019.
MSB is responsible for issuing internal regulations before June 30, 2019 to ensure the compliance with Circular No. 18/2018/TT-NHNN dated August 21, 2018 stipulating the safety of banking information systems; implementing internal audits for 2019 as scheduled; complying with Circular 41 and the reporting mechanisms on the capital adequacy ratio statistics in line with Circular 41 under the guidance of the SBV.
Decision No. 1284/QD-NHNN took effect from the date of signing.
Le Hang