The Governor of the State Bank of Vietnam (SBV) issued Decision No. 1548/QĐ-NHNN on August 5 to publicize new administrative procedures in place of the abolished administrative procedure under its jurisdiction.
Accordingly, the SBV officially publicizes three newly issued administrative procedures in the field of establishment and operations of credit institutions, including (i) procedure applicable to commercial banks and foreign bank branches requesting renewing license; (ii) procedure applicable to commercial banks and foreign bank branches requesting additional operations; (iii) procedure applicable to commercial banks and foreign bank branches requesting renewing license and additional operations. Three newly issued administrative procedures are formulated as stipulated in Circular No. 08/2015/TT-NHNN dated June 30, 2015 on revising several articles of Circular No. 40/2011/TT-NHNN dated December 15, 2011 on granting license and operational structure of commercial banks, foreign bank branches and representative offices of foreign credit institutions and other foreign institutions with banking operations in Vietnam.
At the same time, the SBV announces the replaced administrative procedures of revising, providing additional operations and scope of operations of foreign branches, joint-venture banks and wholly foreign owned banks.
DH