New Requirements for Personnel at Postal Transaction Offices Under Lien Viet Commercial Joint Stock Bank
What are the new requirements for personnel at post office transaction offices under Lien Viet Commercial Joint Stock Bank?
Based on the provisions at Article 8 of Circular 43/2015/TT-NHNN as amended and supplemented by Clause 4 Article 1, Clause 3 Article 2 of Circular 11/2023/TT-NHNN, the requirements are as follows:
Requirements for Post Office Transaction Offices
1. Personnel at post office transaction offices must meet the following requirements:
a) There must be at least 03 people, including 01 person who is a controller or an equivalent position responsible for controlling and approving daily transactions and is an employee of Lien Viet Commercial Joint Stock Bank. By March 01, 2024, if this condition is not met, the post office transaction office will not be allowed to accept savings deposits. The handling of savings deposits previously received will be carried out in accordance with Clause 4 Article 7 of this Circular;
b) They must have participated in relevant professional training courses organized by Lien Viet Commercial Joint Stock Bank (except for officials who have graduated from intermediate level or higher in finance, banking);
c) Personnel holding the position of controller (or equivalent position) must have graduated from intermediate level or higher in economics, finance, banking.
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Therefore, based on the above regulations, personnel at post office transaction offices under Lien Viet Commercial Joint Stock Bank must meet the following requirements:
- There must be at least 03 people, including 01 controller or an equivalent position responsible for controlling and approving daily transactions and must be an employee of Lien Viet Commercial Joint Stock Bank.
- They must have participated in relevant professional training courses organized by Lien Viet Commercial Joint Stock Bank (except for officials who have graduated from intermediate level or higher in finance, banking);
- Personnel holding the position of controller (or equivalent position) must have graduated from intermediate level or higher in economics, finance, banking.
What are the new requirements for personnel at post office transaction offices under Lien Viet Commercial Joint Stock Bank? (Image from the internet)
Is it true that post office transaction offices cannot accept savings deposits when VNPost divests from LPBank?
Based on Clause 3 Article 1 of Circular 11/2023/TT-NHNN amending and supplementing Clauses 3 and 4 of Article 7 of Circular 43/2015/TT, the regulations are as follows:
Organization and operation content of post office transaction offices
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3. After 07 working days from the date Vietnam Post Corporation (VNPost) reduces its capital to below 5% of the charter capital of Lien Viet Commercial Joint Stock Bank, the post office transaction office must not accept savings deposits.
4. The handling of savings deposits previously received by the post office transaction office when it no longer accepts savings deposits shall be carried out as follows:
a) For savings deposits that have not yet matured, the post office transaction office will continue to perform according to the agreed terms with customers;
b) For savings deposits that have matured, the post office transaction office must have measures to fully pay out the savings deposits to customers. If it cannot fully pay the matured savings deposits, Lien Viet Commercial Joint Stock Bank (LPBank) will take over and handle in accordance with its internal regulations and the law on savings deposits, and terminate the operation of the post office transaction office.
Therefore, based on the above regulations, 07 days after VNPost reduces its capital to below 5% of the charter capital of Lien Viet Commercial Joint Stock Bank (LPBank), the post office transaction office is not allowed to accept savings deposits.
The handling of previously received savings deposits by the post office transaction office when it no longer accepts savings deposits shall be carried out as follows:
- For savings deposits that have not yet matured, the post office transaction office will continue to follow the agreed terms with customers;
- For savings deposits that have matured, the post office transaction office must take measures to fully pay out the savings deposits to customers. If it cannot fully pay the matured savings deposits, Lien Viet Commercial Joint Stock Bank (LPBank) will take over and handle according to its internal regulations, the law on savings deposits, and terminate the operation of the post office transaction office.
What authority does the Director of the State Bank Branch where the post office transaction office is located have?
Based on Clause 1 Article 1 of Circular 11/2023/TT-NHNN amending and supplementing Article 4 of Circular 43/2015/TT-NHNN, the authority of the Director of the State Bank Branch where the post office transaction office is located is regulated as follows:
- Approve or disapprove the termination of the post office transaction office's operations in the locality.
- Confirm the eligibility for operation at a new location for post office transaction offices that change locations within the locality.
- Compulsorily terminate the operations of the post office transaction office in the locality.
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