Vietnam: Decision No. 658/QD-NHNN announcing 08 administrative procedures in the banking sector in which a paper household registration book is not required?
- 08 administrative procedures in the banking sector in which a paper household registration book is not required?
- What are the regulations on the licensing procedure for converting a microfinance program or project?
- What conditions must the owner of a microfinance institution established in the form of a single member limited liability company ensure?
08 administrative procedures in the banking sector in which a paper household registration book is not required?
Recently, on April 14, 2023, the State Bank of Vietnam announced Decision No. 658/QD-NHNN in 2023, administrative procedures within the scope of management functions of the State Bank of Vietnam do not require submission or presentation of paper household registration books, paper temporary residence book to confirm the composition of administrative procedures.
The State Bank of Vietnam announces 08 administrative procedures in the banking sector that do not require submission or presentation of household registration books or paper temporary residence books to certify the composition of the following administrative procedures:
- Procedures for licensing in case of conversion of microfinance programs and projects.
- Procedures for granting a license to a microfinance institution that is a limited liability company with two or more members.
- Procedures for granting a license to a microfinance institution that is a single member limited liability company.
- Procedures for applying for a license for the establishment and operation of a joint-stock commercial bank.
- Procedures for granting a license for the establishment and operation of a limited liability non-banking credit institution.
- Procedures for granting a license for establishment and operation of a joint-stock non-bank credit institution.
- Procedures for applying for a license to establish and operate a joint-venture bank, a bank with 100% foreign capital.
- Procedures for issuance of licenses for establishment and operation of people's credit funds.
In which, the certification of the curriculum vitae of organizations and individuals in the application for an operation license in the above procedures is done on the basis of data mining of citizens' residence on the Internet. National population database or check VNeID application according to the guidance of the Ministry of Public Security, do not require organizations and individuals to submit or present paper household registration books and temporary residence books in accordance with Article 14 of Decree No. 104/2022/ND-CP.
Vietnam: Decision No. 658/QD-NHNN announcing 08 administrative procedures in the banking sector in which a paper household registration book is not required?
What are the regulations on the licensing procedure for converting a microfinance program or project?
Pursuant to Section 1, Part II, Administrative procedures promulgated together with Decision No. 658/QD-NHNN in 2023, guiding the order of issuance of a License in case of conversion of a microfinance program or project as follows:
Step 1: The organization transforming microfinance programs and projects shall make 01 (one) set of dossiers of application for a license and send it to the State Bank.
Step 2: Within 10 (ten) days from the date of receipt of the application file for a License, the State Bank shall send a written notice to the organization converting the microfinance program or project to certify that it has fully received the license. Valid documents; In case the dossier is incomplete, the State Bank shall make a written request for supplementation and completion.
Step 3. Within 05 (five) working days from the date of receiving a written confirmation of complete and valid dossiers, the State Bank shall send a written request to collect opinions of:
- The People's Committee of the province or city directly under the Central Government where the organization of transformation of a microfinance program or project is expected to have its head office, regarding the transformation into a microfinance institution;
- The People's Committee of the province or city directly under the Central Government where the organization of transformation of the microfinance program or project is implementing the microfinance program or project on the operational efficiency of the program or project microfinance for local development;
- The branch of the State Bank where the organization of transformation of the microfinance program or project is expected to locate its head office on the establishment of the microfinance institution, the list of personnel expected to be elected or appointed as a member; members of the Members' Council, members of the Control Board, the General Director (Director) of the microfinance institution (if necessary);
- The branch of the State Bank where the microfinance program or project is proposed to be converted has affiliated units that are operating in terms of meeting regulations on operating network;
- Ministry of Foreign Affairs, Ministry of Public Security on participation in capital contribution to establish microfinance institutions of foreign banks.
Step 4: Within 15 (fifteen) days from the date of receiving the written request of the State Bank, the units that are consulted shall have written opinions.
Step 5: Within 80 (eighty) days from the date of receipt of complete and valid dossiers, the State Bank shall grant the License; approve the list of personnel expected to be elected or appointed as a member of the Members' Council, member of the Supervisory Board, the General Director (Director); approval of the operating network (in case the regulations on the network of microfinance institutions are met); in case of refusal to grant the License, the State Bank of Vietnam shall send a written explanation clearly stating the reason.
What conditions must the owner of a microfinance institution established in the form of a single member limited liability company ensure?
According to the guidance in Section 1, Part II of Administrative Procedures issued together with Decision No. 658/QD-NHNN in 2023, the owner of a microfinance institution established in the form of a single member limited liability company Members must meet the following conditions:
- Being a political organization, socio-political organization legally established and operating in Vietnam or a political organization, socio-political organization, association, social fund, charity fund with a program Microfinance programs and projects are converted in accordance with the Prime Minister's Decision on the operation of microfinance programs and projects of political organizations, socio-political organizations and organizations, non-governmental organizations;
- Having the financial capacity to contribute capital to establish a microfinance institution and committing not to use entrusted capital, mobilized capital or borrowed capital from other organizations and individuals to contribute capital; commit to support microfinance institutions financially to solve difficulties in case of difficulties in capital or liquidity;
- Not being a founding shareholder, owner, founding member or strategic shareholder of another credit institution in Vietnam.
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