Vietnam: What is the newest electronic notification form for cancellation of banking codes under Circular 18? Where to download the electronic notification form?
What is the newest electronic notification form for cancellation of banking codes in Vietnam under Circular 18? Where to download the electronic notification form?
The newest electronic notification form for cancellation of banking codes in Vietnam is Form No. 06 issued with Circular 18/2023/TT-NHNN.
Download the newest electronic notification form for cancellation of banking codes in Vietnam here
What are the procedures for cancellation of banking codes in Vietnam?
Under Clause 6, Article 1 of Circular 18/2023/TT-NHNN amending and supplementing Article 10 of Circular 17/2015/TT-NHNN, the procedures for cancellation of banking codes in Vietnam shall be carried out as follows:
- In respect of entities affiliated to SBV, within 10 working days from the date on which these entities cease to operate, Organization and Personnel Department shall send request for cancellation of banking code in accordance with Appendix 2 attached to Circular 18/2023/TT-NHNN Information Technology Department via Document Management and Coordination system of the SBV.
- In respect of credit institutions (other than people’s credit funds) and FBBs, within 10 working days from the date on which credit institutions or FBBs issue Decision on dissolution, bankruptcy, or termination, Bank Supervision and Inspection Agency shall send request for cancellation of banking code in accordance with Appendix 2 attached to Circular 18/2023/TT-NHNN to Information Technology Department via Document Management and Coordination system of the SBV.
- In respect of credit institutions that are consolidated or acquired, within 10 working days from the date on which decision on consolidation or acquisition is issued, acquiring credit institutions and consolidated credit institutions shall submit request for cancellation of banking code in respect of acquired credit institutions and consolidating credit institutions in accordance with Appendix 2 of Circular 17/2015/TT-NHNN via Public Service Portal of SBV.
- In respect of dependent entities and wholly foreign-owned banks of credit institutions (other than people's credit funds), within 10 working days from the date on which decision on termination of operation or written approval for establishment of dependent entities or wholly foreign-owned banks of SBV expires or when professional operations or electronic data exchange via SBV is no longer needed, credit institutions shall produce request for cancellation of banking code on Public Service Portal of SBV in accordance with Appendix 2 attached to Circular 18/2023/TT-NHNN.
- In respect of people’s credit funds, within 10 working days from the date on which Decision on dissolution, bankruptcy is issued, SBV branches of provinces and central-affiliated cities where people’s credit funds are headquartered shall produce request for cancellation of banking code on Public Service Portal of SBV in accordance with Appendix 2 attached to Circular 18/2023/TT-NHNN.
- In respect of State Treasury of all levels, within 10 working days from the date on which Decision on termination of operation is issued or when professional operation, electronic data exchange via SBV is no longer needed, the Central State Treasury shall produce request for cancellation of banking code on Public Service Portal of SBV in accordance with Appendix 2 attached to Circular 18/2023/TT-NHNN.
- In respect of other organizations reporting and/or engaging in electronic data exchange relating to SBV and requesting cancellation of banking code, these entities shall produce request for cancellation of banking code on Public Service Portal of SBV in accordance with Appendix 2 attached to Circular 18/2023/TT-NHNN.
- Upon receiving request for cancellation of banking code, Information Technology Department shall examine the contents, cooperate with entities of SBV or access National Database on enterprise registration in order to cross-examine documents. Within 3 working days from the date on which adequate written request is received, Information Technology Department shall cancel banking code, send results to applicants, and issue electronic notification regarding cancellation of banking code on Public Service Portal of SBV in accordance with Appendix 6 attached to Circular 18/2023/TT-NHNN;
In respect of rejection, Information Technology Department shall state reason for rejection via means which the applicants send the request.
What is the structure of a banking code in Vietnam?
Under the provisions of Article 7 of Circular 17/2015/TT-NHNN stipulating the structure of a banking code in Vietnam:
The structure of a banking code in Vietnam consists of 8 characters and is divided into 3 groups as follows:
- Group 1: consists of the first 2 characters on the left, which is the code symbol of the province or centrally-run city or the code used generally in case of issuance of codes to overseas branches of credit institutions.
- Group 2: consists of the next 3 characters group 1, which is the system code symbol of the organization to which the banking code is issued.
- Group 3: consists of the last 3 characters, which are the unit numbers of each system in each province, centrally run city or foreign country.
Circular 18/2023/TT-NHNN will take effect from July 1, 2024.
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