What are the procedures for issuance of Deposit Insurance Participation Certificates in Vietnam? What is the application for issuance of Deposit Insurance Participation Certificates?
- What is the application for issuance of Deposit Insurance Participation Certificates for organizations participating in deposit insurance in Vietnam?
- What are the procedures for issuance of Deposit Insurance Participation Certificates in Vietnam?
- What are cases for revocation of Deposit Insurance Participation Certificates in Vietnam?
What is the application for issuance of Deposit Insurance Participation Certificates for organizations participating in deposit insurance in Vietnam?
Pursuant to the provisions of Article 4 of the Regulation on the Issuance and Revocation of Deposit Insurance Participation Certificates issued together with Decision 408/QD-BHTG-HDQT 2016, the application for issuance of Deposit Insurance Participation Certificates are as follows:
Application for issuance of the Deposit Insurance Participation Certificate
Application for issuance of the Deposit Insurance Participation Certificate for organizations participating in deposit insurance includes:
1. Application form for deposit insurance participation according to the attached Form 01 of this Regulation;
2. Certified copy of the License of Establishment and Operation of the credit institution or the License of Establishment of a foreign bank branch;
3. Certified copy of the Business Registration Certificate or the Certificate of Enterprise Registration of the participating organization in deposit insurance.
Therefore, according to the regulations, the application for issuance of the Deposit Insurance Participation Certificate for organizations participating in deposit insurance include:
(1) Application form for deposit insurance participation
(2) Certified copy of the License of Establishment and Operation of the credit institution or the License of Establishment of a foreign bank branch;
(3) Certified copy of the Business Registration Certificate or the Certificate of Enterprise Registration of the participating organization in deposit insurance.
What are the procedures for issuance of Deposit Insurance Participation Certificates in Vietnam? What is the application for issuance of Deposit Insurance Participation Certificates?
What are the procedures for issuance of Deposit Insurance Participation Certificates in Vietnam?
Pursuant to Article 5 of the Regulation on the Issuance and Revocation of Deposit Insurance Participation Certificates issued together with Decision 408/QD-BHTG-HDQT 2016,
Process and procedures for issuance of Deposit Insurance Participation Certificates
1. At least 15 (fifteen) days before the commencement of operations, the participating organization in deposit insurance must submit a complete application for a Deposit Insurance Participation Certificate as required in Article 4 of this Regulation. The application must be submitted directly or by post to the head office of the Vietnam Deposit Insurance or its branches according to the delegated authority for managing participating organizations in deposit insurance (hereinafter referred to as the delegated management of participating organizations in deposit insurance).
2. In case the documentation is incomplete or invalid, the Vietnam Deposit Insurance will send a written notice to the participating organization in deposit insurance requesting supplementary or corrected documents.
3. Within 05 (five) working days from the date of receiving a complete and valid application for a Deposit Insurance Participation Certificate, the Vietnam Deposit Insurance will issue a Decision to grant the Deposit Insurance Participation Certificate to the participating organization in deposit insurance.
4. After the official commencement of operations, the participating organization in deposit insurance will send a written confirmation of the actual commencement date of operations to the Vietnam Deposit Insurance.
Therefore, the procedures for issuing a Deposit Insurance Participation Certificate are as follows:
Step 1: Submit an application for a Deposit Insurance Participation Certificate
Implementation method:
Submit the application directly or by post to the head office of the Vietnam Deposit Insurance or its branches according to the delegated authority for managing participating organizations in deposit insurance.
Step 2: Issue a Decision to grant the Deposit Insurance Participation Certificate
Within 05 (five) working days from the date of receiving a complete and valid application for a Deposit Insurance Participation Certificate, the Vietnam Deposit Insurance will issue a Decision to grant the Deposit Insurance Participation Certificate to the participating organization in deposit insurance.
Step 3:
After the official commencement of operations, the participating organization in deposit insurance will send a written confirmation of the actual commencement date of operations to the Vietnam Deposit Insurance.
What are cases for revocation of Deposit Insurance Participation Certificates in Vietnam?
Pursuant to Article 6 of the Regulation on the Issuance and Revocation of Deposit Insurance Participation Certificates issued together with Decision 408/QD-BHTG-HDQT 2016, the cases for revocation of Deposit Insurance Participation Certificates are as follows:
Cases for revocation of Deposit Insurance Participation Certificates:
1. The Vietnam Deposit Insurance temporarily revokes the Deposit Insurance Participation Certificate granted to the participating organization in deposit insurance in the case where the State Bank of Vietnam has a written decision to temporarily suspend the acceptance of deposits by the participating organization in deposit insurance in accordance with the law.
2. The Vietnam Deposit Insurance revokes the Deposit Insurance Participation Certificate granted to the participating organization in deposit insurance in the case where the State Bank of Vietnam has a written decision to revoke the establishment and operation license of the credit institution or the establishment license of the foreign bank branch in accordance with the law.
Therefore, the Vietnam Deposit Insurance revokes the Deposit Insurance Participation Certificate for the mentioned cases.
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