If I used to be owner of private business that was declared bankrupt, can I be a director of commercial bank in Vietnam?

If I used to be owner of private business that was declared bankrupt, can I be a director of commercial bank in Vietnam?

In Clause 1, Article 33 of the Law on Credit Institutions 2010, cases banned from holding posts:

1. The following persons may not be members of the Board of Directors, Members' Council and Control Board, Director General (Director). Deputy Director General (Deputy Director) and holders of equivalent titles of a credit institution:

a/ Those defined in Clause 2 of this Article;

b/ Those banned from acting as managers and executives under the laws on cadres and civil servants and corruption prevention and control;

c/ Those who used to be owners of private enterprises, partners of partnerships, Directors General (Directors), members of Boards of Directors, Members' Councils and Control Board of enterprises, chairmen and members of cooperative management boards at the time enterprises or cooperatives are declared bankrupt, except cases of bankruptcy in force majeure circumstances;

d/ Those who used to be representatives-at-law of enterprises at the time these enterprises are suspended from operation or compelled to dissolve due to their serious violations of law, except cases in which the representatives-at-law are recommended by competent state agencies to reorganize and consolidate those enterprises;

e/ Those who were once suspended from holding the title of chairman of the Board of Directors, member of the Board of Directors, chairman of the Members' Council, member of the Members' Council, head of the Control Board, member of the Control Board or Director General (Director) of a credit institution under Article 37 of this Law or determined by a competent agency as having committed violations leading to the revocation of the credit institution's license;

f/ Affiliated persons of members of the Board of Directors or Members' Council or Director General (Director) may not act as members of the Control Board of the same credit institution;

g/ Related persons of the chairman of the Board of Directors or Members' Council may not act as Director General (Director) of the same credit institution.

Clause 1, Clause 3, Article 4 of the Law on Credit Institutions 2010 provides as follows:

1. Credit institution means an enterprise conducting one. some or all banking operations. Credit institutions include banks, non-bank credit institutions, microfinance institutions and people's credit funds.

3. Commercial bank means a type of bank which may conduct all banking operations and other business activities under this Law for profit.

Thus, according to current regulations in Vietnam, a person who was an owner of private business declared bankrupt will not be allowed to act as a director of a commercial bank.

Can cadres at district police stations be directors of commercial bank branches in Vietnam?

At Point e, Clause 2, Article 33 of the Law on Credit Institutions 2010, the following persons may not act as chief accountant or director of a branch or subsidiary of a credit institution:

e/ Cadres and civil servants and managers of division or higher level of enterprises in which the State holds 50% or more of the charter capital, except those appointed to represent the State's capital share in the credit institution;

According to this Article, cadres working in district police are not allowed to act as commercial bank branch directors in Vietnam.

Best Regards!