Procedures for approval for provisional lists of personnel of foreign credit institutions in Vietnam
What are regulations on procedures for approval for provisional lists of personnel of foreign credit institutions in Vietnam? Please get back to me.
Procedures for approval for provisional lists of personnel of foreign credit institutions in Vietnam (Image from the Internet)
According to Clause 8, Article 2, Circular 13/2019/TT-NHNN (Effective from October 5, 2019) stipulating procedures for approval for provisional lists of personnel of foreign credit institutions:
1. The credit institution or foreign bank’s branch shall prepare and submit an application as prescribed in Article 6 or Article 7 of this Circular to the State Bank if it is subject to Clause 1 Article 4 of this Circular or to the State Bank's branch if it is subject to Clause 2 Article 4 of this Circular. If the application is unsatisfactory, within 07 working days from the receipt of the application, the State Bank (via the Banking Supervision Agency) or the State Bank’s branch shall request the credit institution or foreign bank’s branch in writing to complete it.
2. The credit institution or foreign bank’s branch shall complete the application at the request of the State Bank (via the Banking Supervision Agency) or the State Bank’s branch within a maximum period of 45 working days from the date on which additional documents are requested in writing by the State Bank (via the Banking Supervision Agency) or the State Bank’s branch. After the aforementioned time limit, the credit institution or foreign bank’s branch shall re-submit an application as prescribed in this Circular to the State Bank or State Bank’s branch for consideration.
3. Within 30 working days from the receipt of satisfactory application prescribed in Articles 6 and 7 of this Circular, the State Bank or State Bank’s branch shall send a written approval or written rejection of the provisional list of the credit institution or foreign bank’s branch.
In case of rejection, a written explanation shall be provided for the credit institution or foreign bank’s branch.
Above are the regulations on procedures for approval for provisional lists of personnel of foreign credit institutions.
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