What are regulations on authority to decide to award emulative titles and rewarding forms in banking-sector in Vietnam?

1. What are regulations on authority to decide to award emulative titles and rewarding forms in banking-sector in Vietnam?

Pursuant to Article 23 of Circular 17/2019/TT-NHNN stipulating authority to decide to award emulative titles and rewarding forms as follows:

1. SBV’s Governor shall be vested with authority to confer:

a) The title of "Winner of Progressive Labor Title" and “Winner of Grassroots-level Honourable Title” upon comrades participating in the SBV’s Governing Board;

b) The title of “Winner of Banking-sector Honourable Title”;

c) The title of “SBV’s Honourable Flag”;

c) Certificates of merit upon teams and individuals;

dd) The title of “Excellent Labor Team”;

e) Commemorative medals upon individuals.

2. Directors of SBV’s branches at cities, provinces, heads of SBV’s public service affiliates shall be accorded authority to decide to confer the title of “Progressive Labor Team” upon teams; the title of "Winner of Progressive Labor Title", "Winner of Grassroots-level Honourable Title" upon individuals under their jurisdiction, and certificates of appreciation.

3. Inspector General of the Banking Inspection and Supervision Agency shall be vested with authority to confer the title of “Progressive Labor Team” upon teams; the title of "Winner of Progressive Labor Title", "Winner of Grassroots-level Honourable Title" upon individuals under their jurisdiction, and certificates of appreciation.

4. Heads of units specified in point a of clauses 2, 3, 4 and 5 of Article 3 herein shall be vested with authority to confer the title of “Progressive Labor Team” upon teams; the title of "Winner of Progressive Labor Title", "Winner of Grassroots-level Honourable Title" upon individuals under their jurisdiction and certificates of appreciation.

5. SBV’s Governor may authorize Heads of:

a) Departments, Administrations, Authorities, units or standing entities of Party organizations and associations at SBV's headquarter to decide to confer the title of "Progressive Labor Team" upon teams; the title of "Winner of Progressive Labor Title" and "Winner of Grassroots-level Honourable Title" upon individuals under their jurisdiction.

b) SBV’s branches in cities or provinces and Bank Supervision and Inspection Agency to decide to confer the title of “Excellent Labor Team” upon small teams under their jurisdiction;

c) Governance Department, Issue and Vault Department and Information Technology Department to decide to confer the title of “Excellent Labor Team” upon small teams under the control of Subdepartments;

d) Credit institutions (except microfinance institutions), foreign bank branches and Deposit Insurance of Vietnam to confer the title of "Excellent Labor Team" upon nominated units.

dd) Participating units specified in point a of clause 2, 3, 4 and 5 of Article 3 herein to decide to confer the title of “Excellent Labor Team” upon teams under their control;

e) SBV’s branches in cities or provinces to decide to confer the title of “Excellent Labor Team” upon microfinance institutions within their remit;

2. What is authority to recognize innovations in banking-sector in Vietnam?

According to Article 24 of Circular 17/2019/TT-NHNN, authority to recognize innovations is as follows:

1. Banking-sector Innovation Board shall be authorized to evaluate efficiency and influence of innovations at the banking sector or national level. Based on the evaluation result obtained from the Board, the SBV’s Governor may authorize the Head of the Emulation, Commendation and Rewarding Department to decide to recognize these innovations.

2. Banking-sector Innovation Board may be authorized to evaluate efficiency and influence of grassroots-level innovations. Based on the evaluation results obtained from the Board, the Heads of grassroots-level units may be authorized to recognize these innovations.

3. What are regulations on award ceremony of rewards in banking-sector in Vietnam?

Article 25 of Circular 17/2019/TT-NHNN stipulates award ceremony as follows:

1. The ceremony of award of Orders, Medals, State Honourable Titles, “Ho Chi Minh Prize”, “State Prize”, “Government’s Honourable Flag”, “Winner of National Honourable Title” and “Prime Minister’s Certificate of Merit” shall be subject to regulations laid down in the Government’s Decree No. 145/2013/ND-CP dated October 29, 2013, regulating organization of ceremonial days; ceremonies of award and welcoming of emulative commendations, rewards and titles; protocols for external relation, welcoming and reception of foreign guests.

2. With respect to Orders, Medals, State Honourable Titles, “Ho Chi Minh Prize”, “State Prize” and “Winner of National Honourable Title”, upon receipt of notices from the Department of Emulation, Commendation and rewarding, Heads of participating units shall draw up plans to hold ceremonies to celebrate receipt of these awards and submit them to the SBV’s Governor (via Department of Emulation, Commendation and Rewarding). After receipt of directives from the SBV’s Governor, the Department of Emulation, Commendation and Rewarding shall be responsible for cooperating with participating units to organize meetings to publicize and confer awards.

3. With respect to the title of “Government’s Honourable Flag” and “Prime Minister’s Certificate of Merit”, after being notified in written by the Department of Emulation, Commendation and Rewarding, Heads of units shall, on their own initiative, draw up plans and organize meetings to award these titles to teams and individuals under the control of nominated units. Before doing so, these organizer units shall have to inform the Department of Emulation, Commendation and Rewarding for its supervision.

4. Before organizing ceremonies to announce and grant commendations or rewards at the state level to teams and individuals at the SBV’s headquarter, the Department of Emulation, Commendation and Rewarding shall have to consult with the SBV’s Governor and submit the organization plan to seek his/her approval decision.

5. As for emulative titles and awards under the Governor’s jurisdiction, he/she may authorize Heads of units to organize ceremonies to announce and award titles to nominated teams and individuals.

Heads of units in collaboration with the Department of Emulation, Commendation and Rewarding shall submit the plan to announce and grant the title of “Governor’s Certificate of Merit” and Commemorative Medals to non-banking teams and individuals to the SBV’s Governor to seek his/her approval decision.

6. As being deemed as the occasion of honoring people with good work and progressive examples, ceremonies on announcement and conferment of emulative titles and awards must be held in a formal, effective, economical, unboastful, non-formalistic and extravagant manner. Each ceremony must be held in combination with other activities for less time and cost consumption purposes.

Best Regards!