What are regulations on autonomy in operation of credit institutions in Vietnam?
What are regulations on autonomy in operation of credit institutions in Vietnam? What are regulations on the right to conduct banking operations of credit institutions in Vietnam? What are regulations on provision of information of credit institutions in Vietnam?
What are regulations on autonomy in operation of credit institutions in Vietnam?
My name is Trong Dai. I'm living and working in Binh Duong. I have a question. What are regulations on autonomy in operation of credit institutions in Vietnam? Which legal document stipulates this issue? Thank you!
Answer:
Pursuant to Article 7 of the Law on Credit Institutions in 2010 stipulating autonomy in operation of credit institutions in Vietnam as follows:
- Credit institutions and foreign bank branches have autonomy in their business activities and take accountability for their business results. No organizations or individuals may illegally intervene in business activities of credit institutions and foreign bank branches.
- Credit institutions and foreign bank branches may refuse to extend credit or provide other services when finding that they do not fully meet the conditions to do so or such credit extension or service provision is inefficient or incompliant with law.
Please refer to the Law on Credit Institutions in 2010 for further information.
What are regulations on the right to conduct banking operations of credit institutions in Vietnam?
My name is Trong Toan. I'm living and working in Binh Duong. I have a question. What are regulations on the right to conduct banking operations of credit institutions in Vietnam? Which legal document stipulates this issue? Thank you!
Answer:
Pursuant to Article 8 of the Law on Credit Institutions in 2010 stipulating the right to conduct banking operations of credit institutions in Vietnam as follows:
- Organizations that fully meet the conditions under this Law and other relevant laws and are licensed by the State Bank may conduct one or some banking operations in Vietnam.
- Individuals and organizations other than credit institutions are prohibited from conducting banking operations, except escrow, purchase and sale of securities by securities companies.
Please refer to the Law on Credit Institutions in 2010 for further information.
What are regulations on provision of information of credit institutions in Vietnam?
I have a question. What are regulations on provision of information of credit institutions in Vietnam? Which legal document stipulates this issue? Thank you!
Answer:
Pursuant to Article 13 of the Law on Credit Institutions in 2010 stipulating provision of information of credit institutions in Vietnam as follows:
- Credit institutions and foreign bank branches shall provide account holders with information on transactions and credit balances of their accounts as agreed upon with these holders.
- Credit institutions and foreign bank branches shall provide the State Bank with information related to their business activities and may receive from the State Bank information on clients having credit relations with them under the State Bank's regulations.
- Credit institutions and foreign bank branches may exchange with one another information on their activities.
Please refer to the Law on Credit Institutions in 2010 for further information.
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