What is the composition of the Innovation Board regarding emulation, commendation and rewarding activities in the banking sector in Vietnam?

What is the composition of the Innovation Board regarding emulation, commendation and rewarding activities in the banking sector in Vietnam?

Pursuant to Article 43 of the Circular 17/2019/TT-NHNN stipulating the composition of the Innovation Board regarding emulation, commendation and rewarding activities in the banking sector in Vietnam as follows:

1. Chair: Deputy Governor in charge of emulation, commendation and rewarding activities in the banking sector.

2. Standing Vice Chair: Director of the Emulation, Commendation and Rewarding Department.

3. Members and Secretary shall be recommended by the Department of Emulation, Commendation and Rewarding and then decided by the Governor.

What is the composition of the Innovation Boards of units regarding emulation, commendation and rewarding activities in the banking sector in Vietnam?

Pursuant to Article 44 of the Circular 17/2019/TT-NHNN stipulating the composition of the Innovation Boards of units regarding emulation, commendation and rewarding activities in the banking sector in Vietnam as follows:

1. Chair: Head of a unit.

2. Vice Chair: Vice Head of a unit.

3. Members and Secretary shall be subject to decision of the Head of a unit.

What are regulations on work rules, duties and authority of the Emulation, Commendation and Rewarding Board and Innovation Board in Vietnam?

Pursuant to Article 45 of the Circular 17/2019/TT-NHNN stipulating work rules, duties and authority of the Emulation, Commendation and Rewarding Board and Innovation Board in Vietnam as follows:

1. Detailed work rules, duties and authority of the Emulation, Commendation and Rewarding Board and Innovation Board in the entire banking sector shall be subject to work regulations imposed by the Governor.

2. Detailed work rules, duties and authority of the Emulation, Commendation and Rewarding Boards and Innovation Boards at units shall be subject to work regulations imposed by the Governor.

What are regulations on management of documentation regarding emulation, commendation and rewarding activities in the banking sector in Vietnam?

Pursuant to Article 46 of the Circular 17/2019/TT-NHNN stipulating management of documentation regarding emulation, commendation and rewarding activities in the banking sector in Vietnam as follows:

1. Department of Emulation, Commendation and Rewarding shall be responsible for managing application documentation or other materials related to emulative titles, commendations and rewards under the authority of the Governor or higher-level officeholders.

2. Units shall be responsible for managing and safekeeping documentation relating emulation, commendation or rewarding activities in accordance with regulations in force.

What are regulations on notification of commendation and rewarding results in the banking sector in Vietnam?

Pursuant to Article 47 of the Circular 17/2019/TT-NHNN stipulating notification of commendation and rewarding results in the banking sector in Vietnam as follows:

Each year, Department of Emulation, Commendation and Rewarding shall be responsible for informing results of processing of application documentation to requesting units.

What are regulations on reporting of emulation, commendation and rewarding activities in the banking sector in Vietnam?

Pursuant to Article 48 of the Circular 17/2019/TT-NHNN stipulating reporting of emulation, commendation and rewarding activities in the banking sector in Vietnam as follows:

1. By end of an operating year, units shall prepare written review and assessment reports on emulation, commendation and rewarding activities for submission to SBV (via Department of Emulation, Commendation and Rewarding) by the deadline which falls on February 15 of the following year. Banking Academy and Banking University of Ho Chi Minh city shall have to submit these reports by August 15 each year. The full texts of these reports shall be made by using the sample No. 29 hereto attached.

2. When launching an emulation campaign, a unit must be responsible for announcing the launch of such campaign and sending review reports after completion of such campaign to the SBV (via Department of Emulation, Commendation and Rewarding) for supervisory purposes and for use as a basis for consideration of commendations or rewards.

3. Microfinance institutions shall launch their emulation campaigns and prepare review reports on emulation, commendation and rewarding activities for submission to SBV branches in cities or provinces under their remit, and send a synthesis report to SBV (via Department of Emulation, Commendation and Rewarding).

What are responsibilities of units regarding emulation, commendation and rewarding activities in the banking sector in Vietnam?

Pursuant to Article 49 of the Circular 17/2019/TT-NHNN stipulating responsibilities of units regarding emulation, commendation and rewarding activities in the banking sector in Vietnam as follows:

1. Department of Emulation, Commendation and Rewarding shall be responsible for recommending the Governor to issue decisions on:

a) Maximum ratio of bad debts used as a basis for considering grant of commendations and rewards to credit institutions, branches of credit institutions, foreign bank branches, individuals holding posts as managers or leaders of credit institutions, and Directors General (Directors) of foreign bank branches;

b) Quantity of Honourable Flags specific to emulative Clusters and Groups and units;

c) Ratio of "Excellent Labor Team” title conferred upon units.

2. Bank Supervision and Inspection Agency shall be responsible for providing information necessary for consideration of commendation and rewarding by using the form No. 22 hereto attached for credit institutions, foreign bank branches and individuals holding posts as managers or leaders of credit institutions, Directors General (Directors) of foreign bank branches that recommend nominees for commendations or rewards under the authority of the Governor or state-level commendations or rewards.

3. SBV branches in cities or provinces shall be responsible for providing information necessary for consideration of commendation and rewarding by using the form No. 22 hereto attached for teams of credit institutions and individuals holding posts as Directors or Vice Directors of branches of credit institutions that recommend nominees for commendations or rewards under the authority of the Governor or state-level commendations or rewards.

4. Departments, Administrations, Authorities or units concerned in the banking sector shall be responsible for providing information necessary for consideration of commendations or rewards for teams or individuals of SBV, Deposit Insurance of Vietnam, Training Teams and Standing Entities of Associations and enterprises under the SBV’s authority.

5. Communications Department shall be responsible for publicly posting information on the SBV’s portal about teams and individuals nominated for Orders of all kinds, ranks, state-level honourable titles and “Winner of National Honourable Title”.

6. Finance – Accounting Department shall be responsible for cooperating with the Department of Emulation, Commendation and Rewarding in providing instructions about use of emulation, commendation and rewarding funds, payment of reward sums in accordance with regulations, and synthesizing data about receipts and expenditures for submission to the Department of Emulation, Commendation and Rewarding by June 31 and December 31 on an annual basis.

7. Heads of units specified in point a of clauses 2, 3, 4 and 5 of Article 3 herein shall be responsible for providing instructions about emulation, commendation and rewarding activities to ensure that these activities are corresponding to business scale and conditions of each unit.

Best regards!