06 Principles of Commendation in the Banking Sector Applicable from December 16, 2019

Principles of Commendation in the Banking Sector are carried out according to Article 3 of Decree 91/2017/ND-CP dated July 31, 2017, by the Government of Vietnam, detailing the implementation of certain provisions of the Law on Emulation and Commendation and the provisions in Article 4 of Circular 17/2019/TT-NHNN as follows:

Illustration (source internet)

- Within a year, the Governor of the State Bank only awards a Certificate of Commendation or proposes state-level commendation once for a collective or individual, except for sudden or specialized commendations.- No commendation or proposal for higher-level commendation for collectives or individuals who are under disciplinary consideration by competent authorities, under investigation, inspection, or examination due to signs of violation, or having complaints or denunciations being clarified.- Commendation or submission for commendation is only considered for credit institutions, branches of credit institutions, branches of foreign banks, and individuals who are Managers or Executives of credit institutions, General Directors (Directors) of branches of foreign banks with a non-performing loan ratio at the level decided by the Governor annually.- Collectives and individuals in the banking sector proposing for “Certificate of Commendation from the Prime Minister of the Government of Vietnam” shall use the “Certificate of Commendation from the Governor” (for overall achievement) as a standard for consideration. For collectives and individuals from the Banking Inspection and Supervision Agency, Banking Academy, University of Banking Ho Chi Minh City, and Communist Party organizations or unions, the consideration standard is the “Certificate of Commendation from the Governor” or ministerial, sectoral, or central union-level Certificates of Commendation (for overall achievement).- The standard for “Outstanding Collective Performance” to qualify for commendation is the collective being recognized by the competent authority as “Excellent Labor Collective.”- The time for the subsequent commendation proposal is calculated based on the time of achievement stated in the previous commendation decision. For commendation decisions that do not state the time of achievement, the subsequent commendation proposal time is calculated based on the issuance date of the previous commendation decision.

Refer to the full text of the regulation in Circular 17/2019/TT-NHNN, effective from December 16, 2019.

Thu Ba

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