Application for approval for proposal for appointment of Director General of a foreign bank’s branch in Vietnam

Specifically, according to Article 7 of Circular No. 22/2018/TT-NHNN of the State Bank of Vietnam, application for approval for proposal for appointment of Director General (Director) of a foreign bank’s branch includes:

1. A document issued by the foreign bank's branch requesting the State Bank to approve the proposal for appointment of Director General (Director) of a foreign bank’s branch in Vietnam, which contains at least:

- Reasons for appointment of Director General (Director) of the foreign bank’s branch;

- Full name, title and supervisory unit, number of passport, ID card or Citizen ID of the appointed Director General (Director);

- A document about the assessment of fulfillment of conditions and standards in accordance with the Law on Credit Institutions and relevant regulations of law by the Director General (Director) to be appointed, including the assessment of fulfillment of each condition.

2. A document issued by the competent representative of the foreign bank ratifying the proposal for appointment of Director General (Director) of the foreign bank’s branch in Vietnam.

3. Resumé of personnel to be elected or appointed, made using the sample in the Appendix 01 of Circular No. 22/2018/TT-NHNN.

4. Criminal record of personnel to be elected or appointed:

- In case the proposed personnel holds Vietnamese nationality, his/her criminal record must be issued by the agency managing criminal record database and contain sufficient information about criminal records (including the criminal records that have been or not been expunged) and prohibition from holding certain positions, incorporation and management of enterprises and cooperatives;

- In case the proposed personnel does not hold Vietnamese nationality, his/her criminal record or an equivalent document (which contains sufficient information about criminal records, including the criminal records that have been or not been expunged, and about prohibition from holding certain positions, incorporation and management of enterprises and cooperatives) must be issued by a Vietnamese competent authority or foreign competent authority as prescribed.

The criminal record or equivalent document must be issued by a competent authority before the credit institution submits the application for approval for the provisional list of personnel for a maximum of 06 months.

5. A list of the persons relating to the personnel to be elected or appointed, made using the sample in the Appendix of Circular No. 22/2018/TT-NHNN.

6. Copies of diplomas and certificates proving professional qualifications of the personnel to be elected or appointed; if the diploma of a Vietnamese person is issued by a foreign educational institution, it must be recognized by the Ministry of Education and Training in accordance with relevant regulations of law.

7. Documentary evidences for fulfillment of standards and conditions by the personnel expected to hold the position of Director General (Director) of the credit institution as prescribed in Point d Clause 4 Article 50 of the Law on Credit Institutions of Vietnam, to be specific:

- Regarding the condition “have at least 05 year’s experience of working as an executive of a credit institution”:

+ Contents of Charter of the credit institution or enterprise about the executive;

+ A document issued by the competent representative of the credit institution where the personnel worked or is working, which certifies his/her position and period of time over which he/she has held the position or copies of documents proving his/her position and period of time over which he/she has held the position.

- Regarding the condition “have at least 05 years’ experience of holding the position of Director General (Director) or Deputy Director General (Deputy Director) of an enterprise whose equity is not smaller than the legal capital of a credit institution and at least 05 years’ experience of working in the finance, banking, accounting or audit field”:

+ Copies of financial statements audited by the independent audit organization of the enterprise where the proposed personnel held or is holding the position of Director General (Director) or Deputy Director General (Deputy Director);

+ A document issued by the competent representative of the enterprise where the personnel worked or is working, which certifies his/her position and period of time over which he/she has held the position or copies of documents proving his/her position and period of time over which he/she has held the position;

+ A document issued by the competent representative of the unit where the personnel worked or is working, which certifies he/she has worked in the finance, banking accounting or audit field and period of time over which he/she has worked in such field or copies of documents proving the field that he/she has been in charge of and period of time over which he/she has undertaken his/her tasks in such field.

- Regarding the condition “have at least 10 years’ experience of working in the finance, banking, accounting or audit field”: A document issued by the competent representative of the unit where the personnel worked or is working, which certifies he/she has worked in the finance, banking accounting or audit field and period of time over which he/she has worked in such field or copies of documents proving the field that he/she has been in charge of and period of time over which he/she has undertaken his/her tasks in such field.

View relevant contents at Circular No. 22/2018/TT-NHNN of the State Bank of Vietnam, effective from November 01, 2018.

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