Application for approval for provisional lists of personnel of credit institutions in Vietnam

Specifically, according to Article 6 of Circular No. 22/2018/TT-NHNN of the State Bank of Vietnam, an application for approval for provisional lists of personnel of credit institutions includes:

1. A document of the credit institution requesting the State Bank to approve the list of its personnel application for approval for provisional lists of personnel of the credit institution, which contains at least:

- Reasons for election or appointment;

- Provisional list of personnel, which specifies full names, titles and supervisory unit; titles before and after election or appointment carried out at the credit institution;

- Composition and list of members of Board of Directors, members of Board of Members and members of Board of Controllers before and after the election or appointment (in the case of election or appointment of members of Board of Directors, members of Board of Members or members of Board of Controllers). To be specific:

+ Regarding the credit institution being a joint-stock company: clearly state the number of members of Board of Directors, the number of independent members and non-executive members of the Board of Directors, the number of members who are related persons prescribed in Clause 2 Article 62 of the Law on Credit Institutions; the number of members of Board of Directors, number of full-time members of Board of Controllers;

+ Regarding the credit institution being a limited liability company: clearly state the number of members of Board of Directors, the number of members of Board of Controllers, the number of full-time members of Board of Controllers.

- 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 personnel to be elected or appointed, including the assessment of fulfillment of each condition.

2. A document ratifying the provisional list of personnel of the credit institution (clearly stating the term of the Board of Directors, Board of Members or Board of Controllers), to be specific:

- The credit institution that is a joint-stock company shall submit a Resolution of the Board;

- The credit institution that is a single-member limited liability company shall submit a document issued by its owner;

- The credit institution that is a multi-member limited liability company shall submit:

+ a document issued by the competent representatives of the capital contributors (in case of the appointment of members of Board of Members or members of Board of Controllers);

+ the Resolution of the Board of Members (in case of appointment of Director General (Director)).

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 02 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 member of Board of Director or member of Board of Members of the credit institution as prescribed in Point d Clause 1 Article 50 of the Law on Credit Institutions, to be specific:

- Regarding the condition “have at least 03 years’ experience of working as a manager or executive of a credit institution or at least 05 year’s experience of working as a manager or executive of a finance, banking, accounting or audit enterprise”:

+ A copy of the enterprise registration certificate (regarding the enterprise that is not a credit institution);

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

+ A document issued by the competent representative of the unit 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 working as a manager or executive of an enterprise whose equity is not smaller than the legal capital of a credit institution”:

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

+ Copies of financial statements audited by the independent audit organization of the enterprise where the proposed personnel worked or is working;

+ 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.

- Regarding the condition “have at least 05 years’ experience of working in a finance, banking accounting or audit department”: 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 department and period of time over which he/she has worked in such department or copies of documents proving the department where he/she has worked and period of time over which he/she has undertaken his/her tasks in such department.

8. 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, 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.

9. Documentary evidences for fulfillment of the standard and condition “have at least 03 years’ experience of working in the finance, banking, accounting or audit field” by the personnel expected to hold the position of member of Board of Controllers of the credit institution as prescribed in Point c Clause 3 Article 50 of the Law on Credit Institutions of Vietnam: 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.

10. Regarding the personnel to be elected or appointed in the cases specified in Points dd and e Clause 2 Article 33 of the Law on Credit Institutions: a document issued by the competent authority appointing the proposed personnel as the representative of the State’s stakes at the credit institution.

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

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