New regulations on charter of non-bank credit institutions in Vietnam

08:53, 26/02/2019

The State Bank of Vietnam issued Circular No. 01/2019/TT-NHNN on amendments to Circular No. 30/2015/TT-NHNN on licensing, organization and operation of non-bank credit institutions.

According to Vietnam’s new regulations, charter and amended charter of non-bank credit institutions are specified as follows:

- The Charter of a non-bank credit institution must include the primary contents prescribed in Clause 1 Article 31 of the Law on credit institutions and must be conformable with the Law on credit institutions and relevant laws. The non-bank credit institution shall assume the full legal responsibility for its Charter and amendments to its Charter, if any.

- After getting the license, the non-bank credit institution must submit its Charter to the State Bank of Vietnam (SBV) within 15 (fifteen) business days from the date on which the Charter is approved by the General Meeting of Shareholders or the Board of Members. If the Charter is amended, the non-bank credit institution must submit it to SBV within 15 (fifteen) business days from the date on which the amended charter is approved.

View full text at Circular No. 01/2019/TT-NHNN of the State Bank of Vietnam, effective from March 20, 2019.

- Thanh Lam -

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