Procedures for approval for provisional lists of personnel of credit institutions and foreign banks’ branches in Vietnam

Specifically, according to Article 8 of Circular No. 22/2018/TT-NHNN of the State Bank of Vietnam, procedures for approval for provisional lists of personnel of credit institutions and foreign banks’ branches are as follows:

Step 1: Submit application

The credit institution or foreign bank’s branch shall prepare an application as prescribed in Articles 6 and 7 of Circular No. 22/2018/TT-NHNN and submit it to the State Bank (Central Banking Inspection and Supervision Authority).

If the application is unsatisfactory, within 07 working days from the receipt of the application, the State Bank (Central Banking Inspection and Supervision Authority) shall request the credit institution or foreign bank’s branch in writing to complete it.

The credit institution or foreign bank’s branch shall complete the application at the request of the State Bank within up to 45 working days from the date on which additional documents are requested in writing by the State Bank (Central Banking Inspection and Supervision Authority).

After the aforementioned time limit, the credit institution or foreign bank’s branch shall re-submit an application as prescribed in Circular No. 22/2018/TT-NHNN to the State Bank for consideration and approval.

Step 2: Approve the provisional lists of personnel

Within 30 working days from the receipt of satisfactory application prescribed in Articles 6 and 7 of Circular No. 22/2018/TT-NHNN, the State Bank shall send a written approval or written rejection of the provisional list of the credit institutions or foreign bank’s branch.

In case of rejection, a written explanation shall be provided.

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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