To simplify administrative procedures in banking information technology business lines in Vietnam

To simplify administrative procedures in banking information technology business lines in Vietnam (Internet image)

Regarding this issue, LawNet would like to answer as follows:

On October 18, 2023, the State Bank of Vietnam issued Decision 1205/QD-TTg approving a plan to reduce and simplify regulations related to business activities under the scope of management functions of the State Bank of Vietnam.

To simplify administrative procedures in banking information technology business lines in Vietnam

Specifically, the following administrative procedures related to the banking information technology business will be reduced and simplified according to the contents set out in Decision 1205/QD-TTg:

(1) Issue and supplement digital certificate operations (Code: 1.000852)

Reduced and simplified content

- Remove the document element: "Business registration certificate or cooperative registration certificate or documents of equivalent value".

Purpose: Directly exploit information about businesses, credit institutions, and foreign bank branches at the National Business Registration Database.

- Remove the profile component: "Document confirming the title of the person requesting issuance or supplementation of digital certificate operations".

Purpose: Providing a document confirming title is not really necessary in issuing digital certificates. Abolishing this document component helps cut printing costs, saves time, and is convenient for implementation subjects.

- Shorten the time to resolve administrative procedures from 05 working days to 03 working days.

Purpose: Ensuring urgency and timeliness in providing digital signature authentication services of the State Bank of Vietnam (SBV) for agencies, organizations and individuals.

(2) Extend and change digital certificate information content (Code: 1.000218)

Reduced and simplified content: Shorten the time to resolve administrative procedures from 05 working days to 03 working days.

Purpose: Ensuring urgency and timeliness in providing digital signature authentication services by the State Bank for agencies, organizations, and individuals.

(3) Suspend digital certificate (Code: 1.000213)

Reduced and simplified content: Shorten the time to resolve administrative procedures from 03 working days to 01 working day.

Purpose: Ensuring urgency and timeliness in providing digital signature authentication services by the State Bank for agencies, organizations, and individuals.

(4) Restore the digital certificate (Code: 1.000207)

Reduced and simplified content: Shorten the time to resolve administrative procedures from 03 working days to 01 working day.

Purpose: Ensuring urgency and timeliness in providing digital signature authentication services by the State Bank for agencies, organizations, and individuals.

(5) Change the digital certificate key pair (Code: 1.000189)

Reduced and simplified content: Shorten the time to resolve administrative procedures from 05 working days to 03 working days.

Purpose: Ensuring urgency and timeliness in providing digital signature authentication services of the State Bank for agencies, organizations, and individuals.

(6) Change the digital certificate activation code (Code: 1.000156)

Reduced and simplified content: Shorten the time to resolve administrative procedures from 05 working days to 03 working days.

Purpose: Ensuring urgency and timeliness in providing digital signature authentication services by the State Bank for agencies, organizations, and individuals.

(7) Issuebank code (Code: 2.000630)

Reduced and simplified content

- Remove the following profile components:

+ A photocopy of the establishment and operation license of the credit institution and foreign bank branch specified in Point b, Clause 2, Article 9 of Circular 17/2015/TT-NHNN; A photocopy of the license to establish a dependent unit of the credit institution specified in Point b, Clause 3, Article 9 of Circular 17/2015/TT-NHNN; A photocopy of the establishment and operation license specified in Point b, Clause 4, Article 9 of Circular 17/2015/TT-NHNN.

Purpose: Reusing the results of resolving administrative procedures that have been digitized on the SBV Public Service Portal system helps cut printing costs, save time, and is convenient for implementation subjects.

+ A photocopy of the Establishment Decision of the competent authority specified in Point b Clause 5, Point b Clause 6 Article 9 Circular 17/2015/TT-NHNN.

Purpose: Because this information can be exploited in a written request from a competent state management agency.

- Amend the form requesting for granting a bank code, the form requesting for granting an online bank code management account in a simple manner, suitable for implementation in the electronic environment: amend Appendix No. 01, Appendix No. 04 attached to Circular 17/2015/TT-NHNN.

Purpose: To facilitate the organization in the process of implementing administrative procedures, thereby reducing time and details

(8) Cancel bank code (Code: 2.000634)

Reduced and simplified content

- Remove the following profile components:

+ A photocopy of the merger or consolidation decision of the unit whose bank code is canceled as prescribed in Point b, Clause 3, Article 10 of Circular 17/2015/TT-NHNN;

+ A photocopy of the decision to terminate operations of the unit allowed to cancel the banking code specified in Point b, Clause 4, Article 10 of Circular 17/2015/TT-NHNN;

+ A photocopy of the Decision on dissolution, bankruptcy, or termination of operations of the unit whose bank code is canceled as prescribed in Point b, Clause 5, Article 10 of Circular 17/2015/TT-NHNN.

Purpose: Reusing the results of resolving administrative procedures that have been digitized on the SBV Public Service Portal system helps cut printing costs, save time, and is convenient for implementation subjects.

- Amend the form requesting cancellation of bank code to make it simpler and more suitable for implementation in the electronic environment: amend Appendix No. 02 attached to Circular 17/2015/TT-NHNN.

Purpose: To facilitate organizations in the process of implementing administrative procedures, thereby reducing time and saving costs.

(9) Adjust banking information (Code: 1.001283)

Reduced and simplified content

- Remove profile components: photocopy of the SBV's written approval for credit institutions and foreign bank branches when requesting to adjust banking information specified in Point b, Clause 2, Article 11 of Circular 17/2015/TT-NHNN

Purpose: Reusing the results of resolving administrative procedures that have been digitized on the SBV Public Service Portal system helps cut printing costs, save time, and is convenient for implementation subjects.

- Amend the form requesting adjustment of banking information to make it simpler and more suitable for implementation in the electronic environment: amend Appendix No. 03 attached to Circular 17/2015/TT-NHNN.

Purpose: To facilitate organizations in the process of implementing administrative procedures, thereby reducing time and saving costs.

Decision 1205/QD-TTg takes effect from the date of signing.

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