Legal Counselling

Vietnam: 04 contents required in an inspection decision in banking sector

10:21, 05/02/2017

The State Bank of Vietnam issued Circular No. 36/2016/TT-NHNN on December 30, 2016, which specifies contents required in an inspection decision in banking sector.

According to Circular No. 36/2016/TT-NHNN of the State Bank of Vietnam, based on the approved annual inspection plan and the report on the results of collection of information and documents (if any), the person who has the power to issue the inspection decision shall issue the inspection decision and direct the chief of the inspectorate to formulate an inspection plan.

An inspection decision includes the following contents:

- Legal grounds for carrying out an inspection;

- Scope, targets, contents and tasks of inspection;

- Duration of inspection;

- The chief and members of the inspectorate.

Notably, within 05 days from the day on which the inspection decision is signed, the inspection decision shall be sent to the inspected entity.

View more details at Circular No. 36/2016/TT-NHNN of the State Bank of Vietnam, effective from February 18, 2017.

-Thao Uyen-

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