Vietnam: Rules for preparing and submitting applications for approval for personnel of banks

According to Circular No. 22/2018/TT-NHNN of the State Bank of Vietnam, rules for preparing and submitting applications for approval for provisional lists of personnel of non-bank credit institutions and foreign banks’ branches are specified as follows:

- An application for approval for provisional list of personnel of a credit institution or foreign bank’s branch shall be prepared according to the following rules:

+ It must be made in Vietnamese language. The document that is issued, notarized or certified by a foreign organization shall be consularly legalized as prescribed by Vietnam’s law (except for the cases in which consular legalization is exempted in accordance with regulations of law on consular legalization) and translated into Vietnamese;

+ Translations from a foreign language into Vietnamese must be notarized or bear the translator’s signature as prescribed by law;

+ Copies of documents of personnel to be elected or appointed must be copies from the master register or certified true copies as prescribed by law;

+The documents prepared by personnel to be elected or appointed must bear signatures as prescribed by law.

- The document of a credit institution or foreign bank’s branch requesting the State Bank to approve the list of its personnel must be signed by the legal representative or the authorized representative.

In case the authorized representative appends his/her signature, the application must include a power of attorney made as prescribed by law.

- The application enclosed with a list of documents prepared by the credit institution/foreign bank’s branch shall be submitted by post or directly to the State Bank.

- The credit institution, foreign bank’s branch and personnel to be elected or appointed shall take legal responsibility for the adequacy, accuracy and truthfulness of the application.

 This is the content specified in Article 4 of Circular No. 22/2018/TT-NHNN of the State Bank of Vietnam, effective from November 01, 2018.

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