Vietnam’s new regulations on the Banking Supervision Agency

16:18, 21/05/2019

On May 17, 2019, the Government of Vietnam issued Decree No. 43/2019/NĐ-CP providing amendments to Decree No. 26/2014/NĐ-CP on organization and operation of banking inspection and supervision authorities.

Decree No. 43/2019/NĐ-CP of Vietnam’s Government amends and supplements the structure and tasks of the Banking Supervision Agency as follows:

- The Banking Supervision Agency is a General Department-level authority that is affiliated to the SBV and assigned to advise and assist the SBV’s Governor in performing the state management of credit institutions, foreign bank branches, banking inspection & supervision performance, complaint and denunciation settlement, anti-corruption, anti-money laundering, etc.;

- The Banking Supervision Agency is comprised of Departments and Office: Directors of Banking Supervision Departments shall decide to carry out inspections and establish inspection teams to inspect assigned entities, perform duties and powers of an inspection decision maker and impose penalties for administrative violations.

View full text at Decree No. 43/2019/NĐ-CP of Vietnam’s Government, effective from May 17, 2019.

- Thanh Lam -

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