Vietnam: Supplementing the task on licensing banking operations of the Banking Supervision Agency

08:10, 21/05/2019

This content is specified in Decree No. 43/2019/NĐ-CP of Vietnam’s Government providing amendments to Decree No. 26/2014/NĐ-CP on organization and operation of banking inspection and supervision authorities.

The Banking Supervision Agency shall advise and assist the Governor of the State Bank of Vietnam (SBV), and banking supervision unit of SBV’s provincial branches shall advise and assist Directors of SBV’s provincial branches to:

- issue, modify or revoke the license for establishment and operation granted to credit institutions, license to establish foreign bank branches, license to establish representative offices of foreign credit institutions or other foreign organizations performing banking activities and other license to perform banking activities;

- issue or revoke license to provide credit information services;

- issue or revoke certificates of registration of microfinance programs/projects;

- consider giving approval of acquisition, full or partial division, merger, consolidation, legal status transformation or dissolution of credit institutions/foreign bank branches;

- handle organizational, management and administration matters of credit institutions/foreign bank branches;

- perform some rights and responsibilities of the owner’s representative agency for the state capital invested in credit institutions, financial institutions and enterprises which operate under the SBV’s management in accordance with laws;

- …

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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