Qualifications for appointment as a President of credit guarantee fund in Vietnam

Qualifications for appointment as a President of credit guarantee fund in Vietnam (Internet image)

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

1. Who is the President of credit guarantee fund?

According to Clause 1, Article 10 of Decree 34/2018/ND-CP, the President of credit guarantee fund who is appointed by the President of People’s Committee of province shall work as a full-time job if the Fund organizes an independent executive apparatus as prescribed in Point a Clause 1 Article 14 of Decree 34/2018/ND-CP.

2. Qualifications for appointment as a President of credit guarantee fund in Vietnam

Specifically, in Clause 2, Article 10 of Decree 34/2018/ND-CP, the qualifications for appointment as a President of credit guarantee fund include:

- Be a Vietnamese citizen as per the law;

- Have full legal capacity and attain fitness to work;

- Obtain a bachelor’s degree or higher, have at least 5 years’ managerial experience in economics, finance, banking, law, accounting, audit, securities, or insurance sector;

- Be not spouse, natural parent, adoptive parent, natural child, natural sibling, brother or sister in-law of the President, Deputy President of the President of People’s Committee of province; Director, Deputy Director and chief accountant of the credit guarantee fund;

- Other qualifications as required by the People's Committee of province in accordance with charter of organization and operation of credit guarantee fund.

3. Responsibilities and entitlements of President of credit guarantee fund in Vietnam

Responsibilities and entitlements of President of credit guarantee fund in Vietnam include:

- Decide annual, medium and long-term strategies, operational plans, and financial plans of the credit guarantee fund with the consent of the People's Committee of province;

- Approve financial statements, profit sharing, build up annual funds of the credit guarantee fund with the appraisal issued by controllers and the consent of the People's Committee of province;

- Decide operational plans, payroll, organizational apparatus of the credit guarantee fund as prescribed in this Decree, charter of organization and operation of the credit guarantee fund and relevant laws after receiving the People's Committee of province’s approval;

- Promulgate regulations on extending of credit guarantees, regulations on financial management and capital mobilization, regulations on management and use of funds, regulations on risk handling and other internal documents prescribed herein and charter of organization and operation of the credit guarantee fund with approval of the People's Committee of province;

- Decide the planning, appointment, dismissal, conclusion and termination of contracts, commendation, disciplinary actions of managerial positions in the credit guarantee fund within their competence prescribed in this Decree and charter of organization and operation of credit guarantee fund

- Decide or authorize the Director to decide plan for fundraising, investment, construction, sale/purchase of fixed assets and other activities within their competence prescribed in prescribed in this Decree and charter of organization and operation of credit guarantee fund and relevant laws;

- Exercise other entitlements and fulfill other responsibilities as required by the People's Committee of province prescribed in prescribed in this Decree and charter of organization and operation of credit guarantee fund.

(Clause 3, Article 10 of Decree 34/2018/ND-CP)

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