From November 01, 2024, amendment to the Brief resume for managers of credit information service providers in Vietnam

From November 01, 2024, amendment to the Brief resume for managers of credit information service providers in Vietnam

Decree 133/2024/ND-CP has amended and supplemented Section 1, Section 4, and the Notes section of the Summary Resume Template in Appendix VI issued together with Decree 133/2024/ND-CP for managers and members of the supervisory board of credit information service providers in Vietnam as follows:

Simultaneously, Decree 133/2024/ND-CP also amends the regulations regarding the personal resume declaration of each individual who is a manager, a member of the supervisory board of a credit information company in the dossier requesting the State Bank to issue a Certificate of Eligibility for Credit Information Service Supply.

More details can be found in Decree 133/2024/ND-CP, which takes effect from November 1, 2024.

* Regulations on Providing Credit Information Products Currently

(1) Credit information companies provide credit information products to the following users:

- Participating organizations to serve the needs of seeking borrowers, assessing borrowers, and other legitimate purposes as regulated by law;

- Borrowers, who are provided with credit information products about themselves to use for their legitimate purposes;

- Other credit information companies to collect credit information as regulated in Article 18 of Decree 58/2021/ND-CP for credit information service supply activities;

- State management agencies with authority to serve state management as regulated by law in Vietnam;

- Other organizations and individuals to serve legitimate purposes as regulated by law in Vietnam.

(2) After reaching an agreement with the user as prescribed in Clause 1, Article 21 of Decree 58/2021/ND-CP, the credit information company is entitled to refuse to provide credit information products and must provide a written notice of the reasons for refusal (with relevant documents if any) to the user at least 20 working days before ceasing to provide credit information products if discovering that the user violates the signed agreement, regulations of Decree 58/2021/ND-CP and related laws in Vietnam.

(Article 21 of Decree 58/2021/ND-CP)

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