Regulations on disclosure of dissolution information of non-bank credit institutions in Vietnam

09:09, 29/01/2019

The State Bank of Vietnam issued Circular No. 53/2018/TT-NHNN on the operating network of non-bank credit institutions.

According to Circular No. 53/2018/TT-NHNN of the State Bank of Vietnam (SBV), within 07 business days from the date of termination of operation or dissolution of the branch, representative office or administrative unit, the non-bank credit institution must:

- post up notices of such operation termination or dissolution at its headquarters;

- concurrently publish information concerning such operation termination or dissolution on the websites of the SBV and of the non-bank credit institution (if any), and on three consecutive editions of central and/or local daily printed newspapers or online newspapers of Vietnam.

Information to be published includes:

- Name and address of the branch, representative office or administrative unit that has its operation terminated or is dissolved.

- Date of termination of operation or dissolution.

- Responsibility of the non-bank credit institution to settle issues concerning assets, rights, obligations and relevant benefits of the branch, representative office or administrative unit having its operation terminated or dissolved.

View details at Circular No. 53/2018/TT-NHNN of the State Bank of Vietnam, effective from March 01, 2019.

-Thao Uyen-

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