Simplified content of issuance and supplementation of digital certificate operations of the State Bank in Vietnam

Le Truong Quoc Dat

15:47, 20/10/2023

The simplified content of issuance and supplementation of digital certificate operations of the State Bank is contained in Decision 1205/QĐ-TTg dated October 18, 2023 on approving the plan to reduce and simplify regulations related to business activities within the scope of management functions of the State Bank of Vietnam issued by the Prime Minister.

Simplified content of issuance and supplementation of digital certificate operations of the State Bank in Vietnam

The Prime Minister requested a plan to reduce and simplify regulations related to procedures for issuing and supplementing digital certificate operations of the State Bank as follows:

- Content reduced and simplified:

+ Remove the document component: "Business registration certificate or cooperative registration certificate or documents of equivalent value".

Reason: Directly exploit information about businesses, credit institutions, and foreign bank branches at the National Business Registration Database.

+ Remove the profile component: "Document confirming the title of the person requesting issuance or supplementation of digital certificate operations".

Reason: Providing a document confirming title is not really necessary when issuing digital certificates. Abolishing this document component helps cut printing costs, saves time, and is convenient for implementation subjects.

+ Shorten the time to resolve administrative procedures from 05 working days to 03 working days.

Reason: Ensuring urgency and timeliness in providing digital signature authentication services of the State Bank of Vietnam (SBV) for agencies, organizations, and individuals.

- Recommendations for implementation:

+ Amend and supplement Article 5 of Circular 28/2015/TT-NHNN (amended by Circular 10/2020/TT-NHNN).

+ Implementation roadmap: October 2023.

In addition, the Prime Minister also assigned the State Bank of Vietnam and relevant ministries and branches within their authority to be responsible for implementing the implementation in accordance with the content and deadline in the Plan to reduce and simplify regulations related to business activities approved in Decision 1205/QD-TTg dated October 18, 2023.

More details can be found in Decision 1205/QD-TTg taking effect on October 18, 2023.

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