To amend the application composition of some administrative procedures in the banking sector in Vietnam

To amend the application composition of some administrative procedures in the banking sector in Vietnam

According to Decision 658/QD-NHNN, amending the application composition of a number of administrative procedures in the banking sector in Vietnam, including:

- Procedures for licensing in the case of conversion of microfinance programs and projects

- Procedures for granting a license to a microfinance institution that is a limited liability company with two or more members

- Procedures for granting a license to a microfinance institution that is a one-member limited liability company

- Procedures for applying for a license for the establishment and operation of a joint-stock commercial bank

- Procedures for granting a license for the establishment and operation of a limited liability non-banking credit institution

- Procedures for granting a license for the establishment and operation of a joint-stock non-bank credit institution

- Procedures for applying for a license to establish and operate a joint-venture bank, a bank with 100% foreign capital

- Procedures for the issuance of licenses for the establishment and operation of people's credit funds

For example, for the licensing procedure for the conversion of a microfinance program or project, the curriculum vitae of the persons expected to be elected or appointed as members of the Members' Council, members of the Supervisory Board, and the General Director (Director) of the microfinance institution certify as follows:

The certification of resumes of organizations and individuals is carried out on the basis of data mining of citizens' residence on the National Database of Population or checking VNelD applications under the guidance of the Ministry of Public Security and does not require organizations and individuals to submit or present paper household registration books and temporary residence books in accordance with the provisions of Article 14 of Decree 104/2022/ND-CP of the Government of Vietnam.

More details can be found in Decision 658/QD-NHNN dated 14/4/2023.

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