On the issuance of Circular No. 47/2025/TT-NHNN

Circular No. 47/2025/TT-NHNN was issued to achieve the following objectives:

• First, to implement the Plan for streamlining and simplifying administrative procedures related to business operations under the management of the SBV, as approved by the Prime Minister in Decision No. 2070/QD-TTg dated September 16, 2025.

• Second, to maximize the simplification of procedures and documentation in accordance with the directives of the Government, the National Assembly, and the Politburo regarding the reduction of administrative processing time and legal compliance costs, thereby supporting the development of the private sector (pursuant to Resolution No. 68-NQ/TW dated May 4, 2025, of the Politburo on private sector development).

• Third, to ensure consistency with the provisions of the Law on Credit Institutions 2024.

• Fourth, to align with the organizational structure of the SBV as stipulated in Decree No. 26/2025/ND-CP, which defines the functions, tasks, powers, and organizational structure of the State Bank of Vietnam.

The Circular comprises 4 Chapters (10 Articles), specifically:

• Chapter I: General Provisions (4 Articles).

• Chapter II: Procedures for approving the listing of joint-stock credit institutions on overseas stock exchanges (2 Articles).

• Chapter III: Responsibilities of joint-stock credit institutions and relevant units (2 Articles).

• Chapter IV: Implementation Provisions (2 Articles).

This Circular shall take effect from January 29, 2026.

THE STATE BANK OF VIETNAM

by VNBA News