The promulgation of the Law on Credit Institutions in 2024 aims to be consistent with the Law on Promulgation of Legal Documents. In particular, there are several terms and conditions for owners of credit institutions that are one-member limited companies, founding shareholders, and founding members prescribed by the Government.
In addition, there are some other terms and conditions for foreign credit institutions in terms of total assets and financial situation according to the regulations of the Governor of the State Bank of Vietnam.
Furthermore, the decentralization of authority regarding administrative procedures aims to ensure clarity and consistency in dossiers and procedures for first-time licensing of commercial banks, foreign bank branches, and foreign representative offices.
Accordingly, the draft Circular is built to guide commercial banks, foreign bank branches, and foreign representative offices to implement synchronically in accordance with the provisions of law and reality.
The draft Circular has 24 Articles, including: Chapter I with 3 Articles; Chapter II with 14 Articles; Chapter III with 5 Articles; Chapter IV with 2 Articles.
VNBA requests its member organizations to research and provide comments on this Draft.
Written comment papers (including word files) should send to VNBA via the email address: lehoanghiep1511@gmail.com before May 13, 2024. Contact phone: 0395.646. 500 - Mr. Hoang Hiep.
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