According to Official Dispatch No. 8854/NHNN-TTGSNH dated October 28, 2024 of the State Bank of Vietnam on soliciting opinions on the draft Circular replacing Circular 36/2015/TT-NHNN dated December 31, 2015 of the Governor of the State Bank of Vietnam stipulating conditions, dossiers, and procedures for approving the reorganization of credit institutions (Draft Circular).
The State Bank said that during their operations, a number of non-bank credit institutions encountered difficulties and obstacles in their operations, partly due to limitations in their scope of operations and requests to convert their type from a specialized finance company to a general finance company.
Therefore, it is necessary to develop a Circular replacing Circular No. 36 to supplement regulations on converting the type of non-bank credit institutions in order to create conditions for non-bank credit institutions to develop and expand their scope of operations.
Accordingly, the State Bank has developed and issued a Circular replacing Circular No. 36 to guide the Law on Credit Institutions, in accordance with the provisions on business registration, the functions and tasks of the Banking Inspection and Supervision Agency, the State Bank provincial branches and practical needs arising.
In particular, the draft Circular is developed to guide Article 201 of the Law on Credit Institutions and is based on the following orientations: Supplementing regulations on conversion of non-bank credit institutions; Amending a number of provisions to comply with the provisions on the functions and tasks of the Banking Inspection and Supervision Agency and the State Bank provincial branches; Amending and supplementing regulations related to business registration and the State Bank's notification of information on granting, amending, supplementing and revoking Credit Institution Licenses to business registration agencies for updating into the national information system on business registration.
Specifically, the draft Circular consists of 6 Chapters and 29 Articles, including: Chapter I: General provisions (7 Articles); Chapter II: Mergers and consolidations of credit institutions (7 Articles); Chapter III: Conversion of legal forms of credit institutions (5 Articles); Chapter IV: Conversion of types of non-bank credit institutions (5 Articles); Chapter V: Responsibilities of relevant units (2 Articles); Chapter VI: Implementation provisions (3 Articles).
The Vietnam Banking Association requests member credit institutions to provide comments on this draft.
Please send your comments (including word files) to the Vietnam Banking Association at email address: minhthu300999@gmail.com before November 13, 2024 for synthesis (Phone: 0339.120.916 - Ms. Minh Thu).
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