SBV announces a number of amendments and supplementations to, and replacements of administrative procedures for the establishment and operations in the banking sector
30/11/2020 08:11
On November 16, 2020, the Governor of the State Bank of Vietnam (SBV) issued Decision No. 1940/QD-NHNN announcing a number of amendments and supplementation to, and replacements of administrative procedures for the establishment and operations in the banking sector as stipulated in Circular No. 11/2020/TT-NHNN dated November 2, 2020. These procedures shall be performed at the one-stop shop services under the SBV’s jurisdiction.
Accordingly, the SBV has officially launched newly amended and supplemented administrative procedures, namely “Procedures for extending the duration of liquidation of assets of credit institutions and foreign banks’ branches”, and “Procedures for the revocation of licenses of representative offices of foreign credit institutions and other foreign institutions with banking operations in Vietnam”.
Also in this Decision, the SBV has announced the replacement of the administrative procedures for the revocation of licenses and the liquidation of assets of credit institutions and foreign banks’ branches. The new administrative procedures to replace the above mentioned procedure are as follows: “Procedures for the revocation of licenses and the liquidation of assets of credit institutions and foreign banks’ branches under the SBV Governor’s jurisdiction”, and “Procedures for the revocation of licenses and the liquidation of assets of credit institutions and foreign banks’ branches under the jurisdiction of the Directors of the SBV municipal and provincial branches”.
Decision No. 1940/QD-NHNN takes effect from December 17, 2020, and shall abolish Decision No. 249/QD-NHNN dated February 5, 2018 announcing a number of amended and supplemented administrative procedures for the establishment and operations in the banking sector under the SBV’s jurisdiction./.
Source: sbv.gov.vn