STATE
BANK OF VIETNAM
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SOCIALIST
REPUBLIC OF VIET NAM
Independence - Freedom – Happiness
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No:
24/2011/TT-NHNN
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Hanoi,
August 31, 2011
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CIRCULAR
ON IMPLEMENTING THE SCHEME OF ADMINISTRATIVE PROCEDURE SIMPLIFICATION
IN BANKING ESTABLISHMENT AND OPERATION UNDER THE RESOLUTIONS OF THE GOVERNMENT
ON THE SIMPLIFICATION OF ADMINISTRATIVE PROCEDURES WITHIN THE JURISDICTION OF
THE STATE BANK OF VIETNAM
- Pursuant to the Law on the
State Bank of Vietnam No. 46/2010/QH12 dated 16 June 2010;
- Pursuant to the Law on
Credit Institutions No. 47/2010/QH12 dated 16 June 2010;
- Pursuant to the Decree No.
96/2008/ND-CP dated 26 August 2008 of the Government providing for the
functions, duties, authorities and organizational structure of the State Bank
of Vietnam;
- Pursuant to the Resolution
No. 60/NQ-CP dated 17 December 2010 of the Government on the simplification of
administrative procedures within the jurisdiction of the State Bank of Vietnam,
- Pursuant to the Resolution
No. 25/NQ-CP dated 02 June 2010 of the Government on the simplification of 258
administrative procedures within the jurisdiction of Ministries, industries;
The State Bank of Vietnam
(hereinafter shortly referred to as the State Bank) hereby announces to amend,
supplement, replace or abolish some provisions at legal documents issued by the
State Bank for the implementation of the scheme of administrative procedure
simplification in banking establishment and operation as follows:
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1. To amend, supplement the
Paragraph 1 Article 15 as follows:
"1. To prepare the
application file in accordance with provisions in Article 6 of the Circular No.
09/2010/TT-NHNN into 08 sets (in which, there are 02 original ones) and send
via post service or directly to the head office of the State Bank (Banking
Inspection and Supervision Department) for approval to the bank establishment
in principle; 01 set shall be sent via post service or directly to the head
office of the People's Committee of the province, city (where the bank's head
office is expected to locate) for approval to the location of the head office
in the same local area".
2. To amend, supplement point b
Paragraph 2 Article 15:
"b. To prepare the
application file in accordance with provisions in Article 7 of the Circular No.
09/2010/TT-NHNN into 02 original sets and send via post service or directly to
the head office of the State Bank (Banking Inspection and Supervision
Department);"
3. To adjust "the maximum
period of 90 days" as provided for in point d Paragraph 2 Article 15 into
"the maximum period of 60 days".
4. To amend, supplement
Paragraph 3 Article 18:
"3. To act as the head in
receiving and appraising the Application file for issuance of License:
a. Within a period of 02 working
days since the receipt of the application file, the
Banking Inspection and
Supervision Department shall provide a written confirmation on the list of
documents.
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- Within a maximum period of 60
days since the receipt of the application file for approval in principle, the
Banking Inspection and Supervision Department shall send the Preparatory Board
with a written confirmation stating that it has fully received the valid
application file. In case where the application file is insufficient in
accordance with applicable provisions, the State Bank shall send a dispatch to
the Preparatory Board for requesting the supplement to and completion of the
file.
- Within a maximum period of 90
days since the full receipt of the application file as provided for in Article
6 of this Circular, the Banking Inspection and Supervision shall be responsible
for:
+ Issuing a written request for
appraisement enclosing with the application file and sending to members of the
Appraisement Board for consideration. The application for appraisement shall
state clearly the appraisement result and proposed opinion on the issuance of
the License;
+ Issuing a written request on
convening the Preparatory Board to present the issues relating to the bank
establishment in accordance with provisions in Paragraph 6 Article 15 of this
Circular;
+ Appraising the application
file, summarizing the opinion of members of the Appraisement Board and
preparing a statement, asking the Chairman of the Appraisement Board to convene
a meeting of members of the Appraisement Board for reviewing the application
file for approval in principle to the bank establishment;
+ Submitting to the Chairman of
the Appraisement Board, on the basis of the Minutes of the Appraisement Board's
meeting, for submission to the Governor of the State Bank:
(i) To issue a document on
approval in principle to the bank establishment if conditions provided for in
this Circular are fully satisfied; or
(ii) To issue a document on not
approval in principle yet to the bank establishment and ask the Preparatory
Board to complete the application file or explain the related matters that are
unclear in the application file; or
(iii) To issue a document on
disapproval in principle to the bank establishment if the application file
fails to fully satisfy conditions as provided for in the Circular No.09/2010/TT-NHNN.
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Within a maximum period of 30
days since the receipt of the full application file in accordance with
applicable provisions, the Banking Inspection and Supervision Department shall
be responsible for appraising the application file and submitting to the
Chairman of the Appraisement Board for submission to the Governor of the State
Bank for:
- Signing the Decision on
issuance of License, confirming the registration of Charter on organization and
operation; or
- Issuing a document on not
approval in principle yet to the issuance of License and ask the Preparatory
Board to complete the application file or explain the related matters that are
unclear in the application file; or
- Issuing a document on
disapproval in principle to the issuance of License in case of conditions
provided for in this Circular are not fully satisfied.".
Article 2.
To amend, supplement several articles of the Regulation on the establishment
and operation of overseas national currency exchange companies under the direct
control of State-owned and people's joint stock commercial banks issued in
conjunction with the Decision No. 951/2003/QD-NHNN dated 18 August 2003 of the
Governor of the State Bank for implementing the scheme of simplification as
mentioned in Paragraph 27 Section III Part A of the Resolution No.60/NQ-CP as
follows:
1. To abolish Paragraph 5,
Paragraph 6 and Paragraph 8 in Article 4.
2. To amend, supplement
Paragraph 1 Article 5:
"1. A joint stock
commercial bank which establishes an underlying overseas national currency
exchange company shall prepare 01 application file in accordance with
provisions in Article 4 of this Regulation and send directly or via post
service to the State Bank (Banking Inspection and Supervision
Department).".
3. To abolish Paragraph 2
Article 5 and point a Paragraph 1 Article 13.
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1. To amend, supplement Article
5 for implementing the scheme of simplification as mentioned in Paragraph 34 of
the Resolution No. 60/NQ-CP:
"Article 5.
1. The joint stock commercial
bank shall prepare 01 application file as prescribed in Article 4 of this
Regulation and send via post service or directly to the State Bank (Banking
Inspection and Supervision Department) for consideration and settlement.
2. Within a period of 20 working
days since the full receipt of the application file as prescribed, the State
Bank shall review and provide written approval or disapproval to the
registration for listing of stocks in the securities market by the joint stock
commercial bank."
2. To abolish Article 12.
3. To amend, supplement Article
13: "Article 13.
The Banking Inspection and
Supervision Department shall be responsible for receiving the application
files, reviewing and submitting to the Governor of the State Bank for approval
or disapproval to the registration for listing stocks at the State Securities
Commission by the joint stock commercial bank.".
4. To amend, supplement
Paragraph 1 Article 15: "Article 15.
1. In the implementation, if
there is any difficulty, units shall reflect in writing to the State Bank (Banking
Inspection and Supervision Department) for timely collection and submission to
the Governor of the State Bank for decision.".
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Article 4.
To amend, supplement and abolish several articles in the Circular
No.03/2007/TT-NHNN dated 05 June 2007 of the Governor of the State Bank Guiding
the implementation of several articles of the Decree No. 22/2006/ND-CP dated 28
February 2006 of the Government on the organization and operation of foreign
bank's branches for implementing the scheme of simplification as mentioned in
Paragraphs 37, 38, 39, 40, 41, 42, 43, 44, 45 section III Part A of the
Resolution No.60/NQ-CP and Paragraphs 3, 4, 5, 9, 10, 11 Section A Part XVI of
the Resolution No. 25/NQ-CP as follows:
1. To amend, supplement points
7.1, 7.2 for implementing the scheme of simplification as mentioned in
Paragraphs 37, 39 Section III Part A of the Resolution No. 60/NQ-CP and
Paragraph 10 Section A, Part XVI of the Resolution No. 25/NQ-CP:
"7.1. The application file
for issuance of License shall be made into one original including two (02)
sets, one in Vietnamese and one in English, in which:
a. Documents in English must be
legalized, including:
- Documents mentioned in items
a, b, d, m, n point 6.1 of this Circular;
- Documents mentioned in items
a, b, c, d, g, p, q point 6.2 of this Circular;
- Documents mentioned in items
a, g, h point 6.3 of this Circular.
b. Vietnamese copies and the
translations from English into Vietnamese must be certified by a competent
State agency; particularly, for the translations of annual financial
statements, it is acceptable for them to be certified by agencies,
organizations which have translation competence and function. It is not
required to translate Vietnamese documents, which are the original (or
duplicated from the Vietnamese original) and prepared in Vietnam, into English.
7.2. Entire of the above
original file shall be made in two (02) extra copies and sent, directly or via
post service, to the State Bank (Banking Inspection and Supervision
Department). Within a period of 20 working days since the receipt of the file,
the State Bank (Banking Inspection and Supervision Department) shall provide a
written confirmation of the full receipt of file or give a notice of the file
condition and request to supplement information, file (in case of insufficiency
and invalidity). Within a period of 10 working days after the receipt of additional
information, file, the State Bank (Banking Inspection and Supervision
Department) shall provide a written confirmation about the full receipt of file
or keep giving a notice of the file state in accordance with hereinabove
principles.".
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"a. An application for
extension of the operation period (Appendix 01a.DGH, 01b.DGH enclosed with this
Circular).".
3. To abolish point g in
Paragraph 9 for implementing the scheme of simplification as mentioned in
Paragraph 38 Section III Part A of the Resolution No. 60/NQ-CP.
4. To amend, supplement
Paragraph 18 for implementing the scheme of simplification as mentioned in
Paragraph 39 Section III Part A of the Resolution No. 60/NQ-CP:
"18. Transformation file
18.1. Transforming a joint
venture bank to a 100% foreign owned bank
File for transformation of a
joint venture bank into a 100% foreign owned bank shall include documents as
stated in items a, b, c, d, e, g, h, o, p in Paragraph 6.2 Section III Part I
of the Circular No. 03/2007/TT-NHNN. Besides, the joint venture bank that has a
demand for transformation must submit:
a. An application for the
transformation of the joint venture bank into the 100% foreign owned bank
signed by Chairman of the Board of Directors of the joint venture bank;
b. Minutes (or Resolution) of
the meeting of the Board of Directors of the joint venture bank agreeing to the
transformation from the joint venture bank into the operation model of a 100%
foreign owned bank;
c. Contract (or commitment) of
the capital transfer of the Vietnamese party in the joint venture to the
foreign assignee.
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18.2. Transforming a 100%
foreign owned bank to a joint venture bank
File for transformation of a
100% foreign owned bank to a joint venture bank shall include documents as
stated in items a, b, c, d, e, g, h, o, p Paragraph 6.2 Section III Part I of
the Circular No. 03/2007/TT-NHNN. Besides, the 100% foreign owned bank that has
a demand for transformation must submit:
a. An application for the
transformation of the 100% foreign owned bank into a joint venture bank signed
by Chairman of the Board of Directors of the 100% foreign owned bank;
b. Minutes (or Resolution) of
the meeting of the Board of Directors of the 100% foreign owned bank consenting
to the transformation from the 100% foreign owned bank into the operation model
of a joint venture bank;
c. Contract (or commitment) of
the capital assignment to the Vietnamese party in the joint venture;
The capital assignment must
ensure the ratio as provided for in Article 46 of the Decree (the capital
contribution level of the foreign party shall not exceed 50%, at the maximum,
of the charter capital of the joint venture bank).
5. To amend, supplement item a
point 23.1 for implementing the scheme of simplification as mentioned in
Paragraph 11 Section A Part XVI of the Resolution No. 25/NQ-CP:
"a. Application for the
change of name, which is supported by the signature of the Chairman of Board of
Directors of the joint venture bank, 100% foreign owned bank, or the competent
person of the foreign bank (in respect of a foreign bank's branch) (Appendix
02a.DGH, 02b.DGH enclosed herewith)".
6. To abolish item c in point
23.1 for implementing the scheme of simplification as mentioned in Paragraph 11
Section A Part XVI of the Resolution No. 25/NQ-CP.
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"c. In the event where the
100% foreign owned bank, joint venture bank increases its capital due to the
changes in capital contribution members, it shall be required to supplement the
file in accordance with provisions in point 57.3 of the Circular
No.03/2007/TT-NHNN".
8. To abolish item d point 23.2
for implementing the scheme of simplification as mentioned in Paragraph 3
Section A Part XVI of the Resolution No. 25/NQ-CP.
9. To amend, supplement point a
Paragraph 24 for implementing the scheme of simplification as mentioned in
Paragraph 11 Section A Part XVI of the Resolution No.25/NQ-CP:
“a. Application files for
changes as mentioned above shall be made in 01 set and sent via post service or
directly to the State Bank (Banking Inspection and Supervision Department).
Within a period of 30 working days since the full receipt of the valid
application file, the State Bank shall provide a written approval or
disapproval to the application for changes as above said. In case of
disapproval, the State Bank shall provide support reasons.”.
10. To abolish item d point 57.2
for implementing the scheme of simplification as mentioned in Paragraph 41
Section III Part A of the Resolution No. 60/NQ-CP.
11. To amend, supplement point
57.3 for implementing the scheme of simplification as mentioned in Paragraph 42
Section III Part A of the Resolution No. 60/NQ-CP:
“57.3. The application file for
transfer to a new partner other than the 100% foreign owned bank or the joint
venture bank:
In this case, the new partner
shall be required to submit an application for receiving the transfer of
contributed capital in the 100% foreign owned bank, the joint venture bank and
submit one (01) set of application file via post service or directly to the
State Bank (Banking Inspection and Supervision Department), enclosing with documentations
its ability to fully satisfy the conditions for establishment and operation of
a 100% foreign owned bank, joint venture bank as prescribed in point 5.3
Section III Part I of this Circular and as required by the State Bank.
Additionally, the 100% foreign
owned bank, joint venture bank shall submit the State Bank (Banking Inspection
and Supervision Department) with following documents:
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- Reason of the transfer;
- Report on the appraisal of
legal status, financial condition of the new partner, ability to satisfy the
prescribed conditions for participating in the 100% foreign owned bank, joint
venture bank of the new partner
- Other proposals (if any)
concerning the amendment of, supplement to the Charter, name, location of head
office, adjustment of contents in the establishment and operation Licence of
the 100% foreign owned bank, the joint venture bank, joint venture contract;
change in members of the Board of Directors, Controllers Committee, General
Director (Director) of the 100% foreign owned bank, the joint venture bank; and
other contents that need amending, supplementing relating to this capital
transfer.
b. Resolution of the Board of
Directors of the 100% foreign owned bank, joint venture bank on agreeing to the
capital transfer.
c. A contract (commitment,
agreement) on the capital transfer between the transferor and the transferee;
12. To amend, supplement points
a, b in Paragraph 58 for implementing the scheme of simplification as mentioned
in Paragraphs 41, 42, 43 Section III Part A of the Resolution No. 60/NQ-CP:
"a. Related documents in
the file of capital transfer which are prepared in foreign country (if any)
must be made in English and legalized (except for cases provided for in point
7.1 section III part I of this Circular). Vietnamese copies and translations
from English into Vietnamese shall be certified.
b. The joint venture bank, 100%
foreign owned bank shall prepare 01 set of file and send directly or via post
service to the State Bank (Banking Inspection and Supervision Department).
Within a period of 30 working days since the full receipt of the valid file,
and 90 days for the case of assigning capital to the new partner outside the
100% foreign owned bank, joint venture bank, the State Bank shall provide a
written approval or disapproval to the application for the capital transfer and
accompanied changes. In case of disapproval, the State Bank shall clearly state
the reason thereof in writing.".
13. To amend, supplement item a
point 69.1 and item a point 69.2 for implementing the scheme of simplification
as mentioned in Paragraph 44 Section III Part A of the Resolution No. 60/NQ-CP:
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b. To amend, supplement item a
point 69.2: "a. The authorized representative of the foreign credit
institution shall send the State Bank (Banking Inspection and Supervision
Department), directly or via post service, an application for the change of the
representative office’s location, which states clearly the reason for the
change of location (01 original copy).".
14. To supplement point c to
Paragraph 71 for implementing the scheme of simplification as mentioned in
Paragraph 45 Section III Part A of the Resolution No. 60/NQ-CP, Paragraph 9
Section A Part XVI of the Resolution No. 25/NQ-CP:
"c. Where the
representative office has completed the obligations, procedures as prescribed
above, it shall submit, directly or via post service, 01 set of certified
copies of related documents proving the completion of obligations, procedures
to the State Bank (Banking Inspection and Supervision Department). Within a
period of five (05) working days since the date where the representative office
fully submit the required documents, the State Bank shall make decision on
closure and revocation of the representative office's License.".
15. To amend, supplement point a
Paragraph 72 for implementing the scheme of simplification as mentioned in
Paragraph 45 Section III Part A of the Resolution No.60/NQ-CP:
"a. In this case, within 60
days at the minimum prior to the expected date of terminating operation of the
representative office, the foreign credit institution shall send, directly or
via post service, an application to the State Bank (Banking Inspection and
Supervision Department).".
16. To supplement the Circular
No. 03/2007/TT-NHNN with Appendixes No. 01a.DGH, 01b.DGH, 02a.DGH and 02b.DGH
enclosed with this Circular.
Article 5.
To amend, supplement and abolish several articles of the Regulation on issuance
of establishment and operation license of joint stock non-banking credit
institutions issued in conjunction with the Decision No. 40/2007/QD-NHNN dated
02 November 2007 of the Governor of the State Bank for implementing the scheme
of simplification as mentioned in Paragraphs 46, 47 Section III Part A of the
Resolution No. 60/NQ-CP as follows:
1. To abolish Paragraph 10
Article 14.
2. To amend, supplement
Paragraphs 1, 2 Article 22:
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1. Upon the availability of the
written approval in principle of the State Bank, the Preparatory Board shall be
responsible for:
a. Convening the first General
Shareholders' Meeting for adopting contents in line with provisions in
Paragraph 2 Article 4 of this Regulation;
b. Preparing sets of documents
as prescribed in Article 14 of this Regulation and submitting 02 sets (original
ones) directly or via post service to the State Bank (Banking Inspection and
Supervision Department).".
3. To replace the form of
Application for Establishment and Operation License of a joint stock
non-banking credit institution at the Appendix No. 01 issued in conjunction
with the Decision No. 40/2007/QD-NHNN with the Appendix No. 03.DGH enclosed
with this Circular.
Article 6.
To amend, supplement and abolish several paragraphs at the Circular
No.06/2002/TT-NHNN dated 23 December 2002 on guiding the implementation of the
Decree No. 79/2002/ND-CP dated 04 October 2002 of the Government on the
organization and operation of finance companies for implementing the scheme of
simplification as mentioned in Paragraph 48 Section III Part A of the
Resolution No.60/NQ-CP as follows:
1. To amend, supplement point
4.1:
"4.1. Charter capital of a
Finance company shall be contributed in Vietnamese dong or freely convertible
foreign currency, providing that it must be converted to Vietnamese dong at the
average exchange rate in the inter-bank market at the time of capital contribution".
2. To amend, supplement points
7.2, 7.3, 7.7:
a. To amend, supplement points
7.2, 7.3:
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7.3. Founding members shall be
organizations, individuals that have financial prestige and capacity,
specifically as follows:
a. For organizations:
- For Vietnamese enterprises
that are not credit institutions:
+ Their owner's capital shall be
VND 500 billion, at the minimum, in the year consecutively preceding the year
of applying for establishment of the limited liability finance company with two
members and more. In the event where an economic group applies for
establishment of a limited liability finance company with one member, its
owner's capital shall be equal to VND 1000 billion at the minimum and there is
a commitment that it will provide financial support to the finance company in
case where the finance company encounters difficulty in capital or solvency;
+ Their business in the year
consecutively preceding the year of applying for establishment of the finance
company is profitable;
+ The contributed capital for
establishment shall satisfy following requirement: owner's capital, after
excluding the difference between long term investments and long term loans,
must be equal, at the minimum, to the committed contributed capital (method of
determination shall be implemented as provided for in the Appendix No. 04.DGH
enclosed with this Circular).
- For Vietnamese credit
institutions, following requirements must be ensured:
+ To maintain the prudential
ratios in activities in conformity with provisions of applicable laws after
contributing capital to the finance company;
+ Total Assets to be equal to
VND 50,000 billion at the minimum, the ratio of bad debts over the total
outstanding loans is less than 3% at the time of applying for contributing
capital for the establishment of the finance company;
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+ The business is performed on a
healthy and safe basis and profitable in the year consecutively preceding the
year of applying for the establishment of the finance company.
- For foreign credit
institutions participating in the establishment of a joint venture finance
company or 100% foreign owned finance company:
+ Total Assets to be equal to
USD 10 billion at the end of the year before the time of applying, except
otherwise as provided for in the bilateral investment Agreement between Vietnam
and the home country;
+ The business is performed on a
healthy and safe basis and profitable in the year consecutively preceding the
year of applying for the establishment of the finance company;
+ In case where the foreign
credit institution is a bank, besides conditions as prescribed above, it must
be a prestigious bank and be ranked as medium and stable or higher by an
international rating institution; and its ratio of bad debt is less than 3%.
b. For individuals:
- To have Vietnamese nationality
and not be a prohibited subject in accordance with provisions in Paragraph 2
Article 13 of the Law on Enterprises 2005;
- To have a fair financial
capacity for contributing capital to the establishment of the finance company;
- Not to be a person who is
being prosecuted for criminal liability or is bearing a conviction;
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- To commit to provide financial
support to the finance company in case where the finance company encounters
difficulty in capital or solvency.”.
b. To amend, supplement point
7.7:
“7.7. Other conditions in
accordance with provisions of the Law on Credit Institutions.”.
3. To abolish point 8.7.
4. To amend, supplement point
12.3:
“12.3. Organizations,
individuals applying for the issuance of License shall be required to submit
two (02) sets of original application files as provided for in points 12.1 and
12.2, via post service or directly, to the State Bank (the Banking Inspection
and Supervision Department).”.
Article 7.
To amend, supplement points 10.2, 10.3 of the Circular No. 06/2005/TT- NHNN
dated 12 October 2005 of the State Bank on guiding the implementation of
several contents of the Decree No. 16/2001/ND-CP dated 02 May 2001 of the
Government on the organization and operation of finance companies and the
Decree No. 65/2005/ND-CP dated 19 May 2005 of the Government on the amendment
of, supplement to several articles of the Decree No. 16/2001/ND-CP for
implementing the scheme of simplification as mentioned in Paragraph 48 Section
III Part A of the Resolution No. 60/NQ-CP as follows:
“10.2. For a finance company
that is an underlying company of a credit institution: The application file for
issuance of License shall be made in two (02) sets and sent directly or via
post service to the State Bank (the Banking Inspection and Supervision
Department).
10.3. For a joint venture
finance company and 100% foreign owned finance company: The application file
for issuance of License shall be made in two (02) sets (one set in Vietnamese
and one set in English) and sent directly or via post service to the State Bank
(the Banking Inspection and Supervision Department).”.
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1. To amend, supplement
Paragraph 1 Article 4 of the Regulation on factoring activity of credit
institutions issued in conjunction with the Decision No. 1096/2004/QD-NHNN:
“1. Factoring units: shall be
credit institutions as prescribed in point 2.1 Paragraph 2 Article 1 of this
Regulation.”.
2. To abolish Article 5, Article
8 and Article 9 of the Regulation on factoring activity of credit institutions
issued in conjunction with the Decision No. 1096/2004/QD-NHNN and Paragraphs 4
and 5 Article 1 of the Decision No. 30/2008/QD-NHNN.
Article 9.
To amend, supplement and abolish several paragraphs in the Circular
No.02/2008/TT-NHNN dated 02 April 2008 of the State Bank on guiding the
implementation of the Decree No. 28/2005/ND-CP dated 09 March 2005 of the
Government on the organization and operation of small and medium financial
institutions in Vietnam and the Decree No. 165/2007/ND-CP dated 15 November
2007 of the Government on the amendment, supplement and abolishment of several
articles of the Decree No. 28/2005/ND-CP for implementing the scheme of
simplification as mentioned in paragraphs 62, 63 Section III Part A of the
Resolution No. 60/NQ-CP as follows:
1. To abolish point 10.4 for
implementing the scheme of simplification as mentioned in Paragraph 62 Section
III Part A of the Resolution No. 60/NQ-CP.
2. To supplement point 11.4 for
implementing the scheme of simplification as mentioned in Paragraph 62 Section
III Part A of the Resolution No. 60/NQ-CP:
“11.4. The small sized financial
institution applying for the issuance of License shall submit its application
file in line with provisions in points 11.1 and 11.2 via post service or
directly to the State Bank (the Banking Inspection and Supervision Department).
3. To amend, supplement
Paragraph 16 for implementing the scheme of simplification as mentioned in
Paragraph 63 Section III Part A of the Resolution No. 60/NQ-CP:
“16. Extension of the License
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a. An application for extension
to be sent to the Governor of the State Bank, which is signed by the Chairman
of the Board of Directors;
b. A written consent of the
Conference of Members (Owners) to the extension of the License;
c. A Resolution of the Board of
Directors on the extension of the License;
d. A report on the operation
condition in the latest 3 years signed by the Chairman of the Board of
Directors, which states clearly the operation result, the implementation of
targets of operational prudence in conformity with provisions of the State
Bank, operation network, main type of customers, number of member customers,
assessment on the social impact brought about by the institution, a summary of
the achieved and under- achieved goals as against the plan and the expected
strategy of operation in the coming time;
dd. An expected operation plan
in the first 3 years after the extension of the License, clearly stating the
matters as provided for in Paragraph 10 point 10.3 of this Circular/
16.2. The State Bank shall be
entitled to ask the applying institution to explain and/or supplement documents
for the purpose of clarifying contents in the application file for extension as
stated in point 16.1 of this paragraph.
16.3. Within a period of 30
(thirty) days since the full receipt of the application file for extension as
stipulated in point 16.1 of this paragraph, the State Bank shall consider and
decide to approve or refuse the extension of License for the small sized
financial institution. In case of refusal, the State Bank shall a document
explaining the reason of thereof.
16.4. The extension of operation
period shall be reviewed by the State Bank on a case-by- case basis. The
extended period shall be equal to the period provided for in the previous
License at the maximum.
16.5. Within a period of 15
(fifteen) working days since the extension date of the License, the small sized
financial institution shall publish the contents as prescribed in Paragraph 15
point 15.1 item h of this Circular on a Central or local newspaper in three
consecutive editions.”.
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Article 10.
To amend, supplement and abolish several paragraphs of the Circular No.
07/2007/TT-NHNN of the State Bank on guiding the implementation of several
contents of the Decree No. 69/2007/ND-CP dated 20 April 2007 of the Government
on the purchase of shares at Vietnamese commercial banks by foreign investors,
for implementing the scheme of simplification as mentioned in Paragraph 7
Section A Part XVI of the Resolution No. 25/NQ-CP of the Government as follows:
1. To abolish point 5.5.
2. To amend, supplement point
8.2:
"8.2. To prepare 03 sets of
application files (01 original set and 02 duplicated sets) in accordance with
provisions in Paragraph 5 of this Circular and send, directly or via post
service, to the State Bank (the Banking Inspection and Supervision
Department).".
3. To change the provision on
"07 working days" to "05 working days" in Paragraph 10 and
Paragraph 11.
Article 11.
Implementation provision
This Circular shall be effective
from 14 October 2011.
Article 12.
Implementation organization
Director of the Administrative
Department, Head of related units of the State Bank, General Managers of State
Bank’s branches in provinces, cities under the central Government’s management
and Chairman of Board of Directors (Board of Members), General Director
(Director) of credit institutions and other related organizations, individuals
shall be responsible for organizing the implementation of this Circular.
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GOVERNOR
OF THE STATE BANK
Nguyen Van Binh
APPENDIX 01A.DGH
NAME
OF CREDIT INSTITUTION
-------
SOCIALIST
REPUBLIC OF VIET NAM
Independence - Freedom – Happiness
---------
No:
………..
…,
date ……
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FOREIGN BANK'S BRANCH
To:
the Governor of the State Bank of Vietnam
On ….date ……., Bank ……. (name of
the foreign bank) was granted by the Governor of the State Bank of Vietnam with
the License for opening a foreign bank's branch No. … in …. (province/city
where the head office of the foreign bank's branch is located). Thereby, the
operation period of the foreign bank's branch (Name of the foreign bank's
branch) shall expire in … Based on the demand of operation, cooperation,
investment and business with credit institutions, economic organizations of
Vietnam, the Bank … (name of the foreign bank) hereby would like to submit the
Governor of the State Bank with an application and the related file for
extension of the operation period for the foreign bank's branch (name of the
foreign bank's branch) in Vietnam.
Bank … (name of the foreign
bank) hereby undertakes:
- For the accuracy, truthfulness
of contents in the application file for extension of the operation period.
- To keep strictly implementing
provisions of laws of Vietnam and of the State Bank of Vietnam.
Chairman
of the Board of Directors
(Or an authorized representative of the foreign CI)
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APPENDIX NO. 01B.DGH
NAME
OF CREDIT INSTITUTION
-------
SOCIALIST
REPUBLIC OF VIET NAM
Independence - Freedom – Happiness
---------
No:
………..
…,
date ……
APPLICATION FOR THE EXTENSION OF THE OPERATION
PERIOD
JOINT VENTURE BANK, 100% FOREIGN OWNED BANK
To:
the Governor of the State Bank of Vietnam
On ….date ……., Bank ……. (name of
the joint venture bank, 100% foreign owned bank) was granted by the Governor of
the State Bank of Vietnam with the Establishment and Operation License No.
Thereby, the operation period of the Bank (name of the branch) shall expire in
…
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Bank … (name of the joint
venture bank, 100% foreign owned bank) hereby undertakes:
- For the accuracy, truthfulness
of contents in the application file for extension of the operation period.
- To keep strictly implementing
provisions of laws of Vietnam and of the State Bank of Vietnam.
Chairman
of the Board of Directors
APPENDIX NO. 02A.DGH
NAME
OF CREDIT INSTITUTION
-------
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No:
………..
…,
date ……
APPLICATION FOR THE CHANGE OF NAME
FOREIGN BANK'S BRANCH
To:
the Governor of the State Bank of Vietnam
On ….date ……., Bank ……. (name)
was granted by the Governor of the State Bank of Vietnam with the License for
opening a foreign bank's branch No. … Now, the Bank (name) has a demand for
changing the name of the foreign bank's branch in Vietnam. The Bank (name)
hereby would like to submit the Governor of the State Bank with an application
and the related file for changing the name of the foreign bank's branch in
Vietnam with following contents:
- Name of the foreign bank's
branch stated in the License:
- Name proposed to be change:
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The Bank (name) hereby
undertakes that the change of name shall not affect the operation of the
foreign bank's branch in Vietnam.
Chairman
of the Board of Directors
(Or an authorized representative of the foreign CI)
APPENDIX NO. 02B.DGH
NAME
OF CREDIT INSTITUTION
-------
SOCIALIST
REPUBLIC OF VIET NAM
Independence - Freedom – Happiness
---------
No:
………..
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APPLICATION FOR THE CHANGE OF NAME
JOINT VENTURE BANK, 100% FOREIGN OWNED BANK
To:
the Governor of the State Bank of Vietnam
On ….date ……., Bank ……. (name of
the joint venture bank, 100% foreign owned bank) was granted by the Governor of
the State Bank of Vietnam with the Establishment and Operation License No.
Based on the minutes of the
capital contributing members' meeting… (or a document of the parent bank… ),
the Bank (name of the joint venture bank, 100% foreign owned bank) hereby would
like to submit the Governor of the State Bank with an application and the
related file for changing the name of the foreign bank's branch in Vietnam with
following contents:
- Name of the foreign bank's
branch stated in the License:
- Name proposed to be change:
- Reason of the change:
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Chairman
of the Board of Directors
(Or an authorized representative of the foreign CI)
APPENDIX NO. 03.DGH
Preparatory
Board for
Establishment of Joint stock Non- banking CIs
-------
SOCIALIST
REPUBLIC OF VIET NAM
Independence - Freedom – Happiness
---------
…,
date ……
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APPLICATION FOR THE ISSUANCE OF THE ESTABLISHMENT
AND OPERATION LICENSE OF A JOINT STOCK NON-BANKING CREDIT INSTITUTION
To:
the Governor of the State Bank
- Pursuant to the Law on the
State Bank of Vietnam No. 46/2010/QH12 dated 16 June 2010;
- Pursuant to the Law on
Credit Institutions No. 47/2010/QH12 dated 16 June 2010;
- Pursuant to the Decree No.
79/2002/ND-CP dated 04 October 2002 of the Government on the organization and
operation of joint stock non-banking credit institutions (for the case of
establishment of a joint stock finance company); or
- Pursuant to the Decree No.
16/2001/NQ-CP dated 02 May 2001 of the Government on the organization and
operation of finance leasing companies, Pursuant to the Decree No.65/2005/NQ-CP
dated 19 May 2005 of the Government on the amendment, supplement of several
Articles of the Decree No. 16/2001/NQ-CP dated 02 May 2001 of the Government on
the organization and operation of finance leasing companies (for the case of
establishment of a joint stock finance leasing company);
- Pursuant to the Regulation
on the issuance of the Establishment and Operation License of joint stock
non-banking credit institutions issued in conjunction with the Decision
No.40/2007/QD-NHNN dated 02 November 2007 of the Governor of the State Bank of
Vietnam;
- Based on the Minutes of the
first General Shareholders' Meeting of the joint stock non- banking credit
institution dated … on the agreement to the establishment of the joint stock
non-banking credit institution, adoption of the Charter on organization and
operation, election of members of the Board of Directors, members of
Controllers Committee;
- Based on the Minutes of the
meeting of the joint stock non-banking credit institution's Board of Directors
dated … on the election of the title Chairman of the Board of Directors, title
General Director (Director); Minutes of the meeting of the joint stock non-
banking credit institution's Controllers Committee dated… on the election of
the title Chief of the Controllers Committee.
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I. To grant the Establishment
and Operation License of the joint stock non-banking credit institution as
follows:
1. Name of the joint stock
non-banking credit institution:
- Full name in Vietnamese
- Abbreviated name in Vietnamese
- Full name in English
- Abbreviated name in English
- Trading name (if any)
2. Address of the head office,
telephone, fax, email
3. Area of operation:
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5. Period of operation:
6. Charter capital:
II. To confirm the
registration of the Charter on organization and operation of the joint stock
non-banking credit institution.
Upon the availability of the
Establishment and Operation License, we shall proceed with the business
registration, publication of operation information and notice of the conditions
for opening the operation in accordance with provisions of applicable laws.
We undertake to fully satisfy
conditions provided for in Article 8 and Article 12 of the Regulation on
issuance of the establishment and operation license of joint stock non- banking
credit institution issued in conjunction with the Decision No. 40/2007/QD- NHNN
dated 02 November 2007.
We undertake to strictly comply
with provisions of applicable laws, of the State Bank of Vietnam and the
Charter on organization and operation of the joint stock non-banking credit
institution; if violating, we shall take full responsibility to the law.
On
behalf of the Preparatory Board for
Establishment of Joint stock Non-banking CIs
Head of the Board
(Signature, full name)
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Enclosure:
APPENDIX 04.DGH
METHOD OF CALCULATING THE FINANCIAL CAPACITY OF
VIETNAMESE ENTERPRISES THAT ARE NOT CREDIT INSTITUTIONS
a. General formula
Financial
capacity for contributing capital for the establishment of the finance
company
=
Owner's
capital
-
Difference
between long term investments and long term debts
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A = E-LI
LI
= LA - LD
Of which:
+ A: Financial capacity for
contributing capital for the establishment of the finance company.
+ E: Owner's capital.
+ LI: Difference between the
long term investments and long term debts.
+ LA: Long term assets.
+ LD: Long term debts. c.
Conclusion:
* If A amount of capital
committed to contribute for the establishment of the finance company, the
financial capacity of that enterprise shall be deemed as competent.
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APPENDIX NO. 05.DGH
CURRICULUM VITAE
Main contents of the curriculum
vitae shall include:
1. Personal information:
- Registered full name:
- Commonly used full name:
- Other known name(s):
- Date of birth:
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- Nationality and method of
obtaining the nationality (place of birth, marriage, nationality acquisition):
- Permanent address in the
family registered book, address in the Identity card and current residence
address:
- Number of Identity card (or
passport/other equivalent personal identity documents):
- Date of issue and place of
issue of Identity card (or passport/other equivalent personal identity
documents):
- Name and address of banks of
which you use services in the past 5 years (if any):
2. Qualifications or certificate
of education level, professional level, foreign language level, place and
duration of study:
3. Current occupation and
position, working experience in the past 10 years (to specify name and address
of each workplace, main works, working position and duration):
4. To clearly state whether you
were a major shareholder (directly or indirectly holding at least 10% of the
charter capital or voting share capital) of another organization in the past 10
years; If yes, to state clearly name and main contents of operation of that
organization, amount of contributed capital and your rights and benefits at
that organization.
5. Have you or the organization
where you participate in the capacity of an owner or manager (holding the
position from Deputy General Director (Deputy Director) or equivalent position
and higher) ever been dealt with disciplinary measure, warned, criticized by
the public opinion, declared to be bankrupt by the court or was a subject of
investigation, judgment of a competent authority? If yes, please to make clear.
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7. Have you ever defaulted at
the maturity and been forced to pay debt under the order of a competent
authority? If yes, please to make clear.
8. Family relationship: to
specify full name, age, profession, position, workplace of parents, adoptive
parents (if any), parents in-law, spouse, children, adoptive children (if any),
brothers, sisters.
9. Other information that you
may deem as related to the assessment of the State Bank of your moral status
and management, operation capacity (especially in case where the omission of
this information may result in the inaccurate assessment).
10. Commitments to the law:
- I undertake to take full
responsibility to the law if providing, intentionally or unintentionally, false
information during the submission of application and related files for the
issuance of establishment and operation license of the small sized financial
institution.
- I assure that the information
declared above is full and correct and there is no other event relating to the
contents of this declaration that the State Bank should be informed.
- I assure that I do not belong
to the subjects as stipulated in Article 18 of the Decree No.
28/2005/ND-CP dated 09 March
2005 of the Government on the organization and operation of small sized
financial institutions in Vietnam.
- I undertake to inform the
State Bank of any change relating to the information declared above that may
arise during the time when the State Bank reviews the application file.
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12. Confirmation of the head of
unit or the competent authority (if the individual is working at an entity) or
of the People's Committee of the commune, ward where the individual's permanent
residence address is registered (if the individual is not working at an
entity).