Tiếng Việt- 1 Law No. 22/2008/QH12 of November 13, 2008, on cadres and civil servants
- 2 Law No. 47/2010/QH12 of June 16, 2010, on credit institutions
- 3 Cooperative Law No. 23/2012/QH13 of November 20, 2012
- 4 Decree No. 130/2013/ND-CP of October 16, 2013, on the production and provision of public-utility products and services
- 5 Law No. 68/2014/QH13 dated November 26, 2014, on enterprises
- 1 Decision No. 1389/2001/QD-NHNN of November 07, 2001, promulgating the regulation on the establishment of debt management and asset exploitation companies under Commercial Banks.
- 2 Decree No. 10/2010/ND-CP of February 12, 2010, on credit information-related activities
- 3 Law No. 46/2010/QH12 of June 16, 2010, on the State Bank of Vietnam
- 4 Circular No. 40/2011/TT-NHNN of December 15, 2011, regulating on licensing and organizations, operations of commercial banks, foreign bank branches, representative offices of foreign credit institutions and other foreign organizations with banking operations in Vietnam
- 5 Decree No. 24/2012/ND-CP of April 03, 2012, on gold business activities
- 6 Decree No. 40/2012/ND-CP of May 2, 2012, on the issuance of money, the preservation and transport of valuable property and valuable papers in the system of the State Bank, branches of foreign banks and credit institutions
- 7 Decree No. 101/2012/ND-CP of November 22, 2012, non-cash payments
- 8 Circular No. 21/2013/TT-NHNN of September 09, 2013, providing for the operational network of commercial banks
- 9 Decree No. 39/2014/ND-CP dated May 07, 2014, on operation of financial company and financial leasing company
- 10 Circular No. 21/2014/TT-NHNN dated August 14, 2014, providing guidance on scope of foreign exchange transactions, requirements and procedures for permitting foreign exchange transactions of credit institutions, branches of foreign banks
- 11 Circular No. 30/2015/TT-NHNN dated December 25, 2015, regulations on issuance of licenses, organization and operation of non-bank credit institutions
- 12 Decree No. 135/2015/ND-CP dated 31st December 2015, regulation on outward portfolio investments
- 13 Decree No. 69/2016/ND-CP dated July 01, 2016, requirements for running debt trading service
- 14 Decree No. 80/2016/ND-CP date July 1, 2016, on amendments to Government''s Decree No. 101/2012/ND-CP on non-cash payments
- 15 Decree No. 89/2016/ND-CP date July 1, 2016, on requirements applicable to business entities acting as currency exchange agents or providing foreign currency receipt and payment services
- 16 Decree No. 57/2016/ND-CP dated July 1, 2016, amending and supplementing Article 7 of the Government’s Decree No. 10/2010/ND-CP on credit information-related activities
- 17 Circular No. 15/2016/TT-NHNN dated June 30, 2016,
- 18 Circular No. 28/2016/TT-NHNN dated October 05, 2016,
- 19 Circular No. 04/2015/TT-NHNN dated March 31, 2015, on people’s credit funds
- 20 Resolution No. 19-2018/NQ-CP dated May 15, 2018
- 21 Law No. 22/2008/QH12 of November 13, 2008, on cadres and civil servants
- 22 Law No. 47/2010/QH12 of June 16, 2010, on credit institutions
- 23 Cooperative Law No. 23/2012/QH13 of November 20, 2012
- 24 Decree No. 130/2013/ND-CP of October 16, 2013, on the production and provision of public-utility products and services
- 25 Law No. 68/2014/QH13 dated November 26, 2014, on enterprises
| THE STATE BANK OF VIETNAM | SOCIALIST REPUBLIC OF VIETNAM |
| No. 1417/QD-NHNN | Hanoi, July 9, 2018 |
DECISION
ON APPROVAL FOR PLAN TO SIMPLIFY BUSINESS CONDITIONS UNDER MANAGEMENT OF THE STATE BANK OF VIETNAM
GOVERNOR OF THE STATE BANK
- Pursuant to Government's Decree No. 16/2017/ND-CP dated February 17, 2017 defining the functions, tasks, entitlements and organizational structure of the State bank of Vietnam;
- Pursuant to Resolution No. 01/NQ-CP dated January 1, 2018 on objectives and primary courses of action to implement socio-economic development plan and state budget estimates 2018;
- Pursuant to Resolution No. 19-2018/NQ-CP dated May 15, 2018 on improvement of economic environment and enhancement of national competitiveness;
- Pursuant to Dispatch No. 174/TTg-KSTT dated February 2, 2018 of the Prime Minister on reform of inspection by specialized agency and business conditions;
At the request of the Chief Office of the State Bank and Director of the Legal Department,
...
...
...
Article 1. Approve the plan to simplify business conditions and the appendix of documents to be amended enclosed with this Decision.
Article 2. Engage the following entities to implement the plan to simplify business conditions as follows:
a) With regard to plans to simplify business conditions prescribed in Decrees and Circulars of the State Bank which are amended or replaced (planned to be presented to the Government or the Governor for promulgation in quarter III of 2018), centralized units in charge of drafting shall draft documents based on the plan approved in this Decision.
b) With regard to the plan to simplify business conditions in conjunction with credit institution rating, the Bank Supervision and Inspection Agency shall draft relevant legislative documents based on the plan approved in this Decision after the Circular on rating of credit institutions, branches of foreign banks is promulgated.
c) With regard to a plan to simplify business conditions not falling under above cases, the Legal Department is authorized to act as a centralized unit to formulate one Decree and one Circular to amend multiple documents so as to implement the plan to simplify business conditions. The time limit for submitting the Decree to the Government or the Circular to the State Bank for promulgation shall be specified by the Government and the Prime Minister.
d) In the course of formulating the Decree or Circular to implement the plan to simplify business conditions referred to in this Decision, relevant entities shall keep reviewing and proposing amendments to regulations on simplifying business in accordance with management and reality of law formulation at the time of drafting documents.
Article 3. This Decision comes into force on the date of its signature.
Article 4. The Chief officers, Director of the Legal Department and Heads of affiliates of the State bank, and relevant units shall implement this Decision./.
...
...
...
PP. GOVERNOR
DEPUTY GOVERNOR
Dao Minh Tu
PLAN
TO REDUCE AND SIMPLIFY BUSINESS CONDITIONS UNDER MANAGEMENT OF THE STATE BANK
(Issued together with Decision No. 1417/QD-NHNN dated July 9, 2018)
No.
Business conditions
Legal basis
Annulment and amendment plan
Enforcement plan
...
...
...
I.
Business of commercial banks
I.1
Conditions for granting establishment and operation licenses to joint-stock commercial banks
...
...
...
Conditions applicable to a founding shareholder (1-16)
1.
...
...
...
Point a Clause 2 Article 9 of Circular No. 40/2011/TT-NHNN dated December 15, 2011
repeal this condition
repeal Point a Clause 2 Article 9 of Circular No. 40/2011/TT-NHNN dated December 15, 2011
2.
Make commitment in providing financial support to the joint-stock commercial bank to deal with difficulties in case the joint-stock commercial bank faces with problems in capital or liquidity;
repeal Point b Clause 2 Article 9 of Circular No. 40/2011/TT-NHNN
repeal this condition
repeal Point b Clause 2 Article 9 of Circular No. 40/2011/TT-NHNN dated December 15, 2011
...
...
...
3.
Not be a founding shareholder, owner, founding member, strategic shareholder of another credit institution;
Point c Clause 2 Article 9 of Circular No. 40/2011/TT-NHNN
4.
Have at least 02 founding shareholders who are corporate;
Point d Clause 2 Article 9 of Circular No. 40/2011/TT-NHNN
...
...
...
repeal Point d Clause 2 Article 9 of Circular No. 40/2011/TT-NHNN dated December 15, 2011
5.
Within a period of 05 years since the grant of License, founding shareholders shall be required altogether to hold at least 50% of the charter capital upon the establishment of a joint-stock commercial bank, of which the corporate founding shareholders are required altogether to hold at least 50% of the total number of shares of founding shareholders;
Point dd Clause 2 Article 9 of Circular No. 40/2011/TT-NHNN
- Amend this condition as follows: “Founding shareholders shall be required altogether to hold at least 50% of the charter capital upon the establishment of a joint-stock commercial bank, of which the corporate founding shareholders are required altogether to hold at least 50% of the total number of shares of founding shareholders”
Amend Point dd Clause 2 Article 9 of Circular No. 40/2011/TT-NHNN dated December 15, 2011
...
...
...
6.
Have Vietnamese nationality, to have full civil act capacity in accordance with provisions of applicable law;
Point e Clause 2 Article 9 of Circular No. 40/2011/TT-NHNN
Amend this condition as follows: “Have Vietnamese nationality”
Amend the first dash Point e Clause 2 Article 9 of Circular No. 40/2011/TT-NHNN dated December 15, 2011
...
...
...
7.
Not be a prohibited subject in accordance with provisions of the Law on Enterprises;
Point e Clause 2 Article 9 of Circular No. 40/2011/TT-NHNN
8.
Have financial capacity to contribute capital to the establishment of a joint-stock commercial bank; not be allowed to use trusted capital, capital borrowed from other organizations, individuals for capital contribution;
Point e Clause 2 Article 9 of Circular No. 40/2011/TT-NHNN
...
...
...
Amend Point e Clause 2 Article 9 of Circular No. 40/2011/TT-NHNN dated December 15, 2011
9.
Be the manager of an enterprise whose business is profitable in at least 03 consecutive years prior to the year of applying for the License issuance or to have a university qualification or higher in economics or law profession.
Point e Clause 2 Article 9 of Circular No. 40/2011/TT-NHNN
...
...
...
10.
Be established in accordance with Vietnamese law;
Point g Clause 2 Article 9 of Circular No. 40/2011/TT-NHNN
...
...
...
11.
Have sufficient financial capacity for capital contribution to the establishment of a joint-stock commercial bank and to commit not to use trusted fund, mobilized capital, capital borrowed from other organizations, individuals to make capital contribution;
Point g Clause 2 Article 9 of Circular No. 40/2011/TT-NHNN
Amend this condition as follows: “Not be allowed to use mobilized capital, loans from other entities for capital contribution"
Amend Point g Clause 2 Article 9 of Circular No. 40/2011/TT-NHNN dated December 15, 2011
12.
Fully perform the obligations of taxes, social insurance in accordance with regulations as of the time of applying for License issuance;
Point g Clause 2 Article 9 of Circular No. 40/2011/TT-NHNN
...
...
...
13.
The owner capital must be at least VND 500 billion in 05 consecutive years prior to the year of applying for the License;
Point g Clause 2 Article 9 of Circular No. 40/2011/TT-NHNN
14.
...
...
...
Point g Clause 2 Article 9 of Circular No. 40/2011/TT-NHNN
15.
In case where the enterprise dealing in the business that requires legal capital, there must be a guarantee that the owner capital minus the legal capital equals to committed contributed capital at the minimum basing on the figures in the audited financial report of the year preceding to the year of applying for the License;
- For the case of a state-owned enterprise, it must obtain a written approval to the participation in capital contribution to the establishment of a joint-stock commercial bank as provided for by applicable laws;
- For the case of an organization that is granted with a License for the establishment and operation in banking, securities, insurance field, it is obliged to contribute capital in accordance with provisions of applicable laws;
Point g Clause 2 Article 9 of Circular No. 40/2011/TT-NHNN
...
...
...
16.
For the case of a commercial bank:
+ The total assets must be VND 100,000 billion at the minimum, to fully comply with regulations on risk management and making provision in accordance with regulations at the time of applying for the License and as of the issuance of the License;
+ Not to break the prudential ratios in banking activities as provided for by the State Bank in 05 consecutive years before to the year of applying for the License and as of the issuance of the License;
+ Observe conditions, the limit on purchase, holding of shares of a credit institution as provided for in paragraph 6 Article 103 of the Law on credit institutions;
+ Observe the minimum capital adequacy ratio when contributing capital to the establishment of a joint-stock commercial bank.
Point g Clause 2 Article 9 of Circular No. 40/2011/TT-NHNN
...
...
...
1.2.
Establishment of branches in country of commercial bank (17-34)
For commercial banks with operational duration of 12 months or more (counted from the date of starting activities till the time of request):
17.
...
...
...
Point a Clause 1 Article 6 of Circular No. 21/2013/TT-NHNN
- Amend these conditions as follows:
a) Regarding rated commercial banks:
(1) According to rating of credit institutions.
(2) If rating criteria specified in the Circular draft fails to meet state management requirements in licensing money transfer companies, these conditions shall be amended further.
b) Regarding commercial banks not eligible for rating, regulations of law in force shall apply)
Amend Clause 1 Article 6 of Circular No. 21/2013/TT-NHNN (after issuance of Circular on rating of credit institutions).
18.
...
...
...
Point b Clause 1 Article 6 of Circular No. 21/2013/TT-NHNN
19.
Comply with limitations to ensure safety in operation of credit institutions specified in Articles 126, 127, 128, 129; Clause 1 Article 130 and Article 135 of law on credit institutions and guides of state bank for this provision uninterruptedly during 12 months before the request month;
Point c Clause 1 Article 6 of Circular No. 21/2013/TT-NHNN
20.
Conduct properly and fully provisions on classification of debts, setting up of risk provision in accordance with provision of state bank; the rate of bad debts in comparison with the total outstanding balance at time of December 31 of the previous year adjacent to the request year does not exceed 3% or other rate under decision of the Governor of State bank in each period;
Point d Clause 1 Article 6 of Circular No. 21/2013/TT-NHNN
...
...
...
21.
At the time of request, Board of Directors, Member assembly, and control board have quantity and structure in accordance with provisions of law, are not lacked General Director;
Point dd Clause 1 Article 6 of Circular No. 21/2013/TT-NHNN
22.
At the time of request, the commercial bank has internal auditing division and internal control system ensuring compliance with Article 41 Article 41 of Law on credit institutions and relevant provisions of current law;
Point e Clause 1 Article 6 of Circular No. 21/2013/TT-NHNN
23.
...
...
...
Point g Clause 1 Article 6 of Circular No. 21/2013/TT-NHNN
24.
Meet conditions about quantity of branches permitted to establish as prescribed in Article 7 of this Circular;
(1) Quantity of branches of a commercial bank permitted to establish must ensure: VND 300 billion x N1 + VND 50 billion x N2 < C
In which:
- C means the real value of the charter capital of commercial bank till the time of request (counted by billion VND).
...
...
...
- N2 means quantity of branches which have been established and request for establishment at Hanoi suburban, Ho Chi Minh suburban; and other provinces and centrally-run cities.
(2) A commercial bank is entitled to establish 10 branches at each Hanoi urban area or Ho Chi Minh urban area at maximally.
(3) For commercial banks with operational duration of 12 months or more (counted from the date of starting activities till the time of request), they are permitted to establish not exceeding five (05) branches in one (01) financial year.
(4) When a commercial bank terminate operation of branches at Hanoi urban area, Ho Chi Minh urban area, it is permitted to establish branches in localities of other provinces and centrally-run cities with quantity corresponding to quantity of branches terminated operation, apart from the maximum quantity of branches permitted to establish in one (01) year specified in Clause (3).
Point h Clause 1 Article 6 of Circular No. 21/2013/TT-NHNN
25.
...
...
...
Point i Clause 1 Article 6 of Circular No. 21/2013/TT-NHNN
repeal this condition
Repeal Point i Clause 1 Article 6 of Circular No. 21/2013/TT-NHNN
For commercial banks with operational duration of less than 12 months (counted from the date of starting activities till the time of request), apart from conditions prescribed in Points dd, e, g, h, I Clause 1 Article 6 of Circular No. 21/2013/TT-NHNN, the following conditions must be satisfied:
26.
The real value of charter capital at time of request is not lower than the legal capital;
...
...
...
27.
The business operation has interest till the time of request;
Point b Clause 2 Article 6 of Circular No. 21/2013/TT-NHNN
...
...
...
Comply with limitations to ensure safety in operation of credit institutions specified in Articles 126, 127, 128, 129; Clause 1 Article 130 and Article 135 of law on credit institutions and guides of state bank for this provision uninterruptedly from the day of starting activities till the time of request;
Point c Clause 2 Article 6 of Circular No. 21/2013/TT-NHNN
29.
Conduct properly and fully provisions on classification of debts, setting up of risk provision in accordance with provision of state bank; the rate of bad debts in comparison with the total outstanding balance at time of request does not exceed 3% or other rate under decision of the Governor of State bank in each period;
Point d Clause 2 Article 6 of Circular No. 21/2013/TT-NHNN
...
...
...
Conditions for establishment of transaction offices, apart from conditions prescribed in Clause 1 Article 6 of Circular No. 21/2013/TT-NHNN
30.
The tentative branch managing transaction office must meet conditions:
a) The minimum operational duration is 12 months counted from the date of starting activities till the time of request;
b) The rate of bad debts in comparison with the total outstanding balance at time of December 31 of the previous year adjacent to the request year does not exceed 3% or other rate under decision of the Governor of State bank in each period;
c) Not be sanctioned administrative violations in monetary and banking sector by form of fine during 12 months before the time of request.
...
...
...
31.
Meet conditions about quantity of transaction offices permitted to establish as prescribed in Article 11 of this Circular.
1. Quantity of transaction offices of a commercial bank at Hanoi urban area and Ho Chi Minh urban area do not exceed twice quantity of its existing branches at each area.
2. Quantity of transaction offices of a commercial bank at Hanoi suburban, Ho Chi Minh suburban and in provinces and centrally-run cities do not exceed three times quantity of its existing branches at each area.
3. Commercial banks may decide quantity of transaction offices managed by one branch in line with the management capability of each branch and provisions in Clauses 1, 2 Article 11 of Circular No. 21/2013/TT-NHNN.
Clause 3 Article 10 of Circular No. 21/2013/TT-NHNN
...
...
...
Conditions for establishment of branches in foreign countries, banks invested 100% of capital in foreign countries, apart from conditions prescribed in Clause 1 Article 6 of Circular No. 21/2013/TT-NHNN (except for Point b, h Clause 1 Article 6):
32.
The minimum operational duration is three (03) years counted from the date of starting activities till the time of request.
Clause 2 Article 8 of Circular No. 21/2013/TT-NHNN
...
...
...
33.
The total assets reach VND 100,000 billion business or more according to the audited consolidated financial statement at time of December 31 of the previous year adjacent to the request year.
Clause 3 Article 8 of Circular No. 21/2013/TT-NHNN
34.
The business operation has interest under the audited consolidated financial statement and separate financial statements of the previous year adjacent to the request year;
...
...
...
I.3
Conditions for establishment of representative offices, non-business units in country and representative offices in foreign countries
Conditions applicable to a founding member, owner as a foreign credit institutions (35-41)
...
...
...
Not to seriously violate provisions on banking activities and other provisions of applicable laws of its native country within 05 latest consecutive years prior to the year applying for the license till the issuance of the license;
Point a Clause 2 Article 10 of Circular No. 40/2011/TT-NHNN
36.
Have experience in international operation, is rated from average and stable upwards by international credit rating organizations, can prove the ability to perform financial commitments and operate normally even when economic situation, condition faces adverse changes;
Point b Clause 2 Article 10 of Circular No. 40/2011/TT-NHNN
...
...
...
37.
Be profitable in the 05 consecutive years preceding the year of applying for the License and as of the time of obtaining the License;
Point c Clause 2 Article 10 of Circular No. 40/2011/TT-NHNN
38.
The total assets must be approximately USD 10 billion at the end of the year preceding the year of applying for the license;
...
...
...
39.
Be assessed by a competent agency of the native country in respect of the capital adequacy ratio, other prudential ratios, to fully comply with regulations on risk management and making provision as provide for by the native country in the year before the year of applying for the license till the issuance of license;
Point dd Clause 2 Article 10 of Circular No. 40/2011/TT-NHNN
...
...
...
Not to be the owner, founding member, strategic shareholder of another Vietnamese credit institution.
Point e Clause 2 Article 10 of Circular No. 40/2011/TT-NHNN
41.
Within a period of 05 years since the issuance of the License, founding members shall be required altogether to hold 100% of the charter capital of a joint-venture bank, 100% foreign owned bank.
Clause 4 Article 10 of Circular No. 40/2011/TT-NHNN
...
...
...
I.4
Conditions for issuance of establishment license to a foreign bank’s branch in Vietnam
Conditions applicable to a parent bank (42-43)
...
...
...
42.
Fully satisfy conditions as provided for at points a, b, c, dd paragraph 2 Article 10 of Circular 40/2011/TT-NHNN
Point a Clause 2 Article 11 of Circular No. 40/2011/TT-NHNN
43.
Total assets of parent bank as of the year consecutively preceding the year of applying for the license are at least equal to USD 20 billion.
Point b Clause 2 Article 11 of Circular No. 40/2011/TT-NHNN
...
...
...
I.5
Conditions for approving establishing, acquisition of subsidiary companies, associate companies of commercial banks
Conditions for establishment of a money transfer company affiliated to a joint-stock commercial bank (44-49)
44.
...
...
...
Clause 1 Article 3 Regulation on establishment and operation of money transfer companies affiliated to joint-stock commercial banks of the state and the people issued together with Decision No. 951/2003/QD-NHNN dated August 18, 2003 of the Governor of the State Bank (hereinafter referred to as Regulation No. 951)
45.
It has had sound financial position and gained profits for 2 last years, and overdue outstanding debt of less than 3%;
Clause 2 Article 3 of Regulation No. 951
- Simplify these conditions as follows:
(1) The establishment of a money transfer company affiliated to a joint-stock commercial bank shall be based on the rating of the credit institution (the State Bank has drafted a Circular on credit institution rating).
...
...
...
Promulgate a Circular No. in replacement of Decision No. 951/2003/QD-NHNN dated August 18, 2003 of the Governor of the State Bank (after promulgating a Circular on credit institution rating).
46.
The administration board and internal inspection system run in an effective manner;
Clause 3 Article 3 of Regulation No. 951
47.
Do not violate regulations on adequacy ratio in banking operation and other laws and regulations, incur no penalty for administrative violations in monetary sector and banking operation for at least 1 year until the time when the bank applies for establishment of affiliated money transfer company;
Clause 5 Article 3 of Regulation No. 951
...
...
...
48.
The information system meets management requirements;
Clause 4 Article 3 of Regulation No. 951
49.
Allowed to perform foreign currency transactions by the State Bank
Clause 6 Article 3 of Regulation No. 951
...
...
...
Conditions for the establishment of assets management companies of commercial banks (50-51)
50.
Having operated for at least 3 years since the date of operation commencement;
Clause 1 Article 3 of Regulation on the establishment of asset management companies under commercial banks issued together with Decision No. 1389/2001/QD-NHNN dated November 7, 2001 of the Governor of the State Bank (hereinafter referred to as Regulation 1389)
...
...
...
Having demand for the establishment of asset management companies.
Clause 2 Article 3 of Decision No. 1389/2001/QD-NHNN
repeal this condition
Promulgate Circular in replacement of Decision No. 1389/2001/QD-NHNN dated November 7, 2001 of the Governor of the State Bank
Conditions for establishment of a securities company of commercial bank (52-57)
52.
...
...
...
Clause 1 Section 1 Chapter 2 of Circular No. 04/1999/TT-NHNN5
53.
It has gained profits and had overdue outstanding debt of less than 5% of total loans
Clause 2 Section 1 Chapter 2 of Circular No. 04/1999/TT-NHNN5
Simplify these conditions as follows:
(1) The establishment of a securities company affiliated to a commercial bank shall be based on the rating of the credit institution (the State Bank has drafted a Circular on credit institution rating).
...
...
...
Promulgate a Circular in replacement of Circular No. 04/1999/TT-NHNN5 dated November 2, 1999 of the Governor of the State Bank on guidelines for establishment of securities companies of commercial banks (after promulgating a Circular on credit institution rating).
54.
The administration board and internal inspection system run in an effective manner;
Clause 3 Section 1 Chapter 2 of Circular No. 04/1999/TT-NHNN5
55.
Do not violate regulations on adequacy ratio in banking operation and other regulations and laws.
Clause 4 Section 1 Chapter 2 of Circular No. 04/1999/TT-NHNN5
...
...
...
56.
Have a charter capital not less than legal capital as per the law.
Clause 5 Section 1 Chapter 2 of Circular No. 04/1999/TT-NHNN5
57.
Have adequate facilities for securities trading.
Clause 6 Section 1 Chapter 2 of Circular No. 04/1999/TT-NHNN5
...
...
...
I.6
58.
Clause 1, Article 8 of Circular No. 21/2014/TT-NHNN (amended by Circular No. 28/2016/TT-NHNN)
...
...
...
59.
There are internal rules on professional procedures and risk management process applied to each foreign exchange transaction conducted on demand.
Clause 2, Article 8 of Circular No. 21/2014/TT-NHNN (amended by Circular No. 28/2016/TT-NHNN)
...
...
...
60.
Fully satisfy conditions as provided for at Article 8 of Circular No. 21/2014/TT-NHNN (39-40)
Clause 1, Article 9 of Circular No. 21/2014/TT-NHNN (amended by Circular No. 28/2016/TT-NHNN)
61.
There are internal rules for selecting partners and appropriate transaction limits applied to each of the partners, the partners with whom the permitted credit institution enters into foreign exchange transactions (other than payment deposits) must be overseas financial institutions that are rated Baa3/P-3 or above by Moody’s Investor Service, BBB-/A-3 or above by Standard & Poor’s, or BBB-/F3 or above by Fitch Ratings.
...
...
...
62.
Conditions prescribed in Clause 2 Article 9 do not apply to the case that the commercial bank make deposits (other than current deposit) at branches, subsidiary companies of the commercial bank abroad. Total deposit balance of a commercial bank at all branches, subsidiary companies of the commercial bank abroad not exceeding 10% of charter capital.
Clause 3, Article 9 of Circular No. 21/2014/TT-NHNN (amended by Circular No. 28/2016/TT-NHNN)
...
...
...
Conditions for conducting other foreign exchange transactions on the domestic and international market (63-68)
63.
Some of or all of elementary foreign exchange transactions on the domestic or international market are permitted;
Point a Clause 1, Article 10 of Circular No. 21/2014/TT-NHNN (amended by Circular No. 28/2016/TT-NHNN)
64.
...
...
...
Point b Clause 1, Article 10 of Circular No. 21/2014/TT-NHNN (amended by Circular No. 28/2016/TT-NHNN)
65.
There are internal rules for selecting partner organization, appropriate transaction limits applied to each of partners;
Point c Clause 1, Article 10 of Circular No. 21/2014/TT-NHNN (amended by Circular No. 28/2016/TT-NHNN)
...
...
...
66.
Regulations on banking prudential ratios must be complied with in the year preceding the year in which the permit is applied for and up to the time of submitting the application;
Point d Clause 1, Article 10 of Circular No. 21/2014/TT-NHNN (amended by Circular No. 28/2016/TT-NHNN)
67.
There is no penalties for administrative violations against regulations on foreign exchange transactions in the year preceding the year in which the permit is applied for and up to the time of submitting the application;
Point dd Clause 1, Article 10 of Circular No. 21/2014/TT-NHNN (amended by Circular No. 28/2016/TT-NHNN)
...
...
...
68.
The business operation of the commercial banks has been profitable for 02 (two) years preceding the year in which the permit is applied for according to audited financial statement.
Point e Clause 1, Article 10 of Circular No. 21/2014/TT-NHNN (amended by Circular No. 28/2016/TT-NHNN)
...
...
...
69.
The permit with limited duration is issued by the State bank;
Point a Clause 2, Article 10 of Circular No. 21/2014/TT-NHNN (amended by Circular No. 28/2016/TT-NHNN)
repeal this condition
Amend Point a Clause 2 Article 10 of Circular No. 21/2014/TT-NHNN
70.
No penalties for administrative violations on foreign exchange transactions are incurred while conducting foreign exchange transactions with limited duration;
...
...
...
71.
Regulations on banking prudential ratios are complied with in the year preceding the year in which permit extension is applied for and up to the time of submitting the application extension;
Point c Clause 2, Article 10 of Circular No. 21/2014/TT-NHNN (amended by Circular No. 28/2016/TT-NHNN)
...
...
...
The business operation of the commercial banks has been profitable for 2 years preceding the year in which permit extension is applied for according to audited financial statement.
Point d Clause 2, Article 10 of Circular No. 21/2014/TT-NHNN (amended by Circular No. 28/2016/TT-NHNN)
Conditions for written certification of registration of trusteeship for outward portfolio investment if trust organizations are commercial banks (73-77)
73.
...
...
...
Point b, Clause 2, Article 23, Section II of Decree No. 135/2015/ND-CP
Amend this condition as follows: adjust from 05 consecutive years to 03 consecutive years.
Amend Point b, Clause 2, Article 23, Section II of Decree No. 135/2015/ND-CP
74.
Fulfill all financial duties for the Government and incur no tax debts against the government's treasury;
Point c, Clause 2, Article 23, Section II of Decree No. 135/2015/ND-CP
...
...
...
75.
Have internal regulations on the management of the activities of holding trusteeship for outward portfolio investments, including the identification and management of risks related to the holding of trusteeship for outward portfolio investments;
Point d, Clause 2, Article 23, Section II of Decree No. 135/2015/ND-CP
76.
Have facilities, techniques and human resources to guarantee the holding of trusteeship for outward portfolio investments according to the laws;
Point dd, Clause 2, Article 23, Section II of Decree No. 135/2015/ND-CP
...
...
...
Repeal Point dd, Clause 2, Article 23, Section II of Decree No. 135/2015/ND-CP
77.
Conform to the effective regulations of specialized laws on financial safety norms and safety guaranteeing ratio for the activities of trust organizations.
Point e, Clause 2, Article 23, Section II of Decree No. 135/2015/ND-CP
...
...
...
78.
Have permission to conduct foreign exchange activities in international markets;
Point a, Clause 4, Article 14 of Decree No. 135/2015/ND-CP
79.
Gain profit in 05 consecutive years preceding the year when the application for the certificate of outward portfolio investment registration is submitted. Such profit shall be shown in audited financial statements that bear only essential remarks according to the regulations of Ministry of Finance. Financial statements must be audited by independent auditing organizations not defined in Vietnam State Bank’s list of auditing organizations ineligible for auditing credit institutions and foreign banks' branches;
...
...
...
Amend this condition as follows: adjust from 05 consecutive years to 03 consecutive years.
Amend Point b, Clause 4, Article 14 of Decree No. 135/2015/ND-CP
80.
Fulfill all financial duties for the Government and incur no tax debts against the government's treasury;
Point c, Clause 4, Article 14 of Decree No. 135/2015/ND-CP
...
...
...
Have internal procedures and systems for internal control, audit, risk identification and management related to the proprietary trading of outward portfolio investment;
Point d, Clause 4, Article 14 of Decree No. 135/2015/ND-CP
82.
Have facilities, techniques and human resources to guarantee the proprietary trading of outward portfolio investments according to the laws;
Point dd, Clause 4, Article 14 of Decree No. 135/2015/ND-CP
repeal this condition
...
...
...
83.
Conform to the effective regulations of Vietnam State Bank on limits and safety guaranteeing ratios in the sector of banking;
Point e, Clause 4, Article 14 of Decree No. 135/2015/ND-CP
84.
Abide by the laws on the management and use of state capitals (for commercial banks and general financial companies with state-owned capital).
...
...
...
repeal this condition
Repeal Point g, Clause 4, Article 14 of Decree No. 135/2015/ND-CP
II
Business of non-bank credit institutions
II.1
Conditions for licensing joint stock non-bank credit institutions
...
...
...
Regulations applicable to founding shareholders (85-89)
85.
At least two founding shareholders as organizations;
Clause 1 Article 11 of Circular No. 30/2015/TT-NHNN (amended by Clause 2 Article 1 of Circular No. 15/2016/TT-NHNN)
repeal this condition
...
...
...
86.
Be responsible for legality of contributed capital;
Clause 2 Article 11 of Circular No. 30/2015/TT-NHNN (amended by Clause 2 Article 1 of Circular No. 15/2016/TT-NHNN)
repeal this condition
Repeal Clause 2 Article 11 of Circular No. 30/2015/TT-NHNN (amended by Clause 2 Article 1 of Circular No. 15/2016/TT-NHNN)
87.
Undertake to provide financial support to non-bank credit institutions for difficulties in capital, solvency and liquidity
...
...
...
repeal this condition
Repeal Clause 3 Article 11 of Circular No. 30/2015/TT-NHNN (amended by Clause 2 Article 1 of Circular No. 15/2016/TT-NHNN)
88.
Do not join other credit institutions established and operating in Vietnam as a strategic shareholder, founding shareholder, owner or founding member
Clause 4 Article 11 of Circular No. 30/2015/TT-NHNN (amended by Clause 2 Article 1 of Circular No. 15/2016/TT-NHNN)
...
...
...
Secure sufficient financial resources in order to establish non-bank credit institutions; do not use capital in trust, raised capital or loans provided by foreign credit institutions, branches of foreign banks, other organizations or individuals as contributed capital
Clause 5 Article 11 of Circular No. 30/2015/TT-NHNN (amended by Clause 2 Article 1 of Circular No. 15/2016/TT-NHNN)
Amend this condition as follows: “Not allowed to used mobile capital, loans from other entities for capital contribution”
Amend Clause 5 Article 11 of Circular No. 30/2015/TT-NHNN (amended by Clause 2 Article 1 of Circular No. 15/2016/TT-NHNN)
Other conditions applicable to founding shareholders as individuals (90-91)
90.
...
...
...
Point a Clause 6 Article 11 of Circular No. 30/2015/TT-NHNN (amended by Clause 2 Article 1 of Circular No. 15/2016/TT-NHNN)
Amend this condition as follows: “Be a Vietnamese citizen”.
Amend Point a Clause 6 Article 11 of Circular No. 30/2015/TT-NHNN (amended by Clause 2 Article 1 of Circular No. 15/2016/TT-NHNN)
91.
Not banned from establishing enterprises according to the Law on Enterprises, the Law on Cadres and Civil Servants
Point b Clause 6 Article 11 of Circular No. 30/2015/TT-NHNN (amended by Clause 2 Article 1 of Circular No. 15/2016/TT-NHNN)
...
...
...
Other conditions applicable to founding shareholders as organizations (92-96)
92.
Established under laws of Vietnam
Point a Clause 7 Article 11 of Circular No. 30/2015/TT-NHNN (amended by Clause 2 Article 1 of Circular No. 15/2016/TT-NHNN)
...
...
...
Have a profitable business for three straight years preceding the year of submission of applications for the license
Point b Clause 7 Article 11 of Circular No. 30/2015/TT-NHNN (amended by Clause 2 Article 1 of Circular No. 15/2016/TT-NHNN)
94.
Have fulfilled its tax and social insurance obligations as prescribed to the time of submission of applications for the license
Point c Clause 7 Article 11 of Circular No. 30/2015/TT-NHNN (amended by Clause 2 Article 1 of Circular No. 15/2016/TT-NHNN)
...
...
...
95.
For organizations as Vietnamese enterprises (except Vietnamese commercial banks):
- Have at least VND 500 billion in owner’s equity, at least VND 1,000 billion in total assets for three straight years preceding the year in which the application for the license is submitted. For enterprises operating in the areas requiring a certain level of legal capital, ensure that the amount remaining after the legal capital is subtracted from the owner’s equity according to the audited financial statement of the year preceding the time the application is submitted is not smaller than the promised capital contribution.
- For enterprises licensed to operate in the areas of securities, insurance, the contribution of capital must be compliant with relevant law provisions.
Point d Clause 7 Article 11 of Circular No. 30/2015/TT-NHNN (amended by Clause 2 Article 1 of Circular No. 15/2016/TT-NHNN)
...
...
...
For Vietnamese commercial banks:
- Have at least VND 100,000 billion in total assets; comply fully with regulations on risk management and establishment of provisions at the time of submission of applications for licensing;
- Do not violate minimum safety limits, ratios for transactions according to regulations of the State Bank in the year preceding the year of submission of applications for licensing and to the time of submission of supplements for consideration and issuance of licenses;
- Ensure minimum capital adequacy ratio after contributing capital for establishment of non-bank credit institutions;
- Not penalized for administrative violations against regulations in currencies and banking for two straight years preceding the year of submission of applications for licensing and to the time of submission of supplements for consideration and issuance of licenses.
Point dd Clause 7 Article 11 of Circular No. 30/2015/TT-NHNN (amended by Clause 2 Article 1 of Circular No. 15/2016/TT-NHNN)
...
...
...
Conditions for licensing limited liability non-bank credit institutions
For founding members as Vietnamese enterprises (except Vietnamese commercial banks) (97-98)
97.
Requirements as prescribed in Points b, c, d, dd, g(i), g(iii), Clause 2, Article 11 of Circular No. 30/2015/TT-NHNN dated December 25, 2015
Point a Clause 1 Article 12 of Circular No. 30/2015/TT-NHNN (amended by Clause 3 Article 1 of Circular No. 15/2016/TT-NHNN)
...
...
...
98.
Have at least VND 1.000 billion in owner’s equity, at least VND 2,000 billion in total assets for three straight years preceding the year in which the application for the license is submitted. For enterprises operating in the areas requiring a certain level of legal capital, ensure that the amount remaining after the legal capital is subtracted from the owner’s equity according to the audited financial statement of the year preceding the time the application is submitted is not smaller than the promised capital contribution;
Point b Clause 1 Article 12 of Circular No. 30/2015/TT-NHNN (amended by Clause 3 Article 1 of Circular No. 15/2016/TT-NHNN)
99.
For enterprises licensed to operate in the areas of securities, insurance, the contribution of capital must be compliant with relevant law provisions.
...
...
...
100.
Owners, founding members of Vietnamese commercial banks shall comply with Clauses 2, 3, 4, 5 and Points b, c, dd Clause 7 Article 11 of Circular No. 30/2015/TT-NHNN dated December 25, 2015.
Clause 2 Article 12 of Circular No. 30/2015/TT-NHNN (amended by Clause 3 Article 1 of Circular No. 15/2016/TT-NHNN)
...
...
...
For owners, founding members as foreign credit institutions (101-108)
101.
Requirements as prescribed in Points b, Clause 7, Article 11 of Circular No. 30/2015/TT-NHNN dated December 25, 2015
Point a Clause 3 Article 12 of Circular No. 30/2015/TT-NHNN (amended by Clause 3 Article 1 of Circular No. 15/2016/TT-NHNN)
102.
...
...
...
Point b Clause 3 Article 12 of Circular No. 30/2015/TT-NHNN (amended by Clause 3 Article 1 of Circular No. 15/2016/TT-NHNN)
103.
Do not seriously violate regulations on banking activities and other provisions of the home country for five straight years preceding the year of submission of applications for licensing and to the time of submission of supplements for consideration and issuance of licenses
Point c Clause 3 Article 12 of Circular No. 30/2015/TT-NHNN (amended by Clause 3 Article 1 of Circular No. 15/2016/TT-NHNN)
...
...
...
104.
Have experience of international activities, rated by international credit rating agencies as capable for ensuring financial commitments and normal operation even though economic situations and conditions change for the worse
Point d Clause 3 Article 12 of Circular No. 30/2015/TT-NHNN (amended by Clause 3 Article 1 of Circular No. 15/2016/TT-NHNN)
105.
Rated by competent agencies of the home country as capable of ensuring capital adequacy ratio, other safety ratios, comply fully with regulations on risk management and establishment of provisions as prescribed by the home country in the year preceding the year of submission of applications for licensing and to the time of submission of supplements for consideration and issuance of licenses
Point dd Clause 3 Article 12 of Circular No. 30/2015/TT-NHNN (amended by Clause 3 Article 1 of Circular No. 15/2016/TT-NHNN)
...
...
...
106.
Not being strategic shareholders, owners or founding members of other credit institutions established and operating in Vietnam
Point e Clause 3 Article 12 of Circular No. 30/2015/TT-NHNN (amended by Clause 2 Article 1 of Circular No. 15/2016/TT-NHNN)
107.
...
...
...
Point g Clause 3 Article 12 of Circular No. 30/2015/TT-NHNN (amended by Clause 2 Article 1 of Circular No. 15/2016/TT-NHNN)
108.
Within five years since receipt of the license, owners and founding members shall together own 100% of charter capital of non-bank credit institutions as limited liability companies.
Clause 4 Article 12 of Circular No. 30/2015/TT-NHNN (amended by Clause 3 Article 1 of Circular No. 15/2016/TT-NHNN)
...
...
...
II.3
The general conditions for a financial company to conduct banking operations (109-112)
109.
Its banking operations are indicated in its establishment and operation license granted by the State Bank (below referred to as the license).
Clause 1 Article 5 of Decree No. 39/2014/ND-CP dated May 7, 2014
repeal this condition
Repeal Clause 1, Article 5 of Decree No. 39/2014/ND-CP
...
...
...
It has a contingent of professionally qualified employees, physical facilities, technologies, means, equipment and internal regulations in accordance with law for conducting banking operations indicated in the license.
Clause 2 Article 5 of Decree No. 39/2014/ND-CP dated May 7, 2014
111.
For banking operations related to foreign exchange activities, it shall comply with the law on foreign exchange management.
Clause 3 Article 5 of Decree No. 39/2014/ND-CP dated May 7, 2014
repeal this condition
...
...
...
112.
It satisfies all professional conditions for banking operations prescribed by the State Bank.
Clause 4 Article 5 of Decree No. 39/2014/ND-CP
II.4.
The general conditions for a financial company to issue deposit certificates, promissory notes, bills or bonds to raise capital from organizations
...
...
...
113.
The conditions prescribed in Article 5 of Decree No. 39/2014/ND-CP
Clause 1 Article 6 of Decree No. 39/2014/ND-CP
114.
Their minimum operation duration, operation and business results are prescribed by the State Bank.
Clause 2 Article 6 of Decree No. 39/2014/ND-CP
...
...
...
Repeal Clause 2, Article 6 of Decree No. 39/2014/ND-CP
115.
Their long-term valuable paper issuance plans are approved by the Shareholders’ General Meeting, the Board of Directors or the Members’ Council in accordance with law.
Clause 3 Article 6 of Decree No. 39/2014/ND-CP
repeal this condition
Repeal Clause 3, Article 6 of Decree No. 39/2014/ND-CP
II.5
...
...
...
116.
The conditions prescribed in Article 5 of Decree No. 39/2014/ND-CP
Clause 1 Article 7 of Decree No. 39/2014/ND-CP
117.
They do not fall into the cases in which the State Bank applies methods to minimize, terminate or suspend the borrowing of loans on the inter-bank market and have no overdue debts at credit institutions and other foreign bank branches under the State Bank’s regulations.
...
...
...
repeal this condition
Repeal Clause 2, Article 7 of Decree No. 39/2014/ND-CP
II.6
The general condition for a financial company to borrow loans from the State Bank in the re-financing form (118-120)
118.
The conditions prescribed in Article 5 of Decree No. 39/2014/ND-CP
Clause 1 Article 8 of Decree No. 39/2014/ND-CP
...
...
...
119.
They satisfy all the conditions for borrowing loans in the form of re- financing prescribed by the State Bank.
Clause 2 Article 8 of Decree No. 39/2014/ND-CP
repeal this condition
Repeal Clause 2, Article 8 of Decree No. 135/2015/ND-CP
120.
...
...
...
Clause 3 Article 8 of Decree No. 39/2014/ND-CP
repeal this condition
Repeal Clause 3, Article 8 of Decree No. 135/2015/ND-CP
II.7
The general conditions for a financial company to provide bank guarantee (121-122)
121.
The conditions prescribed in Article 5 of Decree No. 39/2014/ND-CP dated May 7, 2014
...
...
...
Amended as the amendment plan prescribed in Article 5 (109, 111)
122.
They satisfy all the conditions on the guaranteed and the guarantors prescribed by the State Bank.
Clause 2 Article 10 of Decree No. 39/2014/ND-CP dated May, 2014
repeal this condition
Repeal Clause 2, Article 10 of Decree No. 39/2014/ND-CP
...
...
...
The general conditions for a financial company to provide factoring (123-124)
123.
The conditions prescribed in Article 5 of Decree No. 39/2014/ND-CP dated May 7, 2014
Point a Clause 1 Article 11 of Decree No. 39/2014/ND-CP dated May 7, 2014
Amended as the amendment plan prescribed in Article 5 (109, 111)
124.
...
...
...
Point b Clause 1 Article 11 of Decree No. 39/2014/ND-CP dated May 7, 2014
repeal this condition
Repeal Point b Clause 1, Article 11 of Decree No. 39/2014/ND-CP
II.9
Financial companies established and operating before the effective date of Decree No. 39/2014/ND-CP may add factoring operation if meeting all the conditions prescribed in Clause 1 of Article 11 of Decree No. 39/2014/ND-CP and the following conditions: (125-129)
125.
Conducting profitable business operation in the year preceding the year of requesting the operation addition;
...
...
...
126.
Having a minimum operation duration and factoring operation plan prescribed by the State Bank;
Point b Clause 2 Article 11 of Decree No. 39/2014/ND-CP
repeal this condition
Repeal Point b Clause 2, Article 11 of Decree No. 39/2014/ND-CP
...
...
...
Complying with regulations on safety ratios in banking activities, classification of debts and deduction for setting up risk provisions in all quarters of the year preceding the year of requesting the operation addition;
Point c Clause 2 Article 11 of Decree No. 39/2014/ND-CP
128.
The ratio of non-performing loans is below the level prescribed by the State Bank;
Point d Clause 2 Article 11 of Decree No. 39/2014/ND-CP
...
...
...
129.
Not being sanctioned for administrative violations in the monetary and banking fields in the year preceding the time of requesting the operation addition.
Point dd Clause 2 Article 11 of Decree No. 39/2014/ND-CP
II.10
Financial companies established and operating before the effective date of Decree No. 39/2014/ND-CP may add issuance of credit cards if meeting all the conditions prescribed in Clause 1 of Article 12 and the following conditions: (130-132)
...
...
...
130.
The conditions prescribed in Point c, d, dd Clause 2 Article 11 of this Decree;
Point a Clause 2 Article 12 of Decree No. 39/2014/ND-CP
131.
Having profitable business operation for at least two consecutive years preceding the year of requesting the operation addition;
Point b Clause 2 Article 12 of Decree No. 39/2014/ND-CP
...
...
...
132.
Having a minimum operation duration and a credit card issuance operation plan prescribed by the State Bank.
Point c Clause 2 Article 12 of Decree No. 39/2014/ND-CP
repeal this condition
Repeal Point c Clause 2, Article 12 of Decree No. 39/2014/ND-CP
II.11
...
...
...
133.
The conditions prescribed in Clauses 1, 2, 4 Article 5 of Decree No. 39/2014/ND-CP
Point a Clause 1 Article 13 of Decree No. 39/2014/ND-CP
Simplify this conditions as follows: The conditions prescribed in Clauses 2, 4 Article 5 of Decree No. 39/2014/ND-CP;
Amend Point a, Clause 1, Article 13 of Decree No. 39/2014/ND-CP
134.
They have internal regulations on process, procedures and principles of client identification to strictly supervise and prevent the abuse of financial companies for money laundering, terrorism financing and other criminal activities.
...
...
...
repeal this condition
Repeal Point b Clause 1, Article 13 of Decree No. 39/2014/ND-CP
II.12
Financial companies established and operating before the effective date of this Decree may add the operation of financial leasing if meeting all the conditions prescribed in Clause 1 Article 13 of Decree No. 39/2014/ND-CP dated May 7, 2014 and the following conditions (117-118)
135.
The conditions prescribed at Points a and b, Clause 2, Article 12 of Decree No. 39/2014/ND-CP;
Point a Clause 2 Article 13 of Decree No. 39/2014/ND-CP
...
...
...
136.
Having a minimum operation duration and a financial leasing plan prescribed by the State Bank.
Point b Clause 2 Article 13 of Decree No. 39/2014/ND-CP
repeal this condition
Repeal Point b Clause 2, Article 13 of Decree No. 39/2014/ND-CP dated May 7, 2014
III
...
...
...
III.1
Issuance of establishment licenses to cooperatives banks (137-159)
137.
Having charter capital at least equal to legal capital as prescribed by the Government at the time when the cooperative bank is applied for establishment.
...
...
...
138.
Regarding people's credit funds and other credit institutions: Do not fall under entities subject to special control as prescribed in Clause 3 Article 146 of the Law on credit institutions at the time when it is applied for being a member.
Clause 1 Article 34 of Circular No. 31/2012/TT-NHNN
...
...
...
Regarding other legal entities: They have gained profits in the year preceding the year when they apply for being members.
Clause 2 Article 34 of Circular No. 31/2012/TT-NHNN
140.
Entities prescribed in Clause 1, Clause 2 Article 34 of Circular No. 31/2012/TT-NHNN must contribute full capital as prescribed in Article 31 of Circular No. 31/2012/TT-NHNN, and submit a request and appoint a legal representative to participate.
Clause 3 Article 34 of Circular No. 31/2012/TT-NHNN
...
...
...
President of the Board of Directors must meet the following standards:
141.
He/she has worked in the banking sector for at least 05 years;
Point a Clause 1 Article 23 of Circular No. 31/2012/TT-NHNN
...
...
...
142.
He has held management or administration position in a banking-related organization for at least 02 years;
Point b Clause 1 Article 23 of Circular No. 31/2012/TT-NHNN
143.
He/she has obtained a bachelor's degree or higher in economics, finance, accounting, banking or law.
Point c Clause 1 Article 23 of Circular No. 31/2012/TT-NHNN
...
...
...
A members of Board of Directors must meet the following standards:
144.
He/she has worked in the banking sector for at least 02 years;
Point a Clause 2 Article 23 of Circular No. 31/2012/TT-NHNN
...
...
...
145.
He/she has held management or administration position in a banking-related organization for at least 01 years;
Point b Clause 2 Article 23 of Circular No. 31/2012/TT-NHNN
146.
He/she has obtained a bachelor's degree or higher in economics, finance, accounting, banking or law,
...
...
...
147.
The President and members of Board of Directors may not hold positions prescribed in Article 33 and Article 34 of the Law on credit institutions
Clause 3 Article 23 of Circular No. 31/2012/TT-NHNN
...
...
...
Standards for a member of Control Board
148.
He/she has worked in accounting, audit, finance, banking sector for at least 03 years;
Point a Clause 1 Article 23 of Circular No. 31/2012/TT-NHNN
149.
...
...
...
Point b Clause 1 Article 23 of Circular No. 31/2012/TT-NHNN
150.
Full-time members of Control Board must reside in Vietnam during their incumbent time and may not currently hold other positions at other credit institutions or enterprises.
Clause 2 Article 23 of Circular No. 31/2012/TT-NHNN
...
...
...
151.
Members of Control Board may not hold positions prescribed in Article 33 and Article 34 of the Law on credit institutions.
Clause 3 Article 23 of Circular No. 31/2012/TT-NHNN
Standards for General Director
...
...
...
He/she has worked in the banking sector for at least 05 years;
Clause 1 Article 25 of Circular No. 31/2012/TT-NHNN
repeal this condition
Repeal Clause 1 Article 25 of Circular No. 31/2012/TT-NHNN
153.
He/she has held management or administration position in a banking-related organization for at least 03 years;
Clause 2 Article 25 of Circular No. 31/2012/TT-NHNN
...
...
...
154.
He/she has obtained a bachelor's degree or higher in economics, finance, accounting, banking, business administration or law.
Clause 3 Article 25 of Circular No. 31/2012/TT-NHNN
155.
He/she has resided in Vietnam during incumbent time.
...
...
...
156.
He/she may not hold positions prescribed in Article 33 and Article 34 of the Law on credit institutions.
Clause 5 Article 25 of Circular No. 31/2012/TT-NHNN
...
...
...
Having a charter in accordance with the Law on credit institutions, the Law on Cooperatives and other regulations of relevant law provisions.
Clause 4 Article 8 of Circular No. 31/2012/TT-NHNN
158.
Having an establishment scheme and a feasibility business plan for the first 03 years of operation.
Clause 5 Article 8 of Circular No. 31/2012/TT-NHNN
...
...
...
159.
Having a headquarters, facilities and IT system fit for operation of the cooperatives bank.
Clause 6 Article 8 of Circular No. 31/2012/TT-NHNN
repeal this condition
Repeal Clause 6 Article 8 of Circular No. 31/2012/TT-NHNN
III.2
Conditions for issuing establishment and operation licenses to people's credit funds (160-195)
...
...
...
160.
Have a minimum charter capital which is equal to the statutory capital prescribed by the Government on the date of submission of application.
Clause 1 Article 10 of Circular No. 04/2015/TT-NHNN
161.
Have at least 30 members that satisfy the requirements in Article 31 hereof and have sufficient financial resources in order to contribute capital to establish the people’s credit fund.
Clause 2 Article 10 of Circular No. 04/2015/TT-NHNN
...
...
...
Conditions for becoming a member as individual
162.
Vietnamese citizens aged 18 or older who are capable of civil acts and have permanent residence registered in the area of operation of the people's credit fund;
Point a Clause 1, Article 31 of Circular No. 04/2015/TT-NHNN (amended by Circular No. 06/2017/TT-NHNN dated September 1, 2017)
...
...
...
163.
Officials working at organizations and agencies which are headquartered in the geographic scope of the people’s credit fund. Members of the people's credit fund who are officials are not allowed to hold the positions of President and members of the board of directors; Head and members of the Control Board; Director, Deputy Director; Chief accountant and other professional titles, except for cases prescribed at Point e, Clause 2, Article 20 hereof;
Point b Clause 1, Article 31 of Circular No. 04/2015/TT-NHNN (amended by Circular No. 06/2017/TT-NHNN)
164.
He/she is not the subject specified below:
...
...
...
- Officials working in branches and lines of business related to state secrets in accordance with law provisions;
- Officers, non-commissioned officers, professional army men in the people’s armed force units;
Point c Clause 1, Article 31 of Circular No. 04/2015/TT-NHNN (amended by Circular No. 06/2017/TT-NHNN)
165.
Other conditions as prescribed in the Charter of the people’s credit fund.
Point d Clause 1, Article 31 of Circular No. 04/2015/TT-NHNN (amended by Circular No. 06/2017/TT-NHNN)
...
...
...
Repeal Point d Clause 1, Article 31 of Circular No. 04/2015/TT-NHNN (amended by Circular No. 06/2017/TT-NHNN)
166.
Conditions for becoming a member as household:
+ Household with permanent residence in the area of operation of the people’s credit fund; household members shall have the same property to serve production and business services of such household;
+ The representative of the household must be authorized in written by the members of the household in accordance with the provisions of law and must comply with the regulations specified in Clause 1 this Article.
Clause 2, Article 31 of Circular No. 04/2015/TT-NHNN (amended by Circular No. 06/2017/TT-NHNN)
...
...
...
167.
Conditions for becoming a member as juridical person
+ Juridical person (except for Social Fund and Charity Fund) which is operating normally and is headquartered in the area of operation of the people's credit fund;
+ The person signing the application for capital contribution to the people's credit fund must be the legal representative of the juridical person. The legal representative of a juridical person may authorize another individual to act as a representative at the people's credit fund in accordance with relevant laws.
Clause 3, Article 31 of Circular No. 04/2015/TT-NHNN (amended by Circular No. 06/2017/TT-NHNN)
168.
...
...
...
Clause 4, Article 31 of Circular No. 04/2015/TT-NHNN (amended by Circular No. 06/2017/TT-NHNN)
169.
Each entity may be a member of 01 people’s credit fund.
Clause 5, Article 31 of Circular No. 04/2015/TT-NHNN (amended by Circular No. 06/2017/TT-NHNN)
...
...
...
Conditions and standards of members of the Board of directors
170.
Is an individual member or a representative of the contributed capital of juridical persons
Point a Clause 1 Article 20 of Circular No. 04/2015/TT-NHNN
...
...
...
Not belong to any cases specified in Article 33, 34 of the Law on credit institutions. Members of the Board of directors must not concurrently hold the positions of the chief accountant and treasurer of the people’s credit fund;
Point b Clause 1 Article 20 of Circular No. 04/2015/TT-NHNN
172.
Have at least 02 years of experience in the field of economics, accounting, audit, banking and law or have a diploma (or certificate) proving that he/she has been professionally trained in the field of people's credit fund;
Point c Clause 1 Article 20 of Circular No. 04/2015/TT-NHNN
...
...
...
173.
Comply with the provisions of law; not be penalized for administrative violations against regulations on the field of economics, accounting, audit and banking for 24 months preceding the time of election.
Point d Clause 1 Article 20 of Circular No. 04/2015/TT-NHNN
The president of the Board of directors must meet the following requirements:
...
...
...
174.
Is an individual member of the people’s credit fund except for cases prescribed in Point e Clause 2 Article 20 of Circular No. 04/2015/TT-NHNN
Point a Clause 2 Article 20 of Circular No. 04/2015/TT-NHNN
175.
Meet the requirements prescribed in Point b, d Clause 1 Article 20 of Circular No. 04/2015/TT-NHNN;
Point b Clause 2 Article 20 of Circular No. 04/2015/TT-NHNN
...
...
...
176.
Have at least 02 years of experience in the field of economics, finance, accounting, audit, banking and law;
Point c Clause 2 Article 20 of Circular No. 04/2015/TT-NHNN
177.
...
...
...
Point d Clause 2 Article 20 of Circular No. 04/2015/TT-NHNN
178.
Meet one of the following conditions: (i) Have at least a bachelor’s degree in economics, finance, accounting, audit, banking or law; (ii) Have at least a post-secondary diploma in one of the fields of economics, accounting, audit, banking, business administration and law or have a diploma (or certificate) proving that he/she has been professionally trained in the field of people's credit fund;
Point dd Clause 2 Article 20 of Circular No. 04/2015/TT-NHNN
...
...
...
Conditions for becoming members of the Control Board
179.
Is an individual member or a representative of the contributed capital of juridical persons;
Point a Clause 1 Article 23 of Circular No. 04/2015/TT-NHNN
...
...
...
Not belong to any cases specified in Article 33, 34 of the Law on credit institutions. Members of the Control Board must not concurrently be the chief accountant, treasurer, professional staff of the people’s credit fund and not be the related person of the chief director, chief accountant and treasurer of the people’s credit fund;
Point b Clause 1 Article 23 of Circular No. 04/2015/TT-NHNN
181.
Have a diploma (or certificate) proving that he/she has been professionally trained in the field of people's credit fund;
Point c Clause 1 Article 23 of Circular No. 04/2015/TT-NHNN
...
...
...
182.
Meet the requirements prescribed in Point b, d Clause 1 Article 20 of Circular No. 04/2015/TT-NHNN.
Point d Clause 1 Article 23 of Circular No. 04/2015/TT-NHNN
Head of the Control Board and the full-time controller must meet the following requirements:
...
...
...
183.
Is an individual member of the people’s credit fund;
Point a Clause 2 Article 23 of Circular No. 04/2015/TT-NHNN
184.
Meet the requirements and standards prescribed in Point b, c and d Clause 1 Article 23 of Circular No. 04/2015/TT-NHNN;
Point b Clause 2 Article 23 of Circular No. 04/2015/TT-NHNN
...
...
...
185.
Have at least a post-secondary diploma or higher in economics, accounting, audit, banking or law.
Point c Clause 2 Article 23 of Circular No. 04/2015/TT-NHNN
...
...
...
186.
Is an individual member of the people’s credit fund (if the Board of directors appoints one of its members to act as the Director).
Clause 1 Article 24 of Circular No. 04/2015/TT-NHNN
...
...
...
187.
Not belong to any cases specified in Article 33, 34 of the Law on credit institutions.
Clause 2 Article 24 of Circular No. 04/2015/TT-NHNN
188.
Have at least 02 years of experience in the field of economics, finance or banking.
Clause 3 Article 24 of Circular No. 04/2015/TT-NHNN
...
...
...
189.
Be used to hold a position as the manager or executive officer in banking or finance institution in accordance with the Charter or equivalent documents of such institution or the leader at division level or equivalent or higher position in accordance with the regulations of the regulatory agencies, business entity, political organization and socio-political organizations for at least 01 year.
Clause 4 Article 24 of Circular No. 04/2015/TT-NHNN
190.
...
...
...
Clause 5 Article 24 of Circular No. 04/2015/TT-NHNN
191.
Have at least a post-secondary diploma in one of the fields of economics, finance, accounting, audit, banking, business administration and law or have a diploma (or certificate) proving that he/she has been professionally trained in the field of people's credit fund. If the Director is hired from the outside, except for the requirements and standards specified in Clause 2, 3, 4, 5 and 7 this Article, he/she must have a bachelor’s degree or more in one of the fields of economics, finance, accounting, audit, banking, business administration, law and not a member of the management system, executive system or Control Board of members being the juridical persons.
Clause 6 Article 24 of Circular No. 04/2015/TT-NHNN
...
...
...
192.
Meet the requirements prescribed in Point b, d Clause 1 Article 20 of Circular No. 04/2015/TT-NHNN.
Clause 7 Article 24 of Circular No. 04/2015/TT-NHNN
193.
Have a Board of Directors and a Control Board that complies with the provisions of the Law on Credit Institutions and Circular No. 04/2015/TT-NHNN.
Clause 4 Article 10 of Circular No. 04/2015/TT-NHNN
...
...
...
194.
Have a Charter conformable to regulations specified in the Law on Credit Institutions, the Law on Cooperatives and other relevant legislative regulations.
Clause 5 Article 10 of Circular No. 04/2015/TT-NHNN
195.
...
...
...
Clause 6 Article 10 of Circular No. 04/2015/TT-NHNN
IV.
Provision of payment intermediary services (196-203)
196.
Having a License for establishment or Certificate of business registration issued by competent State agencies.
...
...
...
197.
Having an approved plan for payment intermediary service provisions in accordance with the regulations on investment authority prescribed in their charter, at least containing: Technical process of licensing services; mechanism for ensuring solvency ratio; internal inspection and control inspection; risk management, safety and confidentiality guarantee; general rules and internal regulations on money laundering prevention; procedures for trace requests, claims, disputes; rights and obligations of parties involved in service provision process.
Point b, Clause 2, Article 15 of Decree No. 101/2012/ND-CP (amended by Decree No. 80/2016/ND-CP)
Simplifying this condition as follows: Make a form for the plan with detailed guidelines.
Amend Point b, Clause 2, Article 15 of Decree No. 101/2012/ND-CP (amended by Decree No. 80/2016/ND-CP)
...
...
...
Having at least 50 billion VND of charter capital;
Point c Clause 2 Article 15 of Decree No. 101/2012/ND-CP
199.
Requirements of human resources: The legal representative, the General Director (Director) of the applying organization must have proficiency or experience in business administration or their discipline. The employees that run the payment intermediary services must be proficient in their job;
Point d Clause 2 Article 15 of Decree No. 101/2012/ND-CP
Simplifying this condition as follows: Specifying professional qualifications and number of years of administration experience of legal representative, the General Director; employees that run the payment intermediary services.
...
...
...
200.
Technical conditions: there are facilities and technical infrastructure, information technology system and technology solutions that satisfy the requirements for provision of payment intermediary services; back-up technical system independent from the primary system that ensures the safe and continuous service provision when the primary system has problems and in accordance with regulations on safety and security of information technology system in banking operations;
Point dd, Clause 2, Article 15 of Decree No. 101/2012/ND-CP (amended by Decree No. 80/2016/ND-CP)
201.
With regard to the financial switching, clearing services, the service provider must have the payment between relevant parties settled by another service provider..
...
...
...
202.
With regard to payment services provided for a customer holding accounts in multiple banks, the service provider must associate with a provider of switching and clearing services licensed by the State Bank to provide such services during the process of intermediary payment services;
Point g, Clause 2, Article 15 of Decree No. 101/2012/ND-CP (amended by Decree No. 80/2016/ND-CP)
...
...
...
Conditions for administrative accounting information system: During the process of service provision, the provider of payment intermediary services must have an administrative accounting information system to ensure the supervision of sources of funds, asset and outcomes of the payment intermediary services.
Point h, Clause 2, Article 15 of Decree No. 101/2012/ND-CP (amended by Decree No. 80/2016/ND-CP)
repeal this condition
Repeal Point h, Clause 2, Article 15 of Decree No. 101/2012/ND-CP (amended by Decree No. 80/2016/ND-CP)
V
Credit information provision
...
...
...
204.
Having at least 2 data transmission lines operated by two different service providers to ensure the uninterrupted transmission of digital information;
Point a, Clause 1, Article 7 of Decree No. 10/2010/ND-CP dated February 12, 2010 (amended by Decree No. 57/2016/ND-CP dated July 1, 2016)
205.
Having information technology facilities that are compatible with technological equipment of the system of credit providers and able to integrate and connect with credit providers;
...
...
...
206.
Having a server system, computer software system and technical solutions to update, process and store credit information and provide credit information services to at least 5 million borrowers;
Point c, Clause 1, Article 7 of Decree No. 10/2010/ND-CP dated February 12, 2010 (amended by Decree No. 57/2016/ND-CP dated July 1, 2016)
...
...
...
Having a plan to ensure information security and safety;
Point d, Clause 1, Article 7 of Decree No. 10/2010/ND-CP dated February 12, 2010 (amended by Decree No. 57/2016/ND-CP dated July 1, 2016)
208.
Having a backup plan to respond to catastrophes and ensure that major operational activities shall never be interrupted for over 4 working hours.
Point dd, Clause 1, Article 7 of Decree No. 10/2010/ND-CP dated February 12, 2010 (amended by Decree No. 57/2016/ND-CP dated July 1, 2016)
...
...
...
209.
Having at least 30 billion VND of charter capital;
Clause 2, Article 7 of Decree No. 10/2010/ND-CP dated February 12, 2010 (amended by Decree No. 57/2016/ND-CP dated July 1, 2016)
210.
For the chairperson of the Board of Directors, the chairperson of the Members’ Council or the president: Possessing a university or higher degree in economics, accounting, finance, banking or information technology, and having at least 3 years’ experience in the field of finance, banking or information technology.
...
...
...
211.
Point b, Clause 3, Article 7 of Decree No. 10/2010/ND-CP dated February 12, 2010 (amended by Decree No. 57/2016/ND-CP dated July 1, 2016)
212.
...
...
...
Point c, Clause 3, Article 7 of Decree No. 10/2010/ND-CP dated February 12, 2010 (amended by Decree No. 57/2016/ND-CP dated July 1, 2016)
213.
For members of the Supervisory Board: Having a university or higher degree in economics, accounting, finance, banking or information technology, and having at least 2 years’ experience in the field of finance, accounting, audit, banking or information technology.
Point d, Clause 3, Article 7 of Decree No. 10/2010/ND-CP dated February 12, 2010 (amended by Decree No. 57/2016/ND-CP dated July 1, 2016)
...
...
...
214.
Having a feasible business plan and refraining from conducting business lines other than the credit information-related activities prescribed in Decree No. 10/2010/ND-CP.
Clause 4, Article 7 of Decree No. 10/2010/ND-CP dated February 12, 2010 (amended by Decree No. 57/2016/ND-CP dated July 1, 2016)
215.
Having at least 20 commercial banks that commit to provide credit information exclusively to the company.
...
...
...
Simplifying this condition as follows: Specifying the minimum number of credit institutions, branches of commercial banks that commit to provide credit information exclusively to the company
Promulgate a Decree in placement Decree No. 10/2010/ND-CP dated February 12, 2010
216.
Having a written agreement with the credit providers as committed, on the process to collect, process, store and provide credit information, which must at least have the following contents:
- Contents and scope of credit information to be provided;
Time, location and method of providing or transmitting information, data or credit information products;
Principles, scope and purposes of the use of credit information products;
- Obligation to notify borrowers of their use of credit information;
...
...
...
- The parties’ responsibilities for checking, comparison, quality inspection and storage of credit information;
- The parties’ responsibilities for and coordination in settling complaints of borrowers;
- Handling of violations and settlement of disputes;
- Effect of the written agreement or unilateral termination of agreement implementation;
- Other rights and obligations of the parties in the course of collection, processing, storage and provision of credit information.
Clause 6, Article 7 of Decree No. 10/2010/ND-CP dated February 12, 2010 (amended by Decree No. 57/2016/ND-CP dated July 1, 2016)
...
...
...
Foreign exchange transactions of organizations other than credit institutions
VI.1
Requirements pertaining to business entities acting as currency exchange agents (217-224)
217.
It is established or registered in accordance with Vietnamese law.
Clause 1 Article 4 of Decree No. 89/2016/ND-CP dated July 1, 2016
...
...
...
218.
It has its currency exchange agent located in one or more of the following locations:
a) Tourist accommodation establishments rated at least 3 stars by a tourism authority;
b) International checkpoints (road, air, water);
c) Prize gaming facilities for foreigners which are licensed as prescribed by law;
d) Ticket offices of the airlines, maritime, foreign travel, and international ticket offices of Vietnam airlines;
dd) Tourist areas, shopping malls, and supermarkets where many foreigners visit and go shopping.
Clause 2 Article 4 of Decree No. 89/2016/ND-CP dated July 1, 2016
...
...
...
219.
There is a separate transaction area (transaction room(s) or counter(s) not associated with other business activities, only for currency exchange services);
Point a Clause 3 Article 4 of Decree No. 89/2016/ND-CP dated July 1, 2016
repeal this condition
Repeal Point a Clause 3, Article 4 of Decree No. 89/2016/ND-CP dated July 1, 2016
220.
...
...
...
Point b Clause 3 Article 4 of Decree No. 89/2016/ND-CP dated July 1, 2016
repeal this condition
Repeal Point b Clause 3, Article 4 of Decree No. 89/2016/ND-CP dated July 1, 2016
221.
Each staff member who directly works in the currency exchange agent must have a document certifying that he/she has been trained in recognition of real or fake foreign currencies that is issued by the authorizing credit institution.
Clause 4 Article 4 of Decree No. 89/2016/ND-CP dated July 1, 2016
repeal this condition
Repeal Clause 4, Article 4 of Decree No. 89/2016/ND-CP dated July 1, 2016
...
...
...
222.
It has established currency exchange procedures; measures to ensure security and safety in the process of currency exchange.
Clause 5 Article 4 of Decree No. 89/2016/ND-CP dated July 1, 2016
Simplifying this condition as follows: It has established currency exchange procedures; measures to ensure security and safety in the process of currency exchange; at the transaction office, there must be a notice board for the public exchange rate, a signboard showing the name of the authorized credit institution and the name of the foreign currency exchange agent”
Amend Clause 5, Article 4 of Decree No. 89/2016/ND-CP dated July 1, 2016
223.
It is authorized by the credit institution to act as a currency exchange agent.
Clause 6 Article 4 of Decree No. 89/2016/ND-CP dated July 1, 2016
...
...
...
224.
A business entity may only acts as a currency exchange agent for an authorizing credit institution and the business entity may agree to set currency exchange agent at one or multiple locations in the area where the organization has its head office or branch located.
Clause 7 Article 4 of Decree No. 89/2016/ND-CP dated July 1, 2016
Simplifying this condition as follows: “A business entity may only acts as a currency exchange agent for an authorizing credit institution and the business entity”
Amend Clause 7, Article 4 of Decree No. 89/2016/ND-CP dated July 1, 2016
VI.2
...
...
...
225.
It is established or registered in accordance with Vietnamese law.
Point a Clause 1 Article 5 of Decree No. 89/2016/ND-CP dated July 1, 2016
repeal this condition
Repeal Point a Clause 1, Article 5 of Decree No. 89/2016/ND-CP dated July 1, 2016
226.
It has equipment and facilities that satisfy the requirements for foreign currency payment services such as: Computers, telephones, fax machines;
...
...
...
repeal this condition
Repeal Point b Clause 1, Article 5 of Decree No. 89/2016/ND-CP dated July 1, 2016
227.
There is an agreement on foreign currency payment services concluded with foreign partners;
Point c Clause 1 Article 5 of Decree No. 89/2016/ND-CP dated July 1, 2016
...
...
...
There is a plan for foreign currency payment services bearing the signature of the legal representative.
Point d Clause 1 Article 5 of Decree No. 89/2016/ND-CP dated July 1, 2016
VI.3
Requirements applicable to a business entity for extension of approval for direct foreign currency payment services granted by the State bank of Vietnam (229-230)
229.
...
...
...
Point a Clause 2 Article 5 of Decree No. 89/2016/ND-CP dated July 1, 2016
230.
It does not violate reporting regulations as prescribed by the State bank of Vietnam in at least 4 quarters from the date on which the approval for direct foreign currency payment services or the extension of approval for direct foreign currency payment services is granted.
Point c Clause 2 Article 5 of Decree No. 89/2016/ND-CP dated July 1, 2016
...
...
...
VI.4
Requirements pertaining to business entities acting as foreign currency payment agents (231-233)
231.
It is established or registered in accordance with Vietnamese law.
Point a Clause 1 Article 6 of Decree No. 89/2016/ND-CP dated July 1, 2016
...
...
...
It has equipment and facilities that satisfy the requirements for foreign currency payment agents such as: Computers, telephones, fax machines;
Point b Clause 1 Article 6 of Decree No. 89/2016/ND-CP dated July 1, 2016
repeal this condition
Repeal Point b Clause 1, Article 6 of Decree No. 89/2016/ND-CP dated July 1, 2016
233.
It is authorized by the credit institution to act as a foreign currency payment agent.
Point c Clause 1 Article 6 of Decree No. 89/2016/ND-CP dated July 1, 2016
...
...
...
VI.5
Requirements applicable to a business entity for extension of approval for foreign currency payment agent granted by the State bank of Vietnam (234-243)
234.
It satisfies the requirements prescribed in Clause 1 Article 6 Decree No. 89/2016/ND-CP dated July 1, 2016
Point a Clause 2 Article 6 of Decree No. 89/2016/ND-CP dated July 1, 2016
...
...
...
235.
It does not violate reporting regulations as prescribed by the State bank of Vietnam in at least 4 quarters from the date on which the approval for registration of foreign currency payment agent or the approval for extension of direct foreign currency payment agent is granted.
Point c Clause 2 Article 6 of Decree No. 89/2016/ND-CP dated July 1, 2016
VII
Gold trading
...
...
...
Conditions for obtaining the License to trade gold bars (236-245)
* Enterprises are eligible for the License to trade gold bars when the following conditions are satisfied (238-242)
236.
...
...
...
Point a Clause 1 Article 11 Chapter 3 of Decree No. 24/2012/ND-CP
237.
Having the charter capital of 100 billion VND and above.
Point b Clause 1 Article 11 Chapter 3 of Decree No. 24/2012/ND-CP
...
...
...
238.
Having 2-year experience in gold trading or more.
Point c Clause 1 Article 11 Chapter 3 of Decree No. 24/2012/ND-CP
239.
Having paid the tax on gold business of 500 (five hundred) million VND/year or above during the two latest successive years (upon verification of the tax authority).
Point d Clause 1 Article 11 Chapter 3 of Decree No. 24/2012/ND-CP
...
...
...
240.
Having branches and sale offices in 3 (three) provinces and centrally-affiliated cities or more in Vietnam.
Point dd Clause 1 Article 11 Chapter 3 of Decree No. 24/2012/ND-CP
...
...
...
241.
Having the charter capital of 3.000 billion VND and above.
Point a, Clause 2, Article 11 of Decree No. 24/2012/ND-CP
...
...
...
242.
Having registered gold business.
Point b, Clause 2, Article 11 of Decree No. 24/2012/ND-CP
243.
Having branches and sale offices in 5 (three) provinces and centrally-affiliated cities or more in Vietnam.
Point c, Clause 2, Article 11 of Decree No. 24/2012/ND-CP
...
...
...
VII.2
certificate of eligibility for production of gold jewellery and fine arts (244-245)
244.
The enterprise is established under law provisions that have registered to produce gold jewellery and fine arts in the Certificate of business registration.
Clause 1, Article 5 Chapter II of Decree No. 24/2012/ND-CP
repeal this condition
...
...
...
245.
Having premises, facilities and necessary equipment serving the production of gold jewellery and fine arts.
Clause 2, Article 5 Chapter II of Decree No. 24/2012/ND-CP
repeal this condition
Prescribed in Decree on amendments to Decree No. 24/2012/ND-CP
VII.3
Conditions for trading gold jewelry and fine arts (246-247)
...
...
...
246.
The enterprises is established under law provisions and the Certificate of enterprise registration must include the production of gold jewellery and fine arts.
Clause 1, Article 8 Chapter II of Decree No. 24/2012/ND-CP
repeal this condition
Prescribed in Decree on amendments to Decree No. 24/2012/ND-CP
247.
Having premises, facilities and equipments serving gold jewellery and fine art trading.
Clause 2, Article 8 Chapter II of Decree No. 24/2012/ND-CP
...
...
...
Prescribed in Decree on amendments to Decree No. 24/2012/ND-CP
VIII
Printing and minting money (248-257)
248.
Printing and minting establishments shall prepare and take responsibility for the safe management of all kinds of equipment, supplies, raw materials and auxiliary materials in service of the printing and minting of money under contracts.
- Clause 2 Article 18 of the Law on the State bank of Vietnam
Exclude the money minting activity from business activities pursuant to Decree No. 130/2013/ND-CP dated October 16, 2013 on production and provision of public products and services, “Printing bank notes and production of metal money” is under list of public products and services.
...
...
...
249.
Domestic money printing and minting facilities shall develop and submit the technological process of money printing and minting and submit to the Governor of the State Bank for approval.
- Article 8 of Decree No. 40/2012/ND-CP dated May 2, 2012
250.
The money printing and minting facilities shall submit the printed or minted samples, the printing plates and the molds to the Governor of the State Bank for approval before officially carry out the printing and minting process.
251.
...
...
...
252.
Money printing must not use materials specialized for printing and minting Vietnamese money to produce other products unless they obtain prior written consent from the State Bank.
253.
Money printing and minting facilities shall ensure the confidentiality of information relating to money printing and minting as prescribed.
...
...
...
Running debt trading services
General conditions for enterprises running debt trading services:
254.
The enterprise running debt trading service must have internal management rules in terms of organization and internal regulations on debt trading activities in conformity with regulations in this Decree.
Clause 1 Article 5 of Decree No. 69/2016/ND-CP dated July 1, 2016
...
...
...
255.
Hold the position of manager or have at least 05 consecutive years of experience in financial sector, banking, accounting, auditing, law, asset valuation or debt trading;
Point c Clause 3 Article 5 of Decree No. 69/2016/ND-CP dated July 1, 2016
Requirements for debt trading floor service providers
...
...
...
256.
Have facilities, techniques and appropriate information technology systems to receive, update and provide information about debt trading activities to participants in the debt trading floor.
- Article 7 of Decree No. 69/2016/ND-CP;
257.
...
...
...
- Article 8 of Decree No. 69/2016/ND-CP;
APPENDIX
LEGAL DOCUMENTS TO BE AMENDED TO IMPLEMENT THE PLAN TO REDUCE AND SIMPLIFY BUSINESS CONDITIONS
No.
Documents on business conditions
Authorities in charge of amendments
...
...
...
Decrees
1.
Government’s Decree No. 10/2010/ND-CP dated February 12, 2010 on credit information-related activities;
The Legal Department formulates a Decree on amendments to multiple documents
2.
Government's Decree No. 57/2016/ND-CP dated July 1, 2016 on amendments to Decree No. 10/2010/ND-CP dated February 12, 2010
3.
Government's Decree No. 39/2014/ND-CP dated May 7, 2014 on operation of financial companies and finance leasing companies
...
...
...
Government's Decree No. 89/2016/ND-CP dated July 1, 2016 on requirements applicable to currency exchange agents
5.
Government's Decree No. 135/2015/ND-CP dated December 31, 2015 on outward indirect investment
6.
Government's Decree No. 101/2012/ND-CP dated November 22, 2012 on non-cash payments;
7.
Government's Decree No. 80/2016/ND-CP dated July 1, 2016 on amendments to Government's Decree No. 101/2012/ND-CP dated November 22, 2012 on non-cash payments
8.
Government's Decree No. 24/2012/ND-CP dated April 3, 2012 on gold trading management
...
...
...
II
Circulars, Decisions promulgated by the Governor of the State Bank
1.
Circular No. 40/2011/TT-NHNN dated December 15, 2011 of the State Bank on issuance of License, the organization and operation of commercial banks, foreign bank's branches, and representative offices of foreign credit institutions, other foreign organizations having banking activities in Vietnam
The Legal Department formulates a Circular on amendments to multiple documents
2.
Circular No. 21/2013/TT-NHNN dated September 9, 2013 of the State Bank on operation network of commercial banks
The Legal Department formulates a Circular on amendments to multiple documents
3.
...
...
...
4.
Circular No. 15/2016/TT-NHNN dated June 30, 2018 on amendments to Circular No. 30/2015/TT-NHNN dated December 25, 2015 of Governor of the State Bank on issuance of licenses, organization and operation of non-bank credit institutions
5.
Circular No. 31/2012/TT-NHNN dated November 26, 2012 of the State Bank on cooperatives banks.
6.
Circular No. 04/2015/TT-NHNN dated March 31, 2015 of the State Bank on people's credit funds.
...
...
...
Circular No. 06/2017/TT-NHNN dated September 1, 2017 of the State Bank on amendments to Circular No. 03/2014/TT-NHNN dated January 23, 2014 on guarantee funds for the safety of the people's credit fund system and Circular No. 04/2015/TT-NHNN dated March 31, 2015 on people's credit funds.
8.
Decision No. 951/2003/QD-NHNN dated August 18, 2003 of the Governor of the State Bank on establishment and operation of money transfer companies affiliated to joint-stock commercial banks of the state and the people
Bank Supervision and Inspection Agency
9.
Decision No. 1389/2001/QD-NHNN dated November 7, 2001 of the Governor of the State Bank on establishment of assets management companies affiliated to commercial banks
Bank Supervision and Inspection Agency
10.
...
...
...
Bank Supervision and Inspection Agency