Press release on issuance of Circular No.13/2020/TT-NHNN
Hanoi, November 13, 2020. The Governor of the State Bank of Vietnam (SBV) has issued Circular No.13/2020/TT-NHNN amending and supplementing a number of articles of Circular No.22/2018/TT-NHNN dated September 5, 2018 of the SBV Governor providing for the procedures and dossiers required for the approval of the expected list of personnel of commercial banks, non-bank credit institutions and foreign bank branches.
The new Circular is composed of 3 Articles aimed at revising the substances of Paragraph 2, Article 3 of Circular No. 22/2018/TT-NHNN stipulating the dossiers to be submitted to the SBV to request approval for the expected list of personnel by credit institutions and foreign bank branches. The main substances supplemented in the new Circular are as follows:
- In case that a credit institution temporarily does not have a legal representative, the document requesting the SBV's approval shall be submitted by either the Board of Directors or the Board of Members, and signed either by the Chairperson of the Board of Directors or the Chairperson of the Board of Members.
- In case a foreign bank branch temporarily has no General Director (or Director), the document requesting the SBV's approval shall be signed by an authorized representative of that foreign bank branch.
The new Circular shall take effect from December 28, 2020.
Translated by Le Hang