Accordingly, the SBV officially announces 17 administrative procedures in the fields of licensing and banking operations under its jurisdiction, including 5 administrative procedures related to the establishment of branches, transaction offices, representative offices, domestic productive entities, commercial banks with wholly capital oversea; 3 administrative procedures related to the inauguration of branches, transaction offices, representative offices, domestic productive entities, and commercial banks with wholly overseas capital; 4 administrative procedures related to the operational termination of branches, transaction offices, representative offices, domestic productive entities, and commercial banks with wholly overseas capital; 5 administrative procedures related to the change of branches, transaction offices, representative offices, domestic productive entities, and commercial banks with wholly overseas capital. Two newly issued procedures in forex operations include (1) registration of foreign borrowings and the international bond issue with the Government guarantee; and (2) registration of the change of foreign borrowings and the international bond issue with the Government guarantee. These procedures are stipulated in Circular No. 21/2013/TT-NHNN dated September 9, 2013 on operational network of commercial banks and Circular No. 22/2013/TT-NHNN dated September 24, 2013 on guiding procedures for registration and registration of the change of foreign borrowings and the international bond issue with the Government guarantee.

The aforesaid procedures include the implementing steps and methods, detailed dossiers, conditionality requirements, and application and statement formats which will be publicized on the National Database on administrative procedures and the SBV website. The announcement of the administrative procedures is implemented in accordance with the relevant legal texts on administrative procedure control and meets the requirements of transparency in the process of implementing administrative procedures. 

Up to now, SBV’s set of administrative procedures figures 279 in the monetary and forex operations, the establishment and operations of banks, payments and other fields.

Source: SBV