1. LEGAL DOCUMENTS ARE EFFECTIVE FROM 01/04/2020

1.1. Circular No. 28/2019/TT-NHNN amending and supplementing a number of articles of Circular No. 19/2016/TT-NHNN dated on June 30, 2016 of the Governor of the State Bank of Viet Nam on bank card operations

• Name of legal document: Circular No. 28/2019/TT-NHNN issued on 25/12/2019 by the State Bank of Viet Nam amending and supplementing a number of articles of Circular No. 19/2016/tt-nhnn dated on June 30, 2016 of the Governor of the State Bank of Viet Nam on bank card operations (referred to as the “Circular No. 28/2019/TT-NHNN”).

• Effective date: 01/04/2020.

Some contents should be noted:

·        Firstly, amending the provison on non-physical card and supplement the provisions on domestic transactions which present the card and make non-payment transactions at merchants.

Specifically, Clause 1 Article 1 of Circular No. 28/2019/TT-NHNN stipulates: “Article 1. amending and supplementing a number of articles of Circular No. 19/2016/tt-nhnn dated on June 30, 2016 of the Governor of the State Bank of Vietnam on bank card operations

1. Amending Clauses 7, 19, 23 and 25 and adding Clauses 8a and 8b to Article 3 as follows:

“7. Non-physical card is a card that does not exist in physical form, exists in electronic form and contains information on the card as prescribed in Article 12 of this Circular (Circular No. 19/2016/TT-NHNN) and is issued by the card issuer to the cardholder for transaction on internet environment, application program on mobile devices; excluding cases that physical card registered functions for transactions on the internet environment, application programs on mobile devices. Non-physical cards may be printed by physical card issuers upon the request of cardholders.”.

“8a. Domestic transaction which presents the card is a card transaction in which the card is issued by a card issuer in Vietnam and is used to make card transactions at Automated Teller Machine and point of sale terminals in Vietnam.”

“8b. A non-payment transaction at a merchant is the use of card and card information to pay for goods or services but in fact does not generate or sell goods and services.”

…. ”

• Secondly, Amending and supplementing the regulation on subjects entitled to use cards.

Specifically, Clause 5 Article 1 of Circular No. 28/2019/TT-NHNN stipulates: “Article 1. Amending and supplementing a number of articles of Circular No. 19/2016/TT-NHNN dated on June 30, 2016 of the Governor of the State Bank of Vietnam on bank card operations

…

5. Amend Point b, Clause 3, Article 16 as follows:

“b) Persons aged between full 15 and under 18 who do not lose or have limited civil act capacity may use debit cards, credit cards and prepaid cards;”.”

1.2. Circular No. 04/2020/TT-NHNN amending and supplementing a number of articles of Circular No. 26/2013/TT-NHNN dated December 5, 2013 of the State Bank of Viet Nam promulgating the tariff of charges for payment services offered via the state bank of Viet Nam

• Name of legal document: Circular No. 04/2020/TT-NHNN issued on 31/03/2020 by the State Bank of Viet Nam amending and supplementing a number of articles of Circular No. 26/2013/TT-NHNN dated December 5, 2013 of the State Bank of Viet Nam promulgating the tariff of charges for payment services offered via the state bank of Viet Nam (referred to as the “Circular No. 01/2020/TT-NHNN”).

• Effective date: 01/04/2020.

The content should be noted: providing on reduction of payment fees via the inter-bank electronic payment system.

Specifically, Article 1 of Circular No. 04/2020/TT-NHNN stipulates: “Article 1. Amending and supplementing a number of articles of Circular No. 26/2013/TT-NHNN as follows:

Article 1a is added as follows:

“Article 1a. Reducing 50% on payment fees at Points 1.1 and 1.2, Section 1 “Charge for payment transactions performed via the eIPS” in Part III “In-country payment service charge” Tariff of charges for payment services offered via the State Bank of Viet Nam issued together with this Circular (Circular No. 26/2013 / TT-NHNN) from April 1, 2020 to December 31, 2020.”.”

2. LEGAL DOCUMENTS ARE ISSUED IN 03/2020

2.1. Circular No. 01/2020/TT-NHNN debt rescheduling, exemption or reduction of interest and fees, retention of debt category to assist borrowers affected by Covid-19 pandemic

• Name of legal document: Circular No. 01/2020/TT-NHNN issued on 13/03/2020 by the State Bank of Viet Nam debt rescheduling, exemption or reduction of interest and fees, retention of debt category to assist borrowers affected by Covid-19 pandemic (referred to as the “Circular No. 01/2020/TT-NHNN”).

• Effective date: 13/03/2020.

Some contents should be noted:

• Firstly, providing on debt rescheduling.

Specifically, Article 4 of Circular No. 01/2020/TT-NHNN stipulates: “Article 4. Debt rescheduling

1. An outstanding debt, including the principal and/or interest (including the debts regulated by the Government’s Decree No. 55/2015/ND-CP) may be rescheduled if it fully satisfies the following conditions:

a) The debt is a loan or finance lease;

b) The principal and/or interest arises during the period from 23/01/2020 to the day after 03 months after the day on which the Prime Minister declares the end of the Covid-19 outbreak;

c) The borrower is unable to repay the principal and/or interest under the loan/finance lease agreement due to decrease in revenue caused by Covid-19 pandemic.

2. The debts mentioned in Clause 1 of this Article shall be rescheduled in the following cases:

a) The unpaid debt is undue or up to 10 days overdue according to the loan/finance lease agreement;

b) The debt is overdue (except for the cases in Point a of this Clause) during the period from 23/01/2020 to the 16th day from the effective date of this Circular (Circular No. 01/2020/TT-NHNN).

3. Credit institutions and FBBs shall decide the rescheduling of debts cases specified in Clause 1 and Clause 2 of this Article in consideration of the borrowers’ request and ability to fully repay the principal and/or interest after the debt is rescheduled. The rescheduling shall be suitable for the impacts of Covid-19 and follow these rules:

a) Debts that violate regulations of law shall not be rescheduled.

b) The debt shall not be deferred for more than 12 months from the initial repayment deadline according to the loan/finance lease agreement.”

• Secondly, providing on reduction and exemption of interest and/or fees.

Specifically, Article 5 of Circular No. 01/2020/TT-NHN stipulates: “Article 5. Reduction and exemption of interest and/or fees

Credit institutions and FBBs shall, according to their own rules and regulations, decide reduction and exemption of interest and/or fees on extension of the debts (except purchases of corporate bonds) that are due during the period from 23/01/2020 to the day after 03 months after the Prime Minister declares the end of the Covid-19 outbreak and the borrowers are not able to repay the principal and/or interest by the deadline specified in the original agreement due to decrease in revenue caused by Covid-19.”

• Thirdly, providing on Retention of debt category

Specifically, Article 6 of Circular No. 01/2020/TT-NHNN stipulates: “Article 6. Retention of debt category

1. Credit institutions and FBBs may retain the categories of the following debts if they have been categorized in accordance with regulations of the State bank of Vietnam (SBV) before 23/01/2020:

a) The debts that are rescheduled as prescribed in Article 4 of this Circular (Circular No. 01/2020/TT-NHNN);

b) The outstanding debts on which interest is exempted or reduced as prescribed in Article 5 of this Circular (Circular No. 01/2020/TT-NHNN);

c) The outstanding debts mentioned in Point a and Point b of this Clause, including the debts that are rescheduled, have interest reduced or exempt, or re-categorized as prescribed by SBV during the period from 23/01/2020 to the 16th day after the effective date of this Circular.

2. Credit institutions and FBBs shall classify and make bad debt provision for the debts mentioned in Clause 1 of this Article according to their rescheduled term without having to put them into a higher-risk category.

3. From the rescheduling date, credit institutions and FBBs are not required to record the interests on the outstanding debts that are rescheduled, debts on which interest is reduced or exempted, debts that remain current non-performing loans (Group 1) as prescribed in this Circular (Circular No. 01/2020/TT-NHNN) as revenue. Instead, they shall be monitored off-balance sheet and recorded as revenue when they are collected in accordance with regulations of law.

2.2. Decision No. 418/QĐ-NHNN on the interest rates for deposits in Vietnamese Dong of Viet Nam Development Bank, Social Policy Bank, People’s Credit Funds, and microfinance institutions at the State Bank of Viet Nam

• Name of legal document: Decision No. 418/QĐ -NHNN issued on 16/03/2020 by the State Bank of Viet Nam on the refinancing interest rate, rediscount interest rate, overnight lending interest rate in inter-bank electronic payment and lending capital to offset the shortage of capital in the clearing of the State Bank of Vietnam for the banks (referred to as the “Decision No. 418/QĐ-NHNN”).

• Effective date: 17/03/2020.

The contents should be noted: providing on the interest rates of the State Bank of Viet Nam.

Specifically, Article 1 Decision No. 422/QĐ-NHNN stipulates: “Article 1. Stipulation on the interest rates of the State Bank of Viet Nam as follows:

1. Refinancing interest rate: 5.0%/year.

2. Rediscount interest rate: 3.5%/year.

3. Overnight lending interest rate in inter-bank electronic payment and lending to offset the capital shortage in clearing of the State Bank of Viet Nam for banks: 6.0%/year.”

2.3. Decision No. 419/QĐ-NHNN on maximum interest rate for Vietnamese Dong deposits of organizations and individuals at credit institutions and branches of foreign bank as prescribed in Circular No. 07/2014/TT-NHNN of March 17, 2014

• Name of legal document: Decision No. 419/QĐ -NHNN issued on 16/03/2020 by the State Bank of Viet Nam on maximum interest rate for Vietnamese Dong deposits of organizations and individuals at credit institutions and branches of foreign bank as prescribed in Circular No. 07/2014/TT-NHNN[1] of March 17, 2014 (referred to as the “Decision No. 419/QĐ-NHNN”).

• Effective date: 17/03/2020.

The contents should be noted: providing on maximum interest rates for Vietnamese Dong deposits of organizations (except for credit institutions, branches of foreign bank) and individuals at credit institutions and branches of foreign bank according to Circular No. 07/2014/TT-NHNN of March 17, 2014.

Specifically, Article 1 Decision No. 422/QĐ-NHNN stipulates: “Article 1. Maximum interest rates for Vietnamese Dong deposits of organizations (except for credit institutions, branches of foreign bank) and individuals at credit institutions and branches of foreign bank according to Circular No. 07/2014/TT-NHNN of March 17, 2014 are as follows:

1. The maximum interest rate applicable to demand deposits and terms with less than 1 month is 0.5%/year.

2. The maximum interest rate applicable to deposits with terms from 1 month to less than 6 months is 4.75%/year; Particularly for People’s Credit Funds and Microfinance Institutions, the maximum interest rate applicable to deposits with a term of between 1 month and under 6 months shall be 5.25%/year.”

2.4. Decision No. 420/QĐ-NHNN on the maximum interest rates for short-term loans in Vietnamese Dong of credit institutions and branches of foreign bank to borrowers to meet the capital demand in service of a number of economic sectors and industries according to regulations. in Circular No. 39/2016/TT-NHNN dated December 30, 2016

• Name of legal document: Decision No. 420/QĐ -NHNN issued on 16/03/2020 by the State Bank of Viet Nam on the maximum interest rates for short-term loans in Vietnamese Dong of credit institutions and branches of foreign bank to borrowers to meet the capital demand in service of a number of economic sectors and industries according to regulations in Circular No. 39/2016/TT-NHNN[2] dated December 30, 2016 (referred to as the “Decision No. 420/QĐ-NHNN”).

• Effective date: 17/03/2020.

The contents should be noted: providing on on maximum interest rates for short-term loans in Vietnamese Dong that credit institutions and customers agree to meet a number of certain demands for borrowed fund.

Specifically, Article 1 Decision No. 420/QĐ-NHNN stipulates: “Article 1. Maximum interest rates for short-term loans in Vietnamese dong as prescribed in Clause 2, Article 13[3] of Circular No. 39/2016/TT-NHNN dated December 30, 2016 are as follows:

1. Credit institutions and foreign bank branches (except for People’s Credit Funds and Microfinance Institutions), which apply the maximum short-term lending interest rate in Vietnamese Dong, shall be 5.5%/year.

2. People’s credit funds and Microfinance Institutions apply the maximum interest rate for short-term loans in Vietnam dong at 6.5%/year. “”

2.5. Decision No. 421/QĐ-NHNN on interest rates of compulsory reserve deposits and deposits in excess of compulsory reserves of credit institutions and branches of foreign bank at the State Bank of Viet Nam

• Name of legal document: Decision No. 421/QĐ -NHNN issued on 16/03/2020 by the State Bank of Viet Nam on interest rates of compulsory reserve deposits and deposits in excess of compulsory reserves of credit institutions and branches of foreign bank at the State Bank of Viet Nam (referred to as the “Decision No. 421/QĐ-NHNN”).

• Effective date: 17/03/2020.

The contents should be noted: providing on interest rates applicable to compulsory reserve deposits and deposits exceeding the compulsory reserves of credit institutions and branches of foreign bank at the State Bank of Vietnam.

Specifically, Article 1 Decision No. 421/QĐ-NHNN stipulates: “Article 1. The interest rates applicable to compulsory reserve deposits and deposits exceeding the compulsory reserves of credit institutions and branches of foreign bank at the State Bank of Vietnam are as follows:

1. For compulsory reserve deposits in Vietnamese Dong: 1.0%/year.

2. For compulsory reserve deposits in foreign currencies: 0%/year.

3. For deposits exceeding the compulsory reserve in Vietnamese Dong: 0%/year.

4. For deposits exceeding compulsory reserves in foreign currencies: 0.05%/year.”

2.6. Decision No. 422/QĐ-NHNN on the interest rates for deposits in Vietnamese Dong of Viet Nam Development Bank, Social Policy Bank, People’s Credit Funds, and microfinance institutions at the State Bank of Viet Nam

• Name of legal document: Decision No. 422/QĐ -NHNN issued on 16/03/2020 by the State Bank of Viet Nam on the interest rates for deposits in Vietnamese Dong of Viet Nam Development Bank, Social Policy Bank, People’s Credit Funds, and microfinance institutions at the State Bank of Viet Nam (referred to as the “Decision No. 422/QĐ-NHNN”).

• Effective date: 17/03/2020.

The contents should be noted: providing on interest rates applicable to Vietnamese Dong deposits of Viet Nam Development Bank, Social Policy Bank, People’s Credit Funds, microfinance institutions at the State Bank of Viet Nam.

Specifically, Article 1 Decision No. 422/QĐ-NHNN stipulates: “Article 1. Interest rates applicable to Vietnamese Dong deposits of Viet Nam Development Bank, Social Policy Bank, People’s Credit Funds, microfinance institutions at the State Bank of Viet Nam as follows:

1. For deposits of Viet Nam Development Bank: 1.0%/year.

2. For deposits from Vietnam Bank for Social Policies: 1.0%/year.

3. For deposits of People’s Credit Funds: 1.0%/year.

4. For deposits of microfinance institutions: 1.0%/year.”

2.7. Decision No. 423/QĐ-NHNN on the deposit interest rates of the State Treasury, Viet Nam Deposit Insurance at the State Bank of Viet Nam

• Name of legal document: Decision No. 423/QĐ -NHNN issued on 16/03/2020 by the State Bank of Viet Nam on the deposit interest rates of the State Treasury, Viet Nam Deposit Insurance at the State Bank of Viet Nam (referred to as the “Decision No. 423/QĐ-NHNN”).

• Effective date: 17/03/2020.

The contents should be noted: providing on interest rates applicable to deposits of the State Treasury, Viet Nam Deposit Insurance at the State Bank of Viet Nam.

Specifically, Article 1 Decision No. 423/QĐ-NHNN stipulates: “Article 1. The interest rates applicable to deposits of the State Treasury, Viet Nam Deposit Insurance at the State Bank of Viet Nam are as follows:

1. For Vietnamese Dong deposits of the State Treasury: 1.0%/year.

2. For deposits in foreign currencies of the State Treasury: 0.05%/year.

3. For Vietnamese Dong deposits of Viet Nam Deposit Insurance: 1.0%/year.”

[1] Circular No. 07/2014/TT-NHNN issued on 17/03/2014 of the State Bank of Viet Nam providing for the maximum interest rate applicable to VND deposits of entities, individuals at credit institutions

[2] Circular No. 39/2016/TT-NHNN issued on December 30, 2016 of the State Bank of Viet Nam prescribing lending transactions of credit institutions and/or foreign bank branches with customers

[3] Clause 2 Article 13 of Circular No. 39/2016: “Article 13. Loan interest rate

…

2. A credit institution and customer shall agree on the interest rate on short-term loan denominated in Vietnamese dong but shall not allow it to exceed the maximum interest rate decided by the State Bank’s Governor over periods of time in order to meet certain demands for borrowed fund as follows:

a) Loans taken out to support the agricultural and rural development sector under regulations of the Government on credit policies for agricultural and urban development;

b) Loans taken out to implement the export business plan in accordance with the Law on Commerce and other instructional directives thereof;

c) Loans taken out to finance business activities of small and medium-sized enterprises under the Government’s regulations on support for development of small and medium-sized enterprises;

d) Loans taken out to develop ancillary industries under the Government’s regulations on development of ancillary industries;

dd) Loans taken out to finance business operations of high technology application enterprises under the provisions of the Law on High Technology and other instructional directives thereof.”

1. LEGAL DOCUMENTS ARE EFFECTIVE FROM 01/03/2020

1.1. Circular No. 26/2019/TT-NHNN amending, supplementing some articles of regulation on issuance, use and management of bank identification numbers promulgated together with the Decision No. 38/2007/QĐ-NHNN dated October 30, 2007 of the Governor of the State Bank of Viet Nam

• Name of legal document: Circular No. 26/2019/TT-NHNN issued on 23/12/2019 by the State Bank of Viet Nam amending, supplementing some articles of regulation on issuance, use and management of bank identification numbers promulgated together with the Decision No. 38/2007/QĐ-NHNN dated October 30, 2007 of the Governor of the State Bank of Viet Nam (referred to as the “Circular No. 26/12/2019/TT-NHNN”).

• Effective date: 01/03/2020.

Some contents should be noted:

• Firstly, amending and supplementing the regulation on subjects to be granted BIN[1].

Specifically, Clause 1 Article 1 of Circular No. 26/2019/TT-NHNN stipulates: “Amendments to some Articles of Regulation on issuance, use and management of bank identification numbers promulgated together with the Decision No. 38/2007/QD-NHNN dated October 30, 2007 of the Governor of the State Bank of Viet Nam

1. Article 4 is amended as follows:

“Article 4. Entities to be issued with BINs

Entities to be issued with BIN are organizations allowed to issue cards in accordance with regulations on bank card operations.”” 

• Secondly, amending and supplementing the regulation on procedures for grant of PIN code.

Specifically, Clause 2 Article 1 of Circular No. 26/2019/TT-NHNN stipulates: “Amendments to some Articles of Regulation on issuance, use and management of bank identification numbers promulgated together with the Decision No. 38/2007/QD-NHNN dated October 30, 2007 of the Governor of the State Bank of Viet Nam

…

“2. Article 6 is amended as follows:

“Article 6. Procedures for issuing BINs

1. Any card issuer that wishes to issue a BIN shall submit an application made using the Form No. 01 hereof to the Payment Department affiliated to the State Bank of Vietnam (hereinafter referred to as “SBV”), whether in person or by post or through SBV’s online public service portal.

2. Within 05 working days from the receipt of the satisfactory application form for issuance of BIN, SBV shall decide to issue BIN to the card issuer and notify the card issuer in writing or through SBV’s online public service portal.

3. SBV shall issue only 01 BIN to each card issuer entitled to be issued with BIN.””

1.2. Circular No. 30/2019/TT-NHNN providing on performing the reserve requirement of credit institutions and foreign bank branches

• Name of legal document: Circular No. 30/2019/TT-NHNN issued on 27/12/2019 by the State Bank of Viet Nam providing on performing the reserve requirement of credit institutions and foreign bank branches (referred to as the “Circular No. 30/2019/TT-NHNN”).

• Effective date: 01/03/2020.

Some contents should be noted:

• Firstly, providing on credit institutions which do not perform the reserve requirement.

Specifically, Article 3 of Circular No. 30/2019/TT-NHNN stipulates: “Article 3. Credit institutions do not perform the reserve requirement

1. Credit institutions subject to special control: The time for failing to perform the reserve requirement shall be from the month following the month when credit institutions are decided by the State Bank of Vietnam (hereinafter called the State Bank) under the state of special control, by the end of the month, the credit institution shall be decided by the State Bank to terminate the special control.

2. Credit institutions have not yet opened their operations: The time for not performing the reserve requirement till the end of the month when the credit institutions commence their operation; Credit institutions shall notify in writing to the State Bank (Operation Center) of the operation opening date within 3 working days after the operation opening.

3. The credit institution is approved to dissolve or has a decision to open bankruptcy procedures or has a decision to revoke its license of a competent agency: The time for failing to perform the reserve requirement from the month following the month of the credit institution is approved to dissolve or the decided to open bankruptcy procedures, revoke the valid License; credit institutions that have decision on opening bankruptcy procedures shall send them to the State Bank (Operation Center) for deciding to open bankruptcy procedures within 3 working days after receiving this decision.”

• Secondly, providing on reserve requirement ratios, interest rates on reserve requirement deposits and deposits in excess of reserve requirement

Specifically, Article 6 of Circular No. 30/2019/TT-NHNN stipulates: “Article 6. Reserve requirement ratios, interest rates on reserve requirement and deposits in excess of reserve requirement

1. Reserve requirement ratios for credit institutions

2. a) The Governor of the State Bank shall decide the reserve requirement ratio applicable to each type of credit institution and each type of deposit in accordance with the national monetary policy objectives in each period, except for reserve requirement ratio for Vietnam dong deposit to credit institutions prescribed at Point b of this Clause;

3. b) For credit institutions lending for agricultural and rural development supported by reserve requirement tool, the reserve requirement ratio for Vietnam dong deposits shall comply with the State Bank’s regulations. The State Bank guides the implementation of measures to manage monetary policy instruments to support credit institutions lending for agricultural and rural development.

4. Interest rates of reserve requirement deposits and deposits exceeding the reserve requirement of each type of credit institution and each type of deposit shall be decided by the Governor of the State Bank in accordance with the objectives of national monetary policy in each period.”

1.3. Circular No. 37/2019/TT-NHNN on insurance agents in credit institutions and foreign bank branches

• Name of legal document: Circular No. 37/2019/TT-NHNN issued on 31/12/2019 by the State Bank of Viet Nam on insurance agents in credit institutions and foreign bank branches (referred to as the “Circular No. 37/2019/TT-NHNN”).

• Effective date: 02/03/2020.

Some contents should be noted:

• Firstly, providing on operation of insurance agents in credit institutions.

Specifically, Article 4 of Circular No. 37/2019/TT-NHNN stipulates: “Article 4. Operation of insurance agents in credit institutions

A credit institution with insurance agents may conduct the following activities:

1. Client referral:

The credit institution may refer a client who would like to purchase insurance to the insurance enterprise.

2. Insurance offer:

The credit institution may offer insurance and explain terms and conditions of insurance products to clients who would like to purchase insurance; or offer insurance via electronic or online methods or other methods in compliance with the law.

3. Arranging conclusion of insurance policies:

The credit institution may assist its clients with drawing up insurance policies, receive proposal forms and arrange conclusion of insurance policies as per the insurance agent agreement and regulations of laws on insurance business.

4. Premium collection:

The credit institution may collect premiums from clients on behalf of the insurance enterprise as agreed upon in the insurance agent agreement.

5. Claim settlement upon occurrence:

The credit institution may assist its clients with claim procedures, receive claim forms, transfer premiums received from clients to the insurance enterprise for appraisal, issuance of the compensation decision and claim payment. If authorized by the insurance enterprise, the credit institution may pay out claims directly.

6. Other activities to execute the insurance agent agreement in compliance with regulations of laws on insurance business and as authorized by the insurance enterprise.”

• Secondly, providing on rights and obligations concerning operation of insurance agents in credit institutions.

Specifically, Article 6 of Circular No. 37/2019/TT-NHNN stipulates: “Article 6. Rights and obligations concerning operation of insurance agents in credit institutions

1. Credit institutions hold the rights granted to insurance agents per regulations of laws on insurance business.

2. Credit institutions shall fulfill the obligations imposed on insurance agents per regulations of laws on insurance business and the following obligations:

a) Explain to clients that insurance products distributed via credit institutions are not products of credit institutions;

b) Manage and retain list of their insurance agents as agreed upon in the insurance agent agreement;

c) Provide adequate and accurate information on premiums received, claim payouts and other payments for insurance enterprises as agreed upon in the insurance agent agreement;

d) Return all premiums received to insurance enterprises exclusive of agent’s commissions, claim payments and other payments as per the insurance agent agreement;

dd) Accurately and adequately provide and crosscheck information received from clients with insurance enterprises as prescribed by Article 7 of this Circular (Circular No. 37/2019/TT-NHNN).”

2. LEGAL DOCUMENTS ARE ISSUED IN 02/2020

Decision No. 206/QĐ-NHNN regarding the announcement of new administrative procedures for issuing, amending and supplementing fields of payment activities and other fields of activities permitted in the one-door department of the management function of the State Bank of Viet Nam

• Name of legal document: Decision No. 206/QĐ -NHNN issued on 10/02/2020 by the State Bank of Viet Nam regarding the announcement of new administrative procedures for issuing, amending and supplementing fields of payment activities and other fields of activities permitted in the one-door department of the management function of the State Bank of Viet Nam (referred to as the “Circular No. 206/QĐ-NHNN”).

• Effective date: 10/02/2020.

The contents should be noted: providing on procedures of requesting to be granted identification numbers.

Specifically, sub-section 1 Section 1 Part II promulgated together with Decision No. 206/QĐ-NHNN stipulates:

“PART II. DETAILED CONTENTS OF NEWLY ISSUED AND AMENDED AND SUPPLEMENTED ADMINISTRATIVE PROCEDURES UNDER THE SCOPE OF MANAGEMENT FUNCTIONS OF THE STATE BANK

Section 1. Administrative procedures are implemented at the State Bank of Vietnam

1. Procedures for issuing identification numbers:

– The order of execution:

– Step 1: When wishing to be granted a BIN, the card issuer shall send to the State Bank of Viet Nam (Payment Department) an application for a BIN according to Form No. 01;

– Step 2: Within 05 working days from the date of receiving a completed and valid BIN application, the State Bank of Vietnam shall issue a decision to issue BIN to the card issuer and notify in writing or via the Online Public Service Portal of the State Bank of Viet Nam for the card issuer.

– How to perform:

+ Headquarters of administrative agencies (directly at the One-door Department)

+ By mail (postal service)

+ Through the online public service portal of the State Bank of Viet Nam.

– Components of dossiers: An application for being granted an identification number.

– Number of dossier: 01 set.

– Processing time: 05 working days from the date of receipt of complete and valid dossier.

– Subjects implementing administrative procedures: Card issuer

– Implementing agency: State Bank of Viet Nam (Payment Department)

– Results of the implementation of administrative procedures: Written consent.

– Fee: VND 0

– Name of the application form, declaration form: Form No. 01.

– Requirements, conditions: No.

– Legal grounds of administrative procedures:

– Decision No. 38/2007/QĐ-NHNN dated 30/10/2007 of the Governor of the State Bank of Viet nam promulgating the regulation on issuance, use and management of the bank identification numbers.

– Circular No. 26/2019 / TT-NHNN dated 23 December 2019, amending and supplementing a number of articles of the Regulation on issuance, use and management of bank identification numbers issued together with Decision No. 38/2007/QD-NHNN dated 30/10/2007 of the Governor of the State Bank of Viet Nam.

 Form No. 01

“CỘNG HÒA XÃ HỘI CHỦ NGHĨA VIỆT NAM
Độc lập – Tự do – Hạnh phúc
—————

……, ngày …. tháng …. năm …..

ĐƠN ĐỀ NGHỊ CẤP MÃ TỔ CHỨC PHÁT HÀNH THẺ

Kính gửi: Ngân hàng Nhà nước Việt Nam (Vụ Thanh toán)

– Căn cứ Giấy phép thành lập và hoạt động tổ chức tín dụng/ Giấy phép hoạt động ngân hàng số ……… ngày …… tháng …… năm ……;

– Căn cứ Quyết định số 38/2007/QĐ-NHNN ngày 30 tháng 10 năm 2007 của Thống đốc Ngân hàng Nhà nước Việt Nam ban hành Quy chế cấp, sử dụng và quản lý mã tổ chức thẻ ngân hàng (được sửa đổi, bổ sung bởi Thông tư ……… ngày … tháng … năm … của Ngân hàng Nhà nước Việt Nam).

Đề nghị Ngân hàng Nhà nước Việt Nam xét cấp mã tổ chức phát hành thẻ (mã BIN) cho tổ chức phát hành thẻ:

1. Tên tổ chức phát hành thẻ:

2. Địa điểm đặt Trụ sở chính:

3. Thời gian dự kiến đưa mã BIN vào sử dụng:

4. Tóm tắt mục đích sử dụng mã BIN gắn với sản phẩm thẻ cụ thể:

Sau khi được cấp mã BIN, chúng tôi cam kết đưa mã BIN vào sử dụng trong thời hạn quy định, đúng mục đích sử dụng và chấp hành nghiêm chỉnh Quy chế về cấp, sử dụng và quản lý mã tổ chức phát hành thẻ ngân hàng và xin chịu trách nhiệm về tính chính xác của hồ sơ gửi kèm đơn này.

[1] Bank identification number