LEGAL UPDATE RELATING TO FINANCE AND CREDIT (MONTHLY LEGAL UPDATE – 03/2026)

1. Legal documents are issued in 02/2026

1.1. Decision No. 223/QD-BTC promulgating the announcement of newly issued administrative procedures in the field of the domestic carbon exchange under the management functions of the Ministry of Finance

• Name of legal document: Decision No. 223/QD-BTC dated 03/02/2026 issues by the Ministry of Finance promulgating the announcement of newly issued administrative procedures in the field of the domestic carbon exchange under the management functions of the Ministry of Finance (hereinafter referred to as “Decision No. 223/QD-BTC”).
• Effective date: 03/02/2026.

The content should be noted: Newly promulgates the Procedure for approval of commercial banks to act as settlement banks as listed in Section I.1 of the newly issued administrative procedures in the field of the domestic carbon exchange promulgated together with Decision No. 223/QD-BTC.

2. Legal documents are effective in 03/2026

2.1. Circular No. 25/2025/TT-NHNN on amendments to a number of articles of Circular No. 17/2024/TT-NHNN on opening and use of payment accounts at payment service providers

• Name of legal document: Circular 25/2025/TT-NHNN dated 31/08/2025 issues by the State Bank of Vietnam on amendments to a number of articles of Circular No. 17/2024/TT-NHNN on opening and use of payment accounts at payment service providers (hereinafter referred to as “Circular No. 25/2025/TT-NHNN”).
• Effective date: 31/08/2025.

The content should be noted: Account opening and use agreement.

Specifically, Article 4 and Clause 2, Article 15 of Circular No. 25/2025/TT-NHNN stipulates: “Article 4. Addition of Point c1 after Point c Clause 1 Article 13

“c1) Payment account number and payment account name. The payment account name shall be designated as follows:

(i) For an individual payment account, the payment account name shall be designated according to the full name on the customer’s identity documents;

(ii) For an organizational payment account, the payment account name shall include the name of the organization stated on the establishment license, establishment decision, enterprise registration certificate, or documents proving lawful establishment and operation;

(iii) For a joint payment account, the payment account name shall be designated by the bank or foreign bank branch on the basis of reflecting the names of the payment account holders and must not coincide with the payment account names of other individuals or organizations.”.”.

“Article 15. Entry into force

…

2. Article 4 of this Circular comes into force as of March 1, 2026.”.

2.2. Circular No. 59/2025/TT-NHNN regulating the provision and use of specialized electronic signatures and specialized electronic signature certificates of the State Bank

• Name of legal document: Circular No. 59/2025/TT-NHNN dated 29/12/2025 issues by the State Bank of Vietnam regulating the provision and use of specialized electronic signatures and specialized electronic signature certificates of the State Bank (hereinafter referred to as “Circular No. 59/2025/TT-NHNN”).
• Effective date: 01/03/2026.

The content should be noted: Extension and change of information contents of electronic signature certificates.

Specifically, Article 10 of Circular No. 59/2025/TT-NHNN stipulates: “Article 10. Extension and change of information contents of electronic signature certificates

1. Conditions for extension and change of information contents of electronic signature certificatesa) The electronic signature certificate must remain valid;b) The subscriber management organization must submit a dossier requesting the extension or change of the information contents of the electronic signature certificate at least 10 days before the expiration of the electronic signature certificate.
2. Validity period of electronic signature certificatesa) The validity period of the electronic signature certificate shall be calculated from the time the subscriber successfully performs the extension. In case the requested extension period exceeds the remaining validity period of the original electronic signature certificate of the State Bank, the validity period of the extended electronic signature certificate shall be the remaining validity period of the original electronic signature certificate of the State Bank;b) The change of information contents of the electronic signature certificate shall not change the validity period of the electronic signature certificate.
3. Cases of change of information contents of electronic signature certificatesa) The subscriber changes title or position;b) The subscriber changes information on address, email, telephone number, or passport;c) The subscriber changes the working department (division/section) but does not change the unit/branch. In case the subscriber changes to another working unit/branch, the subscriber management organization shall carry out the procedure for revocation of the electronic signature certificate at the former working unit/branch and issue an electronic signature certificate at the new working unit/branch for the subscriber (if there is a demand for continued use);d) In case the policy on restructuring the state organizational apparatus or reorganizing administrative units at all levels results in the need to change the information of the subscriber’s electronic signature certificate, the Information Technology Department shall send a notification to the subscriber management organization and carry out the change of the subscriber’s electronic signature certificate information.
4. The subscriber management organization shall send 01 (one) dossier requesting the extension or change of information contents of the electronic signature certificate for the cases specified in Points a, b, c Clause 3 of this Article, including the Application for extension or change of information contents of the electronic signature certificate according to Appendix III issued together with this Circular.
5. Time limit for settlement and implementation results

Within 02 working days from the date of receipt of a valid dossier requesting the extension or change of information contents of the electronic signature certificate, the Information Technology Department shall carry out the extension or change of the electronic signature certificate for the subscriber.

Within 01 working day from the date of receipt of the dossier, if the dossier is invalid, the Information Technology Department shall refuse to process the dossier and clearly state the reason. The feedback information and the results of dossier processing shall comply with the provisions in Clause 3 Article 6 of this Circular.

Upon receiving the notification of approval for the extension of the electronic signature certificate, the subscriber shall perform the extension of the electronic signature certificate in accordance with the guidance documents on activation and extension of electronic signature certificates published on the State Bank’s electronic information portal.”.”.

2.3. Circular No. 77/2025/TT-NHNN amending and supplementing some articles of Circular No. 50/2024/TT-NHNN of the Governor of the State Bank of Vietnam providing for security and confidentiality during provision of online banking services

• Name of legal document: Circular N 77/2025/TT-NHNN dated 31/12/2025 issues by the State Bank of Vietnam amending and supplementing some articles of circular no. 50/2024/TT-NHNN of the Governor of the State Bank of Vietnam providing for security and confidentiality during provision of online banking services (hereinafter referred to as “Circular No. 77/2025/TT-NHNN”).
• Effective date: 01/03/2026.

The content should be noted: Transaction authentication.

Specifically, Article 6 of No. 77/2025/TT-NHNN stipulates: “Article 6. Amending and supplementing some points and clauses of Article 10

1. Point a clause 1 of Article 10 is amended and supplemented as follows:

“a) For payment transactions using checking accounts or e-wallets or mobile money accounts or money transfer transactions from debit cards or identified prepaid cards, the unit shall classify transactions by their type specified in the Appendix 01 to this Circular and apply the authentication form specified in the Appendix 02 to this Circular, except for the regulations set out under points b, c, d and dd of this clause;”.

2. Point d clause 1 of Article 10 is amended and supplemented as follows:“d) For transactions in which the unit automatically debits checking accounts, automatically debits e-wallets, automatically debits mobile money accounts or automatically makes payments from the clients’ cards as agreed upon with clients, the transaction authentication specified in points a and c clause 1 of this Article is not required;”.

3. Clause 2 of Article 10 is amended and supplemented as follows:

“2. For services registered for automatic payments from checking accounts, e-wallets, mobile money accounts and cards of clients, the unit must apply at least one of the authentication forms specified in clauses 3, 4, 5, 7, 8 and 9 Article 11 of this Circular.”.”.

2.4. Decree No. 357/2025/ND-CP on development and management of the information system and database on housing and real estate market

• Name of legal document: Decree N 357/2025/ND-CP dated 31/12/2025 issues by the Government of Vietnam on development and management of the information system and database on housing and real estate market (hereinafter referred to as “Decree No. 357/2025/ND-CP”).
• Effective date: 01/03/2026.

The content should be noted: The State Bank of Vietnam shall cooperate and share information and data on credit in the real estate.

Specifically, Clause 4, Article 28  of No. 77/2025/TT-NHNN stipulates: “4. The State Bank of Vietnam shall cooperate and share information and data on credit in the real estate including:

a) Outstanding credit for investment and business in real estate activities including credit outstanding for investors to invest in construction, repair of houses for sale, lease, or lease-purchase; credit outstanding for investment in construction, purchase, lease of offices and high-rise buildings for sale, lease, or lease-purchase; credit outstanding for investment in technical infrastructure, construction works in industrial zones, industrial clusters, export processing zones, high-tech zones, economic zones for sale, lease, or lease-purchase; credit outstanding for investment in construction, purchase, lease of tourism, ecological, resort areas for sale, lease, or lease-purchase; credit outstanding for investment in construction, purchase, lease of restaurants, hotels for sale, lease, or lease-purchase; credit outstanding for customers buying or leasing houses for sale or lease; credit outstanding for customers buying, transferring, or leasing land use rights for business; credit outstanding for other real estate business investments;

b) Outstanding balance of off-plan housing guarantees;

c) Total credit outstanding in the real estate business;

d) Proportion of credit outstanding for real estate business activities compared to total credit outstanding in the entire economy (%).”.

2.5. Decision No. 151/QD-NHNN promulgating the announcement of amended, supplemented, and abolished administrative procedures in the field of banking information technology activities implemented at the one-stop division under the management functions of the State Bank of Vietnam

• Name of legal document: Decision No. 151/QD-NHNN dated 02/02/2026 issues by the State Bank of Vietnam promulgating the announcement of amended, supplemented, and abolished administrative procedures in the field of banking information technology activities implemented at the one-stop division under the management functions of the State Bank of Vietnam (hereinafter referred to as “Decision No. 151/QD-NHNN”).
• Effective date: 01/03/2026.

The content should be noted: Amendment and supplementation of the Procedure for restoration of the electronic signature certificate as listed in Section I.1.4 of the amended, supplemented, and abolished administrative procedures in the field of banking information technology activities under the management functions of the State Bank of Vietnam promulgated together with Decision No. 151/QD-NHNN.

2.6. Circular No. 81/2025/TT-NHNN regulating discounting activities of credit institutions and foreign bank branches for customers

• Name of legal document: Circular No. 81/2025/TT-NHNN dated 31/12/2025 issues by the State Bank of Vietnam regulating discounting activities of credit institutions and foreign bank branches for customers (hereinafter referred to as “Circular No. 81/2025/TT-NHNN”).
• Effective date: 02/03/2026.

The content should be noted: Types of negotiable instruments and other valuable papers eligible for discounting.

Specifically, Article 5 of Circular No. 81/2025/TT-NHNN stipulates: “Article 5. Types of negotiable instruments and other valuable papers eligible for discounting

1. Credit institutions may choose to discount the following negotiable instruments:a) Bill of exchange;b) Promissory note;c) Cheque;d) Other negotiable instruments eligible for discounting in accordance with the provisions of law.
2. Credit institutions may choose to discount the following other valuable papers:a) State Bank bills;b) Government bonds;c) Government-guaranteed bonds;d) Local government bonds;đ) Certificates of deposit and bonds issued by credit institutions in accordance with the provisions of law;e) Bonds issued by other organizations and eligible for discounting in accordance with the provisions of law.”.”.