| THE STATE BANK OF VIETNAM ------- | SOCIALIST REPUBLIC OF VIET NAM Independence - Freedom - Happiness ---------- |
| No. 09/2010/TT-NHNN | Hanoi, March 26, 2010 |
CIRCULAR
PROVIDING FOR THE LICENSING OF ESTABLISHMENT AND OPERATION OF JOINT-STOCK COMMERCIAL BANKS
THE STATE BANK OF VIETNAM
Pursuant to the 1997 Law on the State Bank of Vietnam and the 2003 Law Amending and Supplementing a Number of Articles of the Law on the State Bank of Vietnam;
Pursuant to the 1997 Law on Credit Institutions and the 2004 Law Amending and Supplementing a Number of Articles of the Law on Credit Institutions;
Pursuant to the 2005 Enterprise Law;
Pursuant to the Government's Decree No. 96/ 200S/ND-CP of August 26. 2008, defining the junctions, tasks, powers and organizational structure of the State Bank of Vietnam;
Pursuant to the Government's Decree No. 59/ 2009/ND-CP of June 16, 2009, providing for the organization and operation of commercial banks;
At the proposal of the director of the Banking Inspection and Supervision Agency,
Chapter I GENERAL PROVISIONS
Article 1. Scope of regulation
This Circular provides for the licensing of establishment and operation of joint-stock commercial banks (referred to as banks for short).
Article 2. Subjects of application
1. Banks defined in Article 1 of this Regulation.
2. Organizations and individuals involved in the licensing.
Article 3. Licensing competence
The Governor of the State Bank of Vietnam shall decide on the licensing under this Circular and relevant laws.
Article 4. Interpretation of terms
In this Regulation, the terms below are construed as follows:
1. License means the license for the establishment and operation of a commercial bank.
2. Bank establishment-preparation board (referred to as preparation board for short) is an organization whose members are elected by founding shareholders to represent them in performing jobs involved in the licensing application. The preparation board has at least 5 members, including its head.
