CIRCULAR guide implementation of Decree No. 28/2005/ND-CP dated 9 March 2005 by the Government on the organisation and operation of small-scale financial institutions in Vietnam and Decree No. 165/2007/NĐ-CP on 15 November 2007 the Government amended and supplemented, to annul some articles of Decree No. 28/2005/ND-CP dated 9 March 2005 from the Government of Organization and operation of small-scale financial institutions in Vietnam On 9 March 2005, the Government issued Decree No. 28/2005/ND-CP on the Organization and operation of small-scale financial institutions in Vietnam and on November 15, 2007, the Government issued Decree No. 165/2007/ND-CP amending Supplement, abolish a number of articles of Decree No. 28/2005/ND-CP on. Governor of State Bank of instructions made some specific content as follows: i. GENERAL PROVISIONS 1. Scope and object 1.1 application. This circular instruction made some content stipulated in Decree No. 28/2005/ND-CP dated 9 March 2005 on the Organization and operation of small-scale financial institutions in Vietnam (hereinafter referred to as the Decree No. 28/2005/ND-CP) and Decree No. 165/2007/ND-CP on November 15, 2007 amendments Supplement, abolish a number of articles of Decree No. 28/2005/ND-CP (hereinafter referred to as the decree 165/2007/ND-CP).
1.2. Except as otherwise provided in this circular and the specific legal provisions are concerned, the provisions of the law on enterprises, the credit institutions Act apply with respect to the Organization and operation of small scale financial institutions.
2. Explanation of terms In this circular the terms below are interpreted as follows: 2.1. Small scale credit: is small-value loans, with or without guarantee for individuals, low income households for use in activities generating income and improving living conditions. Loan for a client called small scale credit when the total outstanding loans of financial institutions in small scale for customers that do not exceed thirty million. The level of this loan can be the Governor of the State Bank adjusted according to each period.
2.2. Executive: includes Director-General (Executive Director), the Vice President (VP), Chief Accountant, Chief Internal Auditor (if any) and other executive titles because of the small scale financial institution regulation.
2.3. The Manager: includes owners, members of the Conference members, the Chairman and members of the Management Board, ceo (Director) and other management titles due to Charter a small scale financial institution regulation.
2.4. direct relatives of a person who is the spouse, father, father, mother, mothers, children, adopted children, brothers, siblings of that person.
2.5. non-governmental organizations: Vietnam is the organization established and operated according to Decree No. 88/2003/ND-CP on 30/7/2003 of government regulation on the Organization, operation and management of the Association.
2.6. Water resources of foreign capital contribution side: is the country where foreign organizations established or registered headquarters, or is the country where individuals are registered foreign nationality.
2.7. foreign individuals, organization: organization is established under the foreign law or registered headquarters abroad, foreigners, Vietnam people settled abroad.
2.8. the authorized representative: the personal is the party which is authorized in writing to the name they made their rights in small scale financial institutions.
2.9. Founding Member: a member (individual, organization), which is involved in construction, adopted and signed the Charter of the first small scale financial institutions.
2.10. Reorganization: the split, split, merge, merging, acquisition or conversion from form a limited liability company members to form limited liability company two members and vice versa.
3. Types of small-scale financial institutions financial institutions small scale was established in the form of limited liability company, responsible for the debts, obligations to other assets of the small scale financial institutions within the capital of the small scale financial institution particular, the following: 3.1. Small scale financial institutions in the form of a limited liability company members: is small scale financial institutions due to a social-political organization of Vietnam as owners.
3.2. Financial institutions small scale in the form of limited liability company two members: is small scale financial institution founded with capital of two or more organizations subject to the provisions in clause 2 article 1 Decree No. 28/2005/ND-CP or by capital of one or more organizations with one or more individuals and other organizations in Australia and overseas; small scale financial institution has a number of members which do not exceed five members, unless the Governor of the State Bank allowed.
4. Use of the term "small scale financial institution \" Only the small scale financial institutions are state-licensed bank established and new activities are allowed to use the term "small scale financial institution" in any language in your organization name, job title, or be used as part of the name the title, or is present in the header text, Bill, notice, advertisement or description of business activities.
5. Capital 5.1. Charter capital of small scale financial institutions contribute by cash or kind.
a capital contribution) by money:-for members, which is the Organization, Vietnam: personal capital was contributed by Vietnam Dong;
-For members, which is the Organization, foreign individuals: registered capital can be contributed by foreign currencies freely convertible or in Vietnam. The case held, foreign individuals raising capital in foreign currency freely convertible, capital contribution amount must be converted the Vietnam according to the exchange rate announced by the State Bank at the time of conversion.
b) capital contribution in kind: artifacts are the property have legal papers to prove ownership or use rights (for land) and the property served directly for the activity of small scale financial institutions. The valuation and transfer of ownership of the property, which is done according to the current rules of the law of Vietnam. Capital to be contributed in the form of exhibits must not exceed 5% of the total capital stock of small scale financial institutions.
5.2. for the Organization had financial operational scale before this circular has the effect, which the organisation is determined to count on capital of small scale financial institutions. Own capital of this Organization include: which had been granted, which has been funded, which had contributed, donation or have properties such as donations, funds (additional capital reserve fund, reserve fund, finance Professional Development Fund) and non profit Division, after deducting the losses , including the losses accumulated. State Bank determine which letters of the organization based on the following documents: a) records, proof of the receipt of capital, capital contribution and/or other equivalent material;
b) financial statements audited by an independent auditing organization in the list of audit organization has been the Finance Ministry Announces audit standard business in the six month period before filing and records suggest established small scale financial institution;
c) commitment of people (who) suggested application stand on own capital of the Organization at the time of filing and the commitment to the timely notification to the Bank about any changes would affect the value of own capital until the licensee establish small-scale financial institutions;
d) comments of the Inspector of the State Bank on the situation of resources of this organization.
6. The rate and method of capital contribution rate and the method of capital contribution of members, which in small scale financial institutions in the form of limited liability company, two members by the parties to the agreement and has to be clearly stated in the Charter. Ratio of capital contribution must ensure compliance with the provisions of the following: 6.1. The total capital of organizations, foreign individuals are below 50% of the capital stock of small financial institutions, except special cases due to the Prime Minister to decide.
6.2. The total amount of capital contributed by the institutions subject to the provisions of clause 2, article 1 Decree No. 28/2005/ND-CP must reach the minimum rate is 25% and is the highest rate of capital contribution in comparison with each Member contributing the remaining capital.
7. Transfer of shares 7.1. For small scale financial institutions in the form of a limited liability company members: the owner may transfer all or part of his capital for the Organization, the other individual or transfer the entire amount of capital contributed to the social-political organization on the condition that Vietnam must ensure compliance with the conditions prescribed in paragraph 7 , Article 8, Decree 28/2005/ND-CP (amended and supplemented as specified in clause 5, article 1, decree 165/2007/ND-CP).
The case after the transfer, capital of the small scale financial institutions are owned by two members, which is over, small-scale financial institutions which are transformed into small-scale financial institutions in the form of limited liability company two members and must comply with the rules applicable to the type of this organization.
7.2. for small scale financial institutions in the form of limited liability company two members: the members had either in small scale financial institution is entitled to transfer part or the entire portion of its capital according to the following rules: a) Must transfer that stake for parties which are left in the small scale financial institutions according to the exchange rate rate corresponding to their shares in the organization with the same conditions;

b) Only be transferable to other private organizations if the parties had left in small scale financial institution not to buy or not to buy out within thirty days from the date of offer. The assignment for the Organization, the individual is not the party which remains of small scale financial institutions must be made under preferential conditions than the conditions prescribed in point 7.2, a clause.
7.3. The transfer of the capital to be State Bank approval prior to implementation.
8.8.1 profit split. The capital contribution of members in small scale financial institution Division of profit in proportion to capital contributed by each of the members, unless the members have agreed otherwise in writing.
8.2. The Conference members (owners) can agree in writing on the undivided profits used in part or the whole of the profits to increase capital letters.
8.3. The principle of dividing the profits must be defined in terms of small scale financial institutions.
II. REGULATIONS ABOUT LICENSING Of ESTABLISHMENT And OPERATION For SMALL SCALE FINANCIAL INSTITUTIONS 9. Conditions to be granted a license to establish and operate (licence) 9.1. There is demand for small scale financial operations.
9.2. The opinion of the provincial people's Committee, the central cities where planned stationing of small-scale financial institutions of the need to establish this organization in the area.
9.3. Have minimum capital equal to the level of capital stipulated in item 2 article 1 of decree 165/2007/ND-CP. 9.4. Based work and infrastructure, systems, information technology ensures the operation of small scale financial institutions.
9.5. Administrators, operating control and sufficient capacity for civil acts and has suited professional activities of small scale financial institutions.
9.6. Have a viable business in the first three years of operation.
9.7. for small scale financial institutions established in the form of limited liability company two members: must have at least one of the members, which is held in the object prescribed in clause 2 article 1 Decree No. 28/2005/ND-CP of the Government meet the following conditions : a) directly involved in the management and/or operate one or more organizations, programs, and projects that provide services to receive mandatory savings and small scale credit supply in Vietnam for three years prior to applying for a license;
b) prove the governance, control and safety, sustainable operating against small-scale finance activities in time for at least a year before the time of filing the licensing proposal, in particular:-the rate of borrowing total outstanding customers who have overdue debt on total outstanding loans of financial institutions in small scale (PAR) under five percent 5%;
-Gross income from financial activities on small scale sufficient to offset the costs, including financing costs, administrative expenses and deductions established credit risk prevention.
c) is not the object being considered handling administrative violations in the field of finance, currency or have dealt with administrative violations in the field of finance, monetary but did fix violations before applying for a license for at least a year;
d) shares in small scale financial institutions must reach the rate as stipulated in item 6 points 6.2 to this circular.
9.8. for small scale financial institutions established in the form of a limited liability company members: the owner must be a socio-political organization is established and legitimate activities in Vietnam meet the conditions specified in point 9.7 Properties a, b, c of this paragraph except for special cases to be prime.
9.9. for small scale financial institutions invested abroad: in addition to the conditions specified in point 9.1 to 9.7, members of foreign capital contribution shall be the competent authority of the country of origin allow raw capital contribution established small scale financial institutions in Vietnam.
10. Profile 10.1 license proposal. The recommended single license (Appendix 1): a) for small scale financial institutions established in the form of a limited liability company members: due to the legal representative or the authorized representative of the social-political organization;
b) for small scale financial institutions established in the form of limited liability company two members: due to the founders or the authorized representative of the founder members.
10.2. The draft Charter: Charter of small-scale financial institutions is the primary text defines the organizational structure, management, administration of small scale financial institutions. The first Charter of the small scale financial institution must be the owner or founder members passed and signed. The content of the Charter is consistent with the provisions of the law and to have the main content as follows: a) the name of the small scale financial institution;
b) head office address;
c) the content and the scope of its main activities;
d) capital and capital contribution method;
DD) rights and obligations of the owner or the members raising capital;
formula e) elected, appointed, dismissed members of the Management Board, ceo (Director) and Control Board;
g) the duties and powers of the Conference members, the Management Board, supervisory board and General Director (Director);
h) representative under the law of small scale financial institution;
I) the principles of finance, accounting, auditing, internal control, internal audit, risk management, reporting and public information;
k) and profit split method handles a loss of small scale financial institution;
l) procedures for resolving internal disputes;
m) additional amendments procedure;
n) cases of dissolution and dissolution procedures;
o) the signature of the owner (for small scale financial institution a member) or all the founder members (for small scale financial institutions have two members).
10.3. operational projects in the first three years, which stated: a) the objectives of the small scale financial institution;
b) expected activity areas; estimated location set the branch (including all of the new branch and/or existing affiliates for those held there were small scale financial operations);
c) criteria for small scale financial clients and expected number of individuals, households and satisfy the criteria in the area of expected operations;
d) of products and services is expected to provide small scale financial customers, other customers and the expected conditions, rules for each product, the service;
DD) Organization and personnel expected;
e) information and communication technologies will use;
g) risk management system, including systems testing, internal control and internal audit;
h) asset balance sheets, profit/loss statements, forecasting loan portfolio for the next three financial years;
I) social impact expected of financial institutions on small scale.
10.4. The opinion of the provincial people's Committee, the central cities where planned stationing of small-scale financial institutions of the need to establish this organization in the area.
10.5. a) for small scale financial institutions established in the form of limited liability company two members: founding members list, the level of equity (note the capital in Vietnam, in foreign currency, with other assets and the capital contribution rate of each member) capital contribution projects (clearly progress capital contribution method, ...), the commitment made by the founding members and the enclosed documents:-for founding member is personal: + copy identity card, passport or other legal personal certificate;
+ Resume (Appendix 2 attached);
-For founding members are organizations that are established and operated in Vietnam: + a copy of the decision or the license to establish and operate, or other equivalent document proving the establishment and legal activities in Vietnam;
+ Business registration certificate (for business);
+ The authoritative text, ID card, passport or other legal personal certificate of authorized representative;
+ Current conditions or other equivalent material;
+ Report on the situation of the Organization's activities in the most recent three years;
+ Some other necessary information are relevant: the purpose of which is to establish small-scale financial institutions; systems administrator, operating, system, internal control and internal audit;
+ An affidavit detailing all activities investigated or prosecuted for organized or clearly not being investigated or prosecuted within ten years;
+ An affidavit stating about the capital or holding shares of the founder members in the credit institutions and other enterprises;
The case if the founder members are subsidiaries of a corporation, to provide information on the scope of the Group's main activities included the Group's organization chart and detailed in the case of corporations raising capital and/or holding shares in other credit institutions.
-For founder members are foreign organizations: in addition to the papers prescribed as for founding members are organizations that are established and operating in Vietnam in a Weather clause 10.5 Points, foreign organizations must submit: + business registration certificate or other equivalent documents are certified by the Agency where the Organization has registered no more than three months ago on applying for establishment and operation of small-scale financial institutions;
+ Text of foreign agencies have the authority to allow foreign individual, organization was raising capital to establish small-scale financial institutions in Vietnam. The case of the raw water of regulations does not require the approval of organization, that individual must explain clearly the time to commit to responsible for the authenticity of this explanation.
b) for small scale financial institutions established in the form of a limited liability company members:-a copy of the decision or the license to establish and operate, or other equivalent document proving the establishment and legal activities in Vietnam;

-The authoritative text, ID card, passport or other legal personal certificate of authorized representative;
-The Charter or other equivalent material;
-Some other necessary information are relevant: the purpose of which is to establish small-scale financial institutions; systems administrator, operating, system, internal control and internal audit.
10.6. List, curriculum vitae (annex 2) and a copy of the degree certificate, certification, qualification of the members of the Management Board, supervisory board, General Director (Manager) of small scale financial institutions.
10.7. In addition to the profile specified in point 10.1 to 10.6 this clause, the organization applying for the establishment of small scale financial institutions to supplement the reports, documents related to the small scale financial services are provided to the client are as follows: a) report summary of organizational structure , branch network, the financial situation and the services currently provided to customers;
b) the report of the most recent financial year two has been audited by an independent auditing organization;
c) situation report activity and the performance of each branch is expected to recommend the State Bank allowed to continue operating after license;
d) papers, documents prove the capital letters according to the rules in paragraph 5 point 5.2 properties a, b, c of this circular.
10.8. State Bank of additional information is required when deem it necessary to clarify the issues related to the conditions to be licensed.
11. Regulations on licensing proposal records 11.1. Recommended records issued licenses for small scale financial institution that founding members are organizations, individuals must Vietnam was established by two Vietnamese.
11.2. the recommended records licensed for small scale financial institutions have founding members are organizations, foreign individuals are established as three sets, including two Vietnamese and a degree in English.
11.3. The documents in the file specified in point 11.1, 11.2 this clause must be the originals or copies under the regulations are as follows:-a copy of the papers, the text was established abroad must be certified by the competent person or agency as defined in that country;
-The translation of papers, text from English to Vietnamese to attest the signature;
-Copies of papers, Vietnamese text must be given a copy from the original book or the certified copies from the originals;
-The text is created in foreign countries must be legalized consuls include: the text by the competent authority in the country of origination levels prove legal status of the Organization, foreign individuals involved had established small scale financial institution (license , business registration certificate, personal certificate or other equivalent document); the text of the foreign competent authority allow organizations, foreign individuals are involved, which founded the small scale financial institutions in Vietnam or a pledge that the country of origin of the resource organization, foreign individuals do not prohibit or limit the capital contribution to the establishment of small scale financial institutions in Vietnam.
12. The sequence and duration of licensing review 12.1. Within thirty working days from the date of the application for grant of licence specified in Clause 10 and 11 of this circular, the Bank confirmed in writing to the licensing application about the validity of the profile or message about the papers , need additional documents.
12.2. within sixty days from the date of the full documents, State Bank review and the decision to grant or refuse to grant the license. The case of disapproval, the State Bank have text stating the reason.
13. content license and modify, supplement the license content 13.1. The content and form of the license according to the form prescribed in Appendix 3 attached.
13.2. Any amendments and supplements the content license by the State Bank of the decision in writing. The decision of the State Bank of the amendments and supplements the content license is an integral part of the license.
14. Business registration after being licensed, small scale financial institution must register the business under the provisions of the current law on business registration. Small scale financial institutions have legal personality from the day was granted the certificate of business registration.
15. opening conditions 15.1 activities. Within twelve months from the date of license, small scale financial institutions licensed to do the procedures necessary to have enough active opening conditions below: a) Charter is the standard State Bank y;
b) Have the business registration certificate;
c) has enough capital according to the provisions in Clause 9.3 points 9 of this circular and have its headquarters consistent with operational requirements;
d) licensing fees fully according to the regulations of the Ministry of finance;
DD) capital contributions of money shall be deposited into the account blocked do not enjoy the open interest in State Bank branch in the central cities, where small scale financial institution headquartered before launching the operation a minimum of thirty days. This capital is only clear after financial institutions opened a small scale operation.
This provision does not apply to the part which was contributed by which the Organization has been providing financial services to the small scale in Vietnam.
e) transfer ownership of the property or other capital contribution of land use (if any) for small scale financial institutions.
g) before the scheduled opening of the minimum thirty day activities, small-scale financial institutions must inform in writing on the opening day of the official activities for the State Bank, the business registration agency and the provincial people's Committee, the city where small scale financial institution headquartered.
h) before the scheduled opening of the minimum activity twenty days, small scale financial institution must post the local newspapers where the head office or central alarm by Vietnamese in three consecutive number on the main content as follows:-full name and trading name of small scale financial institution;
-Address of Head Office; the phone number and other means of communication;
-Charter capital;
-The content, scope, and duration of the activity;
-The number and date of license; number and date of the certificate of business registration; Agency name;
-Full name of the President and the members of the Management Board, head of Department and member of the Board, General Director (Director);
-Opening expected activity;
-Other content if small scale financial institution deemed necessary.
15.2. Before opening the activity for at least fifteen days, small scale financial institutions must submit to the Bank the following documents: a) the verification of documents of capital contributions already paid money into the account blocked and legal records to confirm the transfer of property ownership or other rights to use capital contribution (for property is the land) for small scale financial institution according to the rules of the law of Vietnam.
This provision does not apply to the part which was contributed by the capital letters of the Organization have been small scale financial operations in Vietnam. Small scale financial institution must send the State Bank report on the situation of resources and uses of capital founders mentioned above at the time of the most recent last month; reports on the number of capital letters and the commitment by the Chairman of the Board, General Director (Manager) of small scale financial institutions about the authenticity of these reports.
b) certificate from the licensing fees;
c) business registration certificate;
d) text, documents proving ownership or the right to use the headquarters;
alarm numbers) has posted the notice of establishment of small scale financial institutions.
The text, the document must be originals or copies as stipulated in Decree No. 79/2007/ND-CP dated 18/5/2007 on the copies from the original book, certified copies from originals, certified signatures.
15.3. the expiry of twelve months specified in this Clause 15.1 points, if small scale financial institution is not active then opened the license will expire. The State Bank will proceed with revoking the license was issued and the refund procedure which posted in account blockade (if any) after deducting the cost of prescribed procedures.
16.16.1 license renewal. Least sixty days before the expiration date of the license, small scale financial institution must submit the State Bank records suggest the extension of the license. Records suggest the extension include: a) renewal application submitted to State Bank Governor by the Chair of the Board;
b) text of the Conference members (owners) unanimously recommended the renewal of the license;
c) resolutions of the Management Board about the renewal of the license;
d) situation report activity in three years due to the Chairman of the Board, which stated the results of activities, the implementation of the operational safety standards prescribed by the State Bank, network activity, the kinds of customers served, the number of clients of members social impact assessment, that the operation of the organisation brings, summarizing the goals achieved and not achieved versus planned and expected operational strategy the next time;
DD) active approach is expected in the first three years after the renewal of the licence, stating the issues as defined in paragraph 10 of point 10.3 of this circular.
e) other documents (if necessary) in order to clarify the contents in point 16.1 properties a, b, c, d, e on here.
16.2. within thirty days from the date of the application to renew the proposal in clause 16.1, the State Bank will review the decision to approve or to refuse to renew the licence for small scale financial institutions. The case rejected the extension, State banks have text explaining the reason.
16.3. The extension of the time limit for the operation because the State Bank review each time. Each extension of the maximum time limit for the operation specified in the license.

16.4. within fifteen working days from the date the license was renewed activity, small scale financial institution to the central or local newspapers in the three consecutive number the contents as specified in clause 15 15.1 h weather point of this circular.
17. in licensing fees and renewal fees 17.1 activity period. The level of the fee for each license renewal fees and time limits for small scale financial institution is made according to the regulations of the Ministry of finance.
17.2. within fifteen days from the date licensee, small scale financial institution fees at State Bank.
17.3. the fees specified in this Clause 17.1 points were not deducted from capital and is non-refundable in any circumstances.
III. ORGANIZATIONAL STRUCTURE, Management, Administration And CONTROL 18. Organizational structure of small scale financial institution has two members and over 18.1. The Conference members include all the members, which is the competent agency and the decision of the small scale financial institutions.
18.2. small scale financial institution is administered by the Board. The Board has the right to the name of the small scale financial institution to decide, make the rights and obligations of small financial institutions, except for the issues under the authority of the meeting of the members of the small scale financial institutions. The Board consists of the Chairman, Deputy Chairman and members. The term of the Board for a maximum of five years.
18.3. The Board of small scale financial institution must have at least three members. The number of members of the Management Board will decided by the members meeting and be recorded in terms of small scale financial institutions.
18.4. The Board of small scale financial institution must report and responsible to the Conference members about business results of small scale financial institutions.
18.5. the Control Committee has the task of checking the financial operations, monitoring the observance of accounting mode, the safety in operation of small scale financial institution, performing internal audit to evaluate status of business activities and the financial situation of the small scale financial institutions. The term of the Supervisory Board for a maximum of five years.
18.6. Control Board must have at least three members, which must have a person's head and at least half of the members are professional. Case control board only three members, the minimum required a dedicated members. The number of members of the Supervisory Board by Conference members and the decisions set forth in the Charter of the small scale financial institutions. Head of control must reside in Vietnam during the current period of 18.7. Control Board must report to the Board of small scale financial institutions and responsible to the Board and members, which is about the performance of his duties and rights.
18.8. the Director-General (Director) is responsible for operating the day-to-day business operations of small scale financial institutions. General Manager (the Director) to report and be accountable before the law and the Board of small scale financial institutions. General Manager (Director) must reside in Vietnam during the incumbent.
18.9. One or more Vice President (VP) help the Director-General (Executive Director) in the management of the daily operations of small scale financial institutions and shall report, responsible to the General Manager (Director) about the work assigned. Vice President (VP) must reside in Vietnam during the incumbent.
18.10. Chief Accountant help General Manager (the Director) in the accounting, accounting, bookkeeping and retention is responsible under the provisions of the relevant laws. Chief Accountant must reside in Vietnam during the incumbent.
18.11. small scale financial institutions to set up systems of internal control, test and implement regulations on auditing, internal control under section 4 of chapter II of the law on credit institutions.
19. Organization structure of financial institutions small scale one Member limited liability 19.1. Owners of small scale financial institutions appointed one or several representative authorized to execute rights and obligations under the provisions of the law. The owner has the right to replace the authorized representative. The case has at least two who are appointed as representatives by the Conference delegation members include all of the authorized representative.
19.2. The regulations from 18.2 points to 18.11 points Account 18 of this circular is applicable to financial institutions in a small scale one-Member limited liability. The case of the owners to appoint an authorized representative, the representative has full permissions to perform all of the powers specified in Paragraph 18.1 point 18 of this circular and the other general rights and obligations of the members, which is in a small scale financial institutions have two members.
20. legal representative Chairman of the Board or the Director-General (Executive Director) is the legal representative of the small scale financial institution as defined in the Charter of the small scale financial institutions. Legal representative of small-scale financial institutions must often stay in Vietnam; the case is absent in Vietnam on fifteen days they must authorize in writing another person as prescribed in the Charter of the Organization of small-scale finance to implement the rights and obligations of the legal representative of the small scale financial institutions.
21. These cases are not at the same time position 21.1. Chairman of the Board of a small scale financial institution: a) are not involved in the Management Board, supervisory board or join the Executive apparatus of the small scale financial institutions, other credit institutions;
b) Not be concurrently serving as Chief or a member of the Board of control of small-scale finance organization;
c) was not at the same time as the operator of small scale financial institutions.
21.2. the Head of a small scale financial institution: a) are not at the same time as the Manager of small scale financial institution;
b) is not a direct relative of the Manager of small scale financial institutions.
21.3. General Manager (Director) of small scale financial institutions were not as ceo (Director) or the Chairman of the Board of small financial institutions, other credit institutions.
22. The level of expertise of the members of the Management Board, supervisory board and management officials 22.1. Members of the Management Board and Supervisory Board of small scale financial institution must have the skills, knowledge, abilities or experience required to perform the powers and complete his duties efficiently.
22.2. At least one member of the Board of control of small scale financial institution must be an expert in accounting and/or finance have good understanding of the standards and regulations related to audit, accounting and finance; Bachelor of accounting and/or audit and/or finance and must have at least two years working experience in the relevant fields in the position of Auditor, and/or accountant, and/or financial professionals (case no college degree, must have at least five years working experience in management position involving financial sector scale small).
22.3. the Director-General (Executive Director), the Vice President (VP), head of internal audit (if any) and Chief Accountant must have the skills, knowledge, abilities, experience required to perform the powers and complete his duties efficiently. General Manager (Director) must have a university degree or equivalent and have at least three years working experience in management positions in the financial sector, small scale.
23. The case was not the Manager in small scale financial institution the following people do not get service at small scale financial institution: 23.1. The object specified in the Ordinance and Article 18 of Decree No. 28/2005/ND-CP;
23.2. The borrower, guarantor or guarantee a loan for the reconstruction of the main small scale financial institutions and direct relatives of these people;
23.3. Investors who own or have owned direct relatives, or together with one or more relatives directly owning more than 10% of the capital stock of a business is the borrower, guarantor or guarantee for a loan of government financial institutions for small scale;
23.4. Does not meet the standards of the State Bank on professional ethics, professional qualifications and skills defined in paragraph 22 of this circular;
23.5. Non-compliance with the provisions of the Charter of the small scale financial institutions.
24. Naturally lost 24.1 status. Chairman, members of the Management Board, head of supervisory board members, or General Director (Manager) of course lost as in the following cases: a) Lost the capacity for civil acts, died;
b) prohibited is the Member of the management board or supervisory board as specified in clause 23 of this circular;
c the competent court) were expelled from the territory of the Socialist Republic of Vietnam;
d) permits the establishment and operation of small scale financial institution is revoked;
DD) lease (Director) Director General expired; or e) other cases stipulated in the Charter of the small scale financial institutions.
24.2. Shortly after identifying the subject naturally take as secretory 24.1 points as specified in a, b, c, e, e, the Board must have written the report with specific documentation sent State Bank and are responsible for the accuracy, the integrity of this report before the law at the same time perform the procedures to elect, appoint, the title being disabled under the provisions of the law.
25. The term of members of the Management Board and Supervisory Board

25.1. The term of a member of the Board of not more than five years. Members of the Control Board not more than five years on the basis of the decision of the meeting of members (the owner) and the provisions of the Charter of the small scale financial institutions. The new members of the management board or the Supervisory Board should be the Conference members (owners) reviews the performance after twelve months since being appointed.
25.2. members of the management board or Supervisory Board may be the Conference members (owners) appointed.
25.3. the term of appointment of members of the Management Board and the Supervisory Board must be arranged to ensure the inheritance and continuity in the composition of the Management Board and the Supervisory Board.
26. Elected and appointed, dismissed 26.1. The Conference members (owners) appointment, dismissal of the members of the Management Board and the Supervisory Board.
26.2. The Board appointment, dismissal, and terminated the lease Of the Director (Director) and some other important management positions due to the Charter provisions.
26.3. The members of the Board elect a person from among the members of the Board as the Chairman of the Board.
26.4. The case of the Chairman of the Board is absent is authorized in writing to a member of the Board to exercise the powers and duties of the Chairman of the Board according to the principles stipulated in the Charter of the small scale financial institutions. Case no person authorized or Chairman of the Board do not work, the remaining members elect a person from among the members of the interim Chairman of the Board by majority rule too.
26.5. Control Board members elect a person from among the members as head of the Control Board.
26.6. in case of absence of the Control Board is authorized in writing to a member of the Board of control made the rights and duties of the Secretary of the Board of control according to the principles stipulated in the Charter of the small scale financial institutions. Case no person authorized or Head control does not work, the remaining members elect a person from among the members appointed temporary Control Board according to the majority principle too.
26.7. The elected, appointed members of the Management Board, the Supervisory Board members, the Director-General (Director) of small scale financial institution must be the standard State Bank Governor y. 26.8. Chairman and members of the Management Board, head of supervisory board members and Conference members (owners), dismissed or General Manager (the Director) was the Board, resignation and termination of the lease in the following cases: a) capacity for civil acts is limited;
b) Has application for resignation;
c) did not participate in the meetings of the management board or supervisory board during six consecutive months without permission of the management board or supervisory board and the management board or supervisory board that person as a member through the resolution of claims about losing the membership of this person;
d) serious breach of law or statute of small-scale financial institutions;
DD) other cases stipulated in the Charter of the small scale financial institutions.
26.9. For those who are elected, appointed to the position of Chairman and members of the Management Board, head of Department and member of the Board, General Director (Director) and some other important management positions of small scale financial institution: a) be given the powers necessary to perform assigned tasks;
b) after removal or resignation or termination of the lease (for the Director General or Director) must still bear the personal responsibility of the decision contrary to the provisions of laws and regulations, or the willful decisions do wrong in the current time.
26.10. In case the Director-General (Executive Director) financial institutions small scale removal, resignation and termination of the lease or naturally lose, small scale financial institutions must immediately dispatched a cadre of other eligible operating capacity and undertake the tasks of the Director-General (Director) and to appoint or hire General Manager (Director), within the a maximum of six months from the date of recall, resignation and termination of the lease Of the Director (Director) before, and established records as prescribed in this circular proposed standard State Bank Governor y. 27. Suspension, suspension from duty 27.1. The case of the Chairman and members of the Management Board, head of Department and member of the Board, General Director (Manager) of small scale financial institution in violation of the provisions of this circular, the rule of law and the Charter of the Organization of small scale financing, the State Bank has the right to suspend , suspension from duty for violators.
27.2. Persons suspension, suspension from duty under the provisions of this Clause 27.1 points must have the responsibility to participate in handling the existence and violations relating to personal responsibility when required of small scale financial institution or authorized State agencies.
27.3. The case Of the Director (Manager) of small scale financial institutions suspended, temporarily suspended the work, small scale financial institutions must immediately dispatched a cadre of other eligible leadership and capacity for undertaking the duties of Director-General (Executive Director) and notify the State Bank at the same time to consider, decide the appointment (rent), recall (the termination of the lease), ceo (Director) in the maximum time limit of six months from the date of the suspension, the suspension Of the Director (Director).
28. Remuneration remuneration of the Chairman and members of the Management Board, head of Department and member of the Supervisory Board by Conference members (owners) approved.
Small scale financial institutions not be granted any personal loans or any other similar terms for the President and members of the Board or the Secretary of the Board and the Control Board members.
29. Publicity of personal benefits 29.1. Once appointed, members of the Management Board, supervisory board members and General Manager (the Director) to enumerate specific with small scale financial institution if: a) owns shares or shares from 5% of the capital stock of the other businesses due to that person directly and/or authorize others to stand the name (including the right to acquire the property it).
b) is a member of the Management Board, supervisory board, General Director (Manager) of a business.
29.2. The declaration prescribed in clause 29.1 points must be made within seven working days from the date of being appointed official; in the event of changes and/or additions must declare with small scale financial institution within seven working days from the date of the change, the corresponding supplements.
29.3. The declaration prescribed in point 29.1 and 29.2 of this Clause shall be sent to the State Bank and kept at the headquarters of the small scale financial institutions. Capital contribution of members, Board members, Committee members, General Manager (the Director) has the right to review the content of the Declaration at any time if it deems necessary.
29.4. In the case of members of the Board, Member Board of investment through the investment fund established and legitimate operations are exempt from performing specified in point 29.1 and 29.2.
30. The rights and obligations of the members of which 30.1. Each Member's capital contribution small-scale financial institutions have the following rights: a) participated and voted on the issue under the authority of the meeting of members;
b) precedence to contribute more capital to small scale financial institution corresponding to the shares are holding when the small scale financial institutions raise capital by increasing shares of the members;
c) transfer of his shares in accordance with the laws and regulations of financial institutions small scale;
d) receive information about the activities, financial situation and business results of small scale financial institution;
DD) viewed the registry members, bookkeeping, annual financial report and the other documents of the small scale financial institution and receive a copy or a copy of excerpts of the documents;
e) appointed the representative to perform any of your membership privileges, including the right to participate directly meeting of Conference members as prescribed in this circular. Representatives are not authorized for other people to make the right of members;
g) received the remaining assets of financial institutions small scale corresponding to the ratio of their shares in the case of small scale financial institutions were dissolved, bankrupt, unless the Charter of small scale financial institution otherwise;
h) other rights prescribed by law and the Charter of small scale financial institutions.
30.2. capital contribution members of small-scale financial institutions have the following obligations: a) enough, the due amount of capital has been committed to and responsible for the debts and obligations of the other assets of the small scale financial institution in the scope of which had contributed and has pledged to donate to small scale financial institution;
b) in compliance with the Charter of the Organization of small-scale finance;
c) executive decisions of the meeting of members;
d) perform other duties as prescribed by the laws and regulations of small scale financial institutions.
30.3. The aforesaid rights and obligations would arise since the members that are listed in the registry of members.
30.4. Members which have a number of votes corresponding to the voting of their shares and must perform the powers specified in this Clause 30.1 points on the basis of the specific rules in terms of small scale financial institutions.
31. The rights and obligations of the Conference members (owners) 31.1. Approve the Board's proposal regarding the amendment of the Charter for small scale financial institution;
31.2. decision on the level of capital contributed or the level of initial capital and approved the Board's proposal of changing the level of initial capital (or capital);
31.3. the decision to reorganize and dissolve small scale financial institution;

31.4. Approves the proposals of the Board of the restructuring and conversion of financial institutions small scale;
31.5. appointment, tenure and dismissal of the members of the Management Board and Supervisory Board of small scale financial institutions consistent with the standards and conditions specified in this circular; Appointed Chairman of the Board and Chairman of the Supervisory Board in case of need in accordance with the Charter of the Organization of small-scale finance;
31.6. Approve the internal rules of the Board of management and Supervisory Board;
31.7. Approval of remuneration, bonus and wage policies for members of the Management Board and Supervisory Board;
31.8. Follow-up and evaluation of the activities of the Management Board and the Supervisory Board, including the activities of the Chairman of the Management Board, head of the Supervisory Board before being appointed as a member of the Management Board, the Supervisory Board;
31.9. Decide the measures applicable to members of the Management Board and Supervisory Board violated his rights and duties;
31.10. Approves the recommendation of the Board on the selection of independent auditing organization;
31.11. Approve the annual report of the Board and the annual financial report;
31.12. Through the Board's proposal regarding the allocation of the profit remaining after made the financial obligations prescribed by law;
31.13. other powers and duties as prescribed by the laws and regulations of small scale financial institutions.
32. the General obligations of the Chairman, the members of the Management Board, head of Department, Committee members, who runs 32.1. Comply with the law, the Charter of the Organization of small scale financial, decisions of the Conference members (owners) small scale financial institutions in the realization of their rights and duties.
32.2. the implementation of the right to be assigned an honest, careful, best for the benefit of small-scale financial institutions and owners of small scale financial institutions.
32.3. The Chairman and members of the Management Board, head of Department and member of the Board of supervisors, operators of small scale financial institutions not to be: a) compete with small scale financial institution;
b) Created favorable conditions for third-party damage for small scale financial institution;
c) taking advantage of the information, business opportunities have been from small scale financial institutions for themselves or their loved ones.
32.4. The Chairman, the members of the Management Board, head of Department, Board member or Executive control of small scale financial institutions must immediately notify promptly, fully and accurately about any conflict of interest or potential conflicts of interest and other related information have great influence smaller scale financial institutions. The Board must decide whether or not to have a conflict of interest without the presence of the individual concerned.
32.5. The Chairman, the members of the Management Board, head of Department, Member of the Board of supervisors, operators of small scale financial institutions not to be involved in the discussion or decision on the matter or transaction that they have conflicts of interest with small scale financial institutions.
33. The rights and obligations of the Board the Board of small scale financial institution responsible to the members, which is about the business performance of small scale financial institution and have the right to, the following obligations: 33.1. Managing small scale financial institution according to the rules of law and the Charter of the Organization of small-scale finance; managing small scale financial institutions for the benefit of small-scale financial institutions and members of the capital contribution;
33.2. The decision on the matter related to the objective, strategy, business plan of small scale financial institutions consistent with the scope of work set forth in the Charter;
33.3. Through the business plan, operational and capital costs annually by the Director-General (Executive Director) suggested;
33.4. the decision to expand the network and scope of activity;
33.5. Through the structure of the transaction, branches, representative offices and business units of small scale financial institution;
33.6. appointment, dismissal, or termination of the rental contract signed the lease, the discipline and the decision on the salary and other benefits for the position Of Director (Director), Vice President (VP) on the basis of the proposals of the Director-General (Executive Director) and the other operating position under the authority of the decision of the Board under the provisions of the Charter;
33.7. Annual report on the performance of the Board, committees of the Board (if any), to each Member of the Board, General Director (Director);
33.8. at least once each year to review, evaluate the system of internal control, test; responsible for the rationality and effectiveness of the inspection system, internal control;
33.9. adopted and promulgated the internal rules relating to the organisation and operation of small-scale financial institutions consistent with the provisions of the laws and regulations of financial institutions small scale;
33.10. Review, approval and publication of annual report and financial statements of financial institutions small scale prescribed by law;
33.11. audit Organization decided independently on the basis of the proposals of the Director-General (Executive Director) and the approval of the Conference members (owners);
33.12. The reports, proposals and recommendations to the meeting of members (the owner) on the issue of jurisdiction decided by Conference members (owners);
33.13. The Governor of the State Bank approval or standard medical problems prescribed by law;
33.14. other powers and duties as prescribed by the laws and regulations of small scale financial institutions.
34. The rights and obligations of the Chairman of the Board of 34.1 prepared or organized the preparation of the programme, the action plan of the Board; the organization performs the duties of the Board under the provisions of this circular, the relevant rules and regulations of financial institutions small scale;
34.2. Prepare or organize the preparation program, the content, the document of the meeting of the Board or to the opinions of members;
34.3. Convening and chairing meetings of the Board of the organization or the opinions of the members;
34.4. On behalf of the Board signed the decisions, resolutions, the process of the Board; monitoring or surveillance organisation implementing the decisions, resolutions, the process of the Board;
34.5. Ensure the members of the Board receive adequate information, objective, accurate and easy to understand for the issues which the Board must consider; ensure there is enough time before and during the meeting of the Board to discuss complex issues or controversial;
34.6. Assigning tasks to the members in writing and supervision of the Member in the performance of work is assigned, the task of the General powers of the Board;
34.7. Monitor General Manager (the Director) in the implementation of the resolutions of the Board;
34.8. Ensure that workers in small scale financial institutions can report on these irregularities related to the financial situation, activity and other issues, including the breach of the principle of career in small scale financial institution with the Chairman of the Board or other members of the Board;
34.9. Ensure the effective exchange of information between the members of the management board with the Conference members (owners);
34.10. Ensure the new members of the Board are to join the official referral program and overall design are consistent with knowledge, skill, experience and the internal rules for the Board members so that they become familiar with the Organization, management and operation of small-scale financial institutions;
34.11. Reviews the effectiveness of the work of each Member of the Board at least once a year;
34.12. Confirm with Conference members (owners) about the results satisfactory assessment for each Member before that members were re-appoint;
34.13. Authorization for one of the members of the Board carry out their duties in the absence of time consistent with the internal authorization mechanism of small-scale financial institutions;
34.14. other powers and duties prescribed by the law and by the rules of small scale financial institutions.
35. The rights and obligations of the members of the Board of 35.1. Along with other members of the Board of Trustees of small scale financial institution according to the rules of law and the Charter of the Organization of small-scale finance;
35.2. Perform the duties and powers of members of the Management Board in accordance with the internal regulations of the Board and assigned by the Chairman of the Board in an honest, fair, impartial and for the benefit of small-scale financial institutions;
35.3. Elected Members Conference proposal, resignation and recall the Chairman of the Board;
35.4. Request the Chairman to convene a meeting of the Board of irregularities in accordance with the laws and regulations of financial institutions small scale;
35.5. Asks the leader of the small scale financial institutions providing information, documents on the Organization, operation, financial situation of small-scale financial institutions;
35.6 attend Board meetings, comment and vote on all matters specified in this circular within the powers of the Board, except in cases of conflicts of interest will not be participating in the vote;
35.7. There is accountability before the Conference members (owners), the Control Committee and the Board on the implementation of tasks when requested;
35.8. Implementing the decisions of the Conference members (owners) and resolutions of the Board;
35.9. Bear personal responsibility before the Conference members (the owner) and the Board about its activities;
35.10. other powers and duties as prescribed by the laws and regulations of small scale financial institutions.
36. The rights and obligations of the Supervisory Board 36.1. Monitoring the General Manager (the Director) in conducting small-scale financial institutions;

36.2. the operating direction, direct, supervise the operation of the Internal Audit Division (if applicable);
36.3. check reasonableness, legitimate, honest and level of caution in management, business operations; in accounting, statistical and financial reports;
36.4. testing, reviewing, assessing reasonableness, effectiveness and compliance with legal provisions about the Organization and operation of the system of internal control, test;
36.5. Evaluation of business results report, the annual financial report and the financial organization of periodic small scale, the management report of the Board; the reports were assessed up to the Conference members (owners);
36.6. Approval process for internal audit; Approval, adjust the internal audit plan annually;
36.7. Examine accounting books and other documents of the small scale financial institution, the Manager job, operating activities of small-scale financial institutions whenever it deems necessary or at the request of the Board;
36.8. Implement internal audit each period, each sector to the full, accurate assessment of business activities and the financial situation of the small-scale financial institutions; Responsible for ensuring the quality of the internal audit activities and the accuracy of internal audit reports;
36.9. When performing their duties, their powers, the Control Board is not cause interruption of the activities of financial institutions small scale;
36.10. Proposals and recommendations to the Board measures to amend, Supplement, improve organizational management, business operations of small scale financial institution;
36.11. When members of the Board, General Director (Director) offense or acts beyond his duties, powers under the provisions of the laws and regulations of small-scale financial institutions, must immediately report in writing to the Conference members, the Board the same time, ask the person to have violations of the cessation of the violation and have remedial solutions;
36.12. Annual periodic review, the internal regulation of the Board of control, internal audit policy;
36.13. Reviewing the important policy of accounting and reporting;
36.14 to review all the transactions of small scale financial institutions if necessary;
36.15. Reviewing the financial reports of small-scale financial institutions;
36.16. Reviewing the financial reports in the independent audit organization;
36.17. Reviewing, independent reviews for the entire inspection system, internal control Department of the air operator; review system test organization, internal control;
36.18. Monitoring the process to hire independent auditors; monitor the process of implementation of the work of the independent auditors; reviews the effectiveness of the work of the independent auditors;
36.19. Ensure the efficiency of the processes of small scale financial institutions in the monitoring of compliance with the law and rules of ethics; consider about organizations, policies, procedures and systems for monitoring compliance with laws and ethics rules;
36.20. Reports, proposals and recommendations to the meeting of members (the owner) on the issue of jurisdiction decided by Conference members (owners) aims to improve the effectiveness of the Organization and operation of small-scale financial institutions;
36.21. Access to records, documents of the small scale financial institutions kept at the head office, branches and other locations; been to the place where the managers and employees of financial institutions small scale work to perform their duties;
36.22. Requested the Board, Member of the Management Board, ceo (Director) and the Manager/operator offering full, accurate and timely information, the documentation for the management, administration and operations of small scale financial institution;
36.23. Preparation of internal audit reports annually, includes the following principal contents: a) an explanation of how the internal audit has been done in the current financial year and the change of internal audit policy in comparison with the previous financial year (if available);
b) summary of the accounting and reporting policies of financial institutions small scale for the current financial year and the change compared to the previous financial year;
c) detail the unusual trading in the current financial year;
d) details about the special investigation;
DD) a description of the rental process, monitoring and evaluation of the independent auditors;
e) details about the violations of the law and ethical rules; the measures were taken to ensure compliance;
g) level and the participation of members at the meetings of the Board of control.
h) The existence, recommendations and proposals aimed at improving the efficiency of the Organization and operation of small scale financial institutions.
36.24. other rights and obligations under the provisions of the laws and regulations of small scale financial institutions.
37. The rights and obligations of the Chief control 37.1. Preparing the program for the meeting of the Supervisory Board on the basis of consideration of the issues and concerns of all members of the Board of control related to the contents specified in Clause 36 of this circular;
37.2. Convene and preside the meetings of the Supervisory Board;
37.3. On behalf of the Board of supervisors convened and chaired an extraordinary meeting of the Board when the Board there are violations of the law or the Charter of small scale financial institution;
37.4. On behalf of the Board signed the documents under the authority of the Board;
37.5. Preparation of work plans and assign tasks within the scope of the Statute for members of the internal control Committee;
37.6. Ensure that the Control Board members receive full information, objective, accurate and understandable in relation to problems which the Board must consider;
37.7. Ensure that there is enough time before and during the meeting of the Board of supervisors to discuss complex issues or controversial;
37.8. Monitor Control Board members in performing the work is assigned and the duties and powers;
37.9. Authorize another Member of the Supervisory Board performed its duties in the absence of the time;
37.10. other powers and duties prescribed by the law and by the rules of small scale financial institutions.
38. The rights and obligations of members Supervisory Board 38.1. Along with the other members of the Board Act in accordance with the provisions of the laws and regulations of financial institutions small scale;
38.2. Perform the duties and powers of a member of the Supervisory Board in accordance with the internal regulations of a honest and vigilant for the benefit of small-scale financial institutions;
38.3. the Elected head of the Board of control, suggested the Conference members dismissed, Chief of mission control;
38.4. The Chief requirements Control Board Control Board meetings convened extraordinary;
38.5. the control operations, check the bookkeeping, assets, reports, a settlement of the financial year and make recommendations to remedy these violations if there are;
38.6. Be required of officials and employees of financial institutions provide small scale figures and explain the operations to perform tasks assigned;
38.7. Control Board reports about events extraordinary financial and personal responsibility about the reviews and his conclusions before the Board and members of the capital contribution;
38.8. report in writing to the Secretary of the Board of control for at least a month on the situation, the control results in the range is assigned;
38.9. Attend the meetings of the Board of control, taking comments and voting on issues specified in clause 36 of this circular; who is entitled to vote were not allowed to vote when there is a conflict of interest;
38.10. Attend the meetings of the Board, taking the comments, give recommendations, but not to be voted on unless a member of the Board;
38.11. Are required to record their comments in the minutes of the session of the Board if other comments with the resolutions of the Board and reported directly to the Conference members;
38.12. Recommended the Board meeting in extraordinary session in the case of members of the Board or the Board violates the law or the Charter of small scale financial institution;
38.13. Responsible before the law, before the Board and members, which is about determining the accuracy, the integrity of data and records relating to the activities of small-scale finance;
38.14. The duties and powers are specified in terms of small scale financial institutions.
39. The rights and obligations of the Director-General (Executive Director) 39.1 and decide on all the issues related to the work and the daily business operations of small scale financial institution in accordance with the law, the Charter of the Organization of small scale financial resolutions of the Board and the decision of the meeting of members;
39.2. Implementation of decisions and resolutions of the Board;
39.3. the implementation of the business plans and investment projects of small scale financial institution after receiving the approval of the Board;
39.4. Establish, maintain and develop the system of internal control, test and operate effectively;
39.5. setting the process, operation procedures to operate the business operating system, system information report;
39.6. the labour recruitment;
39.7. appointment, dismissal and recall the title of small financial institutions, excluding the titles under the authority the decision of the Board or Board member (the owner); Decide the salary and allowances (if any) for those in authority appointed, recruited;
39.8. Behalf of small-scale financial institutions signing the contracts, except under the authority of the Board;
39.9. Subject to the direction and control of the Board in the implementation of the management duties;

39.10. report of the Management Board, supervisory board, members of Congress, State Bank and the competent State authorities about the operation, efficiency and business results of small scale financial institution according to the rules of law and the Charter of the Organization of small-scale finance;
39.11 reporting, internal control testing of test results, test system assessment, internal control;
39.12. Implementation of rights and obligations was an honest communication and introspection, rolling, for the benefit of small-scale financial institutions and of the Member;
39.13. Case of small scale financial institutions can't pay all the debts, obligations and other payment obligations when due is charged or payment: a) notice to all the creditors of the financial situation of the small-scale financial institutions;
b) No salary increases or bonuses paid to employees of financial institutions small scale;
c) proposed remedies for the financial difficulties of small scale financial institution;
d) personally responsible for damages to which the creditor incurs due to an error does not perform the obligations specified above;
39.14. Recommendations and proposals to the Board to approve or process of the Conference members through: a) to modify the Charter of small scale financial institution;
b) business planning, capital sources and estimation of the annual capital and use of any important change regarding the estimation, that plan;
c) implementation strategy goal of small-scale financial institutions and remedies of adjustments already made or proposed;
d) structure of the head office, branches, representative offices and business units of small scale financial institution;
DD) restructuring or transformation of the small scale financial institution;
e) appointment, resignation or recall Vice General Director, Director (Deputy Director) branches, representative offices and business units under the provisions of the Charter;
g) adopt and implement the law relating to the operation of small scale financial institution;
h) The internal regulations to: internal control, risk management, organization and activities of the branch, interest; commissions, fees and penalties apply to the customer, the appointment, transfer or dismissal of workers and the other necessary internal regulations;
I) choose independent audit organizations.
39.15. The mission, other rights prescribed by law, the Charter of small scale financial institution and the resolution of the Board.
40. The Conference members 40.1. The Conference members include all the members. Members, which is the organization appointed a representative participated in the meeting of members.
40.2. The Conference annual meeting of members or unusual; at least one meeting each year. Location of the meeting to the Conference members must stay on the territory of Vietnam.
41. The authority to convene meetings of Member conferences annual meetings of 41.1. The Conference members are organized according to the recommendations of the Board and no later than two months from the date the Board has approved the financial statements have been audited by independent audit organization performs.
41.2. The Conference members can convene an extraordinary meeting in the following cases: a) the Board deems necessary for the benefit of small-scale financial institutions;
b) at the request of legitimate legal and capital contribution of members;
c) at the request of the Control Board;
d) at the request of the State Bank;
DD) other circumstances as stipulated by law and the Charter of small scale financial institutions.
41.3. in case the Charter small scale financial institutions not regulated, then the Board must convene a meeting of the Conference of members within a period of thirty days from the date of the request specified in this Paragraph 41.2 points. If the Board did not convene the meeting as members of Congress, the President and the members of the Board must be responsible before the law and the right to compensation for damage arising for small-scale financial institutions.
41.4. in case the Board did not convene a meeting as stipulated in this Clause 41.3 points, within a period of thirty days, the Control Board replaced the Board convened a meeting of the Conference members as prescribed in this circular. If the Control Board does not convene meetings of Member conferences as stipulated, the head of the control and the Control Board members be responsible before the law and the right to compensation for damage arising for small-scale financial institutions.
41.5. where the Control Board did not convene a meeting as stipulated in this Clause 41.4 points, the organizations or individuals requires organizing Conference members as defined in this Paragraph 41.2 points has the right to replace the Board, the Supervisory Board convened a meeting of the Conference members as prescribed in this circular and may recommend that the State Bank to supervise the convening and the conduct of the meeting the meeting of members if it deems it necessary.
41.6. Reasonable costs for convening and conducting the meetings of the Conference members are included in the operating costs of small scale financial institutions.
42. The programme and the content of the meeting to the Conference members 42.1. The summons must set up programs and meeting content, prepare documentation, determine the time and location of the meeting, send reporting to each Member according to the provisions of this circular.
42.2. Members have the right to make recommendations regarding the program of the meeting. Petitions must be in writing and must be sent to the headquarters of the small scale financial institution is slow for a day's work before the Conference members. Recommendations must specify the name of the Member, the issue was put on the meeting program recommendations and reasons for recommendation.
42.3. The convening of the meeting of the Conference members only have the right to reject the recommendations specified in this Clause 42.2 points, if: a) recommendations are sent to the incorrect deadlines or inadequate content;
b) issue recommendations that are not under the control of decision of the meeting of members;
c) other circumstances as stipulated by the Charter for small scale financial institutions.
42.4. Invite the Conference members Who convene meetings of Member Conference must send notice of meeting, the form specified as authoritative representatives attended the meeting, agenda, voting, the discussion document as a basis for deciding to members at least seven working days before the opening of the meeting If the Charter small scale financial institutions not regulated other period sooner. A message sent by guaranteed method to the contact address of the Member, which must specify the time and place of the meeting.
42.5. The right to attend the meeting of the Conference a member) can direct members to attend meetings or written authorization for a representative on behalf of members that attend the meeting.
b) members must be notified in writing of the authorized attending meetings for small scale financial institution in the manner and time prescribed by the Board. Authorized representative has the full powers of the members, unless a written authorization otherwise. An authorized representative is allowed to represent many different members in a meeting of the Conference and members have the right to vote separately for each Member that corresponds to the proportion of their capital. The appointment (or cancel the specified) a personal representative is authorized only to take effect after the announced in writing to the financial institution for small scale in the manner and by the time the Board decided.
42.6. Conditions and compliance Conference member a) meetings of the Conference members was conducted when the number of members representing at least 75% of the Charter capital; particular by the Charter rate of small scale financial institution regulation.
b) where there are not enough number of attendees required within 30 minutes from the time of the scheduled start of the meeting recorded in reporting, meeting the Conference members will not be conducted, unless the Charter of small scale financial institution otherwise. Convening the second meeting must be made within fifteen working days from the date of intended first meeting. Conference members meeting last Monday was conducted when the number of members representing at least 50% of the Charter capital or other higher rate as stipulated in the Charter of the small scale financial institutions.
c) where the two don't qualify conduct as defined in point b of this Paragraph, 42.6 then convened a third meeting within ten working days from the date of the meeting held last Monday. In this case, the meeting of the Conference members was conducted independent of the number of members and capital are represented by the number of members.
d) Only new Member Conference has the right to change the programme of the meeting have been included under reporting prescribed in this circular.
43. The procedure adopted the decision at a meeting of the Conference members 43.1. The Conference members passed the decision on jurisdiction in the form of voting at the meeting or in writing opinions.
43.2. The decision of the Conference members about the following matters shall be adopted by the Conference at the meeting voting members: a) modify, supplement the Charter of small scale financial institution;
b) through the development of small scale financial institution;
c) appointment, resignation and recall of members of the Management Board, the Supervisory Board;
d) investment decisions or the sale of valuable property from 50% of own capital held small scale financial back-up, if the Charter does not prescribe a smaller rate;
DD) through annual financial report;
e) reorganization, dissolution of small scale financial institutions.
43.3. The decision of the Conference members are considered to have passed when the following conditions: a) Are representative of the vote at least 75% of the total amount of capital contributed by the members for the approval decision stated at 43.2 points properties a, b, d, e in this Clause; specific rate due to Charter a small scale financial institution regulation.

b) The appointed voting members of the Board of management and Supervisory Board are made by majority vote method, or the method of proportional representation which respectively, or by the method of electing the overwhelming votes, according to which each Member has voting totals correspond to the total amount of capital owned multiplied by the number of members to be appointed by the Board or Committee and members have the right to pack off his total votes for a candidate or a number;
c) other decisions adopted when the number of votes representing at least 65% of the total capital of the members approved; particular by the Charter rate of small scale financial institution regulation.
d) the decision of the meeting of members is adopted in the form of written opinions when the number of members representing at least 75% of the total capital approved; particular by the Charter rate of small scale financial institution regulation.
43.4. Any Member which is a party or has a direct relative is a party involved in a transaction or a transaction limit is reviewed at the meeting of the Conference members will not have voting rights issues related to that transaction.
44. The authority and through the decision of the Conference members in the form of written opinions 44.1. The Board was meeting on behalf of the members consulted members had written to through the decision of the meeting of members at any time if it deems necessary in the interest of small-scale financial institutions;
44.2. The Management Board shall prepare the vote, the draft decision of the meeting of members and the explanatory document on the draft decision. Slip opinions attached to the draft decision and the documents must be sent by secure method to the contact address of each Member.
44.3. The slip opinions must have the following principal contents: a) the purpose of obtaining the opinion;
b) Them, the name and contact address of the Member or authorized representative of the Member;
c) should issue opinions to pass the decision;
d) voting options include approve, not approve and had no idea;
DD) the deadline to submit comments on the small scale financial institution;
e) full name, signature of the Chairman of the Board and the legal representative of the small scale financial institutions.
44.4. Votes taken comments were answered must be signed by the Member or authorized representative or representatives under the law of a member. Slip opinions must be sustained in a sealed envelope and no one is entitled to open before the ballot. The slip opinions posted on small scale financial institution after the deadline specified in the slip opinions or have been opened are not valid.
44.5. The Board tally and record-setting tally under the witness of Control Board. Report on the ballot must have the following principal contents: a) the purpose and problems need to poll through the decision;
b) members with total votes participated in the voting, in which clearly the number of valid votes and invalid votes;
c) total votes approve, not approve and have no comments with respect to each issue;
d) The decision was adopted;
DD) name, signature of the Chairman of the management board or the person the President the authorization and monitoring of the ballot.
44.6. Report on the results of the votes must be sent to the members within a period of fifteen days from the date of the check results;
44.7. Votes taken comments have been answered, compiling a tally, the full text of the resolution has been adopted and the relevant documents must be kept at the Head Office of small scale financial institutions.
45. The Conference membership meeting minutes 45.1. Conference members meeting must be recorded in the minutes book of the small scale financial institutions. Meeting minutes must be set up by Vietnamese and must include the following major contents: a) the time and place of the meeting;
b) list name, the rate of which is represented by each of the members which are present at the meeting (restrictive or through authorized);
c) full name list of the members of the Management Board and the Supervisory Board present at the meeting, stating the ownership of capital of members of the Management Board, the Supervisory Board;
d) list your full name, title of the executive officers of small scale financial institutions present at the meeting;
DD) program and the content of the meeting;
e) presiding and Secretary;
g) summary of the meeting and the opinions on each issue, the content of the meeting;
h) total votes voted for each issue, which clearly total votes approved, not approved and no comments; the corresponding percentage on the total number of voting members; the process and results of votes;
I) The decision was adopted;
k) name, signature of the presiding and the Secretary of the meeting.
45.2. The Conference membership meeting minutes are done and through before closing the meeting.
45.3. Preside meetings Secretary and are jointly responsible for the truthfulness and accuracy of the content thereon.
46. Request the annulment of the decision of the meeting of the Conference of members within a period of thirty days from the end of the meeting the meeting of members or from the date of the report on the results of the votes prescribed in Paragraph 44 of this circular 44.6 points, the members of the Conference members , Member of the Management Board, the Supervisory Board members, the Director-General (Executive Director) have the right to request the courts or arbitration review and annulment of the decision of the meeting of the Conference members in the following cases: a) the order and the procedures for convening the meeting of the Conference members not to be made according to the provisions of this circular and/or rules of financial institutions scale young;
b) sequence, the decision-making procedures and the content of the decisions adopted at the meeting violated the provisions of the law and/or the Charter of small scale financial institutions.
47. The meeting of the Board of 47.1. Regular meeting of the Board or can the extraordinary meeting. Meetings of the Board are on the territory of Vietnam;
47.2. A meeting of the Board by the Chairman to convene and to organize a meeting at least once each quarter;
47.3. The Chairman of the Board must convene a meeting of the Board as requested by: a) the members of the Conference members;
b) members of the Management Board;
c) Head control or at least two-thirds of the members of the Board of control;
d) Director-General (Executive Director) or at least five other managers;
State Bank); or e) other circumstances as stipulated in the Charter of the small scale financial institutions.
The request to convene a meeting of the objects specified in point 47.3 properties a, b, c, d, DD, e, this Account must be made in writing, which stated the purpose, issues to be discussed and decided in the jurisdiction of the Board.
47.4. Chairman of the Board is responsible for convening the meeting of the Board within fifteen days of receiving the request specified in this Clause 47.3 points. The case of the President did not convene a meeting of the Board as required, the President shall be responsible for the damages happen to small scale financial institution; in this case, the requester has the right to convene the meeting of the Board following the procedure stipulated in this Clause 47.5 points.
47.5. Chairman of the Board must submit the reporting and use of documents in the same meeting of voting members to members at the latest five working days before the meeting, if the Charter small scale financial institutions not otherwise specified. Reporting to determine the specific time and location of the meeting, the program, the issues discussed and decisions. Reporting is sent by mail, fax, electronic mail or other means, but be sure to get the address of each Member of the Management Board were registered in small scale financial institutions.
47.6. The meeting of the Board to be conducted only when there are at least three quarters of the total number of members of the Board attended the meeting. Members not directly attend the voting session through vote in writing. Voting must be in sealed envelope and must be transmitted to the Chairman of the Board at the latest one hour before the opening hour. Voting is only open in front of all those people who attended the meeting.
47.7. in case there are not enough number of members required to conduct Board meetings, the Chairman of the Management Board must convene the meeting again within ten working days. If during the meeting Monday, still do not have adequate number of members required under the regulations, the Chairman of the Management Board must convene an extraordinary meeting of the Conference members within thirty (30) days from the date of the second meeting expected to the members can review the bylaws and membership of Board members.
47.8. The Board must invite the Control Board members, executive officers, auditors and others attend meetings when necessary aims to provide information relevant to the issues discussed by the Board; the panelists have the right discussions but not vote if not the members of the Board.
48. The resolution of the Board of 48.1. The Board will adopt the resolution in the form of public voting at the meeting.
48.2. The decision of the Board is adopted when the majority of members approved. The Charter of the Organization of small scale financial regulation the issue should be adopted with the approval of the vote rate higher. The case of the votes to approve and veto abreast, the final decision will belong to the comments of the Chairman of the Board or who is Chairman of the Board of Trustees authorized to preside at that meeting (in the case of the Chairman of the Board is absent).
48.3. The Board used the seal of small-scale financial institutions to perform their duties.
49. The minutes of the meeting of the Board of 49.1. The meeting of the Board must be recorded in the minutes book. The minutes are set up by Vietnamese and possibly in a foreign language and have the following principal contents:

a) the purpose, content and programme of the meeting;
b) time, place of the meeting;
c) They each members name, or who is authorized to attend the meeting; they, the members name does not attend the meeting, the reason;
d) issues are discussed and voted on at the meeting;
DD) summary statements of opinion of each of the members according to the sequence of the happenings of the meeting;
e) voting results, specify the members approved, not approved and no comments;
g) The decision was adopted;
h), last name, signed by all members or authorized representative attended the meeting;
49.2. Presiding and the Secretary is responsible for the truthfulness and accuracy of the content of Board meeting minutes.
49.3. Board meeting minutes and documents used in the meeting must be kept at the Head Office of small scale financial institutions.
49.4. The minutes set by Vietnamese and foreign languages have equal legal value.
50. The meeting of the Supervisory Board 50.1. Control Board is meeting at least once each quarter and may hold extraordinary meetings at the request of: a) Conference members;
b) members of the Supervisory Board;
c) Chairman of the Board or by at least two thirds of the total membership of the Board;
d) State Bank;
d) other circumstances as stipulated in the Charter of the small scale financial institutions.
50.2. Head control is responsible for convening the meeting of the Supervisory Board. Procedures for convening and organizing the meetings of the Supervisory Board are defined in the internal regulations of the Board of control of small scale financial institutions.
50.3. Control Board meetings are conducted only when at least two thirds of the total members of Board of supervisors attended the meeting.
50.4. The absence of adequate number of members required to conduct the meeting Control Board Control Board must convene the meeting again within ten (10) working days. If during the meeting Monday, still do not have adequate number of members required under the regulations, the Chief Control Board must report to the Chairman of the Board and Chairman of the Management Board must convene an extraordinary meeting of the Conference members within thirty days to the members can review the bylaws and membership of Board members control.
50.5. Control Board will invite the members of the Management Board, executive officers, auditors and others attend meetings when required to provide information related to the issue discussed by the Supervisory Board.
51. The resolution of the Board of control of 51.1. Control Board will adopt the resolution in the form of public voting at the meeting.
51.2. The decision of the Supervisory Board is adopted when the majority of members for sale too. The Charter of the Organization of small scale financial regulation the issue should be adopted with the approval of the vote rate higher. The case of the votes to approve and veto a peer, then the problem is the decision will ultimately belong to the opinion of the head of supervisory board or who is head of the authoritative server control set that meeting (in case the Chief absentee control).
52. The minutes of the meeting the Board of control meeting of the Supervisory Board must be recorded in the minutes book. Presiding the meeting Secretariat and is responsible for the truthfulness and accuracy of the content of the minutes of meeting of Board of supervisors.
IV. ACTIVITIES Of FINANCIAL INSTITUTIONS SMALL-53. Common rules on the operation of financial institutions to small scale 53.1. Small scale financial institutions are only allowed to perform the operations in Vietnam. For the loans and receive funding from the Organization, foreign individuals in foreign currency must be made in accordance with the provisions of the law on Foreign Exchange Management.
53.2. small scale financial institutions must maintain total outstanding credits in small scale constitute a minimum 65% of the total outstanding credit of small scale financial institutions.
53.3. content and scope of the activities of small-scale financial institutions specified in the license issued by the State Bank, Decree No. 28/2005/ND-CP, Decree No. 165/2007/ND-CP and the text direction of the State Bank.
54. Financing and credit for small scale financial institutions are financing and credit level according to the provisions of article 22 (amended according to the provisions in clause 3, article 1, of decree 165/2007/ND-CP) and article 23 of Decree No. 28/2005/ND-CP of the Government and the text direction of the State Bank for this operation.
55. Other activities 55.1. Small scale financial institution is open an account and deposit money at the State Bank, commercial banks and other credit institutions.
55.2. small scale financial institutions are providing a number of services for payment as follows: a) transfer money to finance small scale customer;
b) collects, for small scale financial clients.
The above mentioned payment services are made pursuant to the financial institutions for small scale and in accordance with the provisions of the State Bank.
55.3. small scale financial institutions are entitled to receive Commission for loans; mandated and entrusted to other activities related to the field of finance to small scale prescribed by the laws and guidelines of the State Bank.
55.4. small scale financial institution is entitled to the insurance agents under the provisions of the law on insurance and other sectors related to financial operations of small scale.
55.5. small scale financial institutions made support consulting services for clients in the management and use of capital efficiency.
V. CHANGES To APPROVED 56. Small scale financial institutions must be approved by the State Bank in writing before a change in the content of the provisions in clause 1, article 28 of Decree 28/2005/ND-CP. 57. Records suggest the State Bank approved change 57.1. Records suggest changing the name of the small scale financial institution: a) the Sheets of the Chairman of the Board (or authorized person) suggested changing the name of the small scale financial institutions. The sheet must indicate the reasons and the need to please change;
b) text of the Conference members (owners) agreed on the change of the name of the small scale financial institution;
c) resolutions of the Board of Trustees approved the name change of small scale financial institution; and d) other documents (if necessary) in order to clarify the contents referred to in points a, b, c weather 57.1 this clause.
57.2. Records suggest change capital: a) the Sheets of the Chairman of the Board (or authorized person) suggested changing the capital level of small scale financial institution, which stated the reason for the change of capital levels and implementation plan;
b) text of the Conference members agreed on the change of the level of capital;
c) resolutions of the Board approved about changing the capital level of small-scale financial institutions;
d) Fund allocation agreement among members had either;
DD) Organization and situation report the activity to the time before please change the capital of financial institutions small scale; Financial reports of the latest year were audited;
e) other documents (if necessary) in order to clarify the contents stated in point 57.2 properties a, b, c, d, e.
57.3. Records suggest change location based, branch: a) the Sheets of the Chairman of the Board (or authorized person) suggested relocating headquarters, branch of small scale financial institution, which stated the reason for relocation, warehouse safety issues at the new location;
b) text of the Conference members agreed on the change of location is headquartered;
c) resolutions of the Management Board approved the change of location based, branch of small scale financial institution;
d) text of the provincial people's Committee, the city has an opinion about small scale financial institutions are headquartered, branch (for transfer case location based, branch to the province, the other Deputy). The absence of this document, small scale financial institutions must clearly state the reason in the process to review State Bank;
DD) text confirming ownership or rights to use legally where the head office, branch of small scale financial institutions during a minimum of 3 (three) years; and e) other documents (if necessary) in order to clarify the contents stated in the score 57.3 properties a, b, c, d, e.
57.4. Profile change active content: a) the Sheets of the Chairman of the Board (or authorized person) suggested changing the active content of small scale financial institution, which stated the need, the reason for the change and the solving measures exist (if any) in the case of approved changes;
b) text of the Conference members agreed on the content change of activity;
c) resolutions of the Board approved changing the active content of small scale financial institution;
d) report the situation to the Organization and operation to end months of small-scale financial institutions; and dd) other documents (if necessary) in order to clarify the contents stated in point 57.4 properties a, b, c, d of this Paragraph.
57.5. Records suggest the transfer shares of the parties, which in small scale financial institution: a) the Sheets of the Chairman of the Board (or authorized person) small scale financial institutions suggest State Bank approved the transfer of shares between the sides and lateral assignment the assignee , which stated the information on the legal status of the transfer, the reasons for the transfer and the transfer plan in case be approved;
b) text of the Conference members agreed on the transfer of shares;
c) resolutions of the Board of the small scale financial institutions agreed on the transfer of shares;
d) text of assignment parties send State Bank announced the transfer of part or all of their shares in small scale financial institution;
DD) text of party assignee Bank suggested State acquired a part or all of the shares in small scale financial institutions transfer party;

e) report the situation to the Organization and operation to end months of small-scale financial institutions;
g) of the financial reports of the latest year were audited; and h) other documents (if necessary) in order to clarify the contents stated in the score 57.5 properties a, b, c, d, e, f, g paragraph.
Side case the assignee is not inside the small scale financial institution, the record must have additional documents, such as papers specified in point 10.5 of this circular.
57.6. Records suggest amendments, supplements the content of small scale financial institution: a) the Sheets of the Chairman of the Board (or authorized person) suggested amending, supplementing the Statute of small-scale financial institutions, which must explain clearly the reasons for the revised proposal;
b) text of the Conference members agreed on the amendment and supplement of the small scale financial institution;
c) resolutions of the Management Board approved the amendment of the Charter of the Organization of small-scale finance;
d) draft Charter amendments and supplements; and dd) other documents (if necessary) in order to clarify the contents stated in the score 57.6 properties a, b, c, d of this Paragraph.
57.7. the suggested standard profile y members of the Management Board, supervisory board and General Director (Director): a) the Sheets of the Chairman of the Board (or authorized person) suggested to Governor appointed, dismissed the titles. The sheets must confirm the recommended standard of medicine appointed qualified conditions, standards, according to the current rules of law;
b) text of the Conference members (owners) the appointment, resignation and recall titles (for the members of the Management Board and supervisory board) c) resolutions of the Board (for the title of ceo/Director);
d) affidavit criminal history and a copy of the certified diploma, certificate of need for the recommended standard of health titles;
DD) original application for resignation of who is holding one of the above titles (for the case dismissed);
e) other documents (if necessary) in order to clarify the contents stated in the score 57.7 properties a, b, c, d, e.
58. The sequence and procedures recommended by the State Bank to approve the change of financial institutions small-58.1. Within a period of twenty working days from receipt of the records suggested additional amendments in accordance with Paragraph 57 of this circular, the State Bank has confirmed in writing on the adequacy and legal records or inform financial institutions of small scale about the papers additional required documentation.
58.2. within thirty working days from the date of sending the confirmation text full of records according to the rules, the Governor of the State Bank to consider approval of the changes of small scale financial institutions. The case of disapproval, the State Bank have written reply stating the reason for disapproval.
58.3. After the Bank approved in writing, the small scale financial institutions must: a) conducted the registration procedures with the competent State agencies on business registration (and informed the people's Committee, the city where the head office, branch for the case referred to in Paragraph 57 of this circular 57.3 points) in time for at least ten the working day;
b) Posted the central or local newspaper where is headquartered by the Vietnamese in three consecutive times on the changes has been approved;
c) revising, supplementing the relevant content in the Charter and the Governor of the State Bank of the medical standards. 59. These changes must be notified within a period of thirty days from the day the changes below, small scale financial institutions must have written notice of State Bank: 59.1. Membership changes, which owns over 10% of the capital stock, the Management Board, ceo (Director) of the members which is held.
59.2. the change of name and address of the Member.
59.3. Splitting, split, merger, consolidation, dissolution or bankruptcy of the Member which is held.
59.4. Any abnormal changes have a major influence on the Organization, operation, or the financial situation of the Member.
VI. The INSPECTION, Audit, REWARDED And HANDLE BREACH 60. Inspector 60.1. The small scale financial institution subjected to the inspection, the Inspector's monitoring State Bank as defined in section 1 of chapter IX of the credit institutions Act and the other provisions of the law.
60.2. The organizations that operate small scale financial filing proposals to license or join had established small scale financial institution as prescribed in this circular will be State Bank inspectors to conduct inspections, to check the contents: a) meet the conditions to be granted a license under the provisions of this circular;
b) amount of capital which will be used to contribute to the capital of the small scale financial institution;
c) activities and the performance of the branch is expected to recommend the State Bank allowed are continues to operate after being licensed (for organizations that already have affiliate networks).
60.3. where State Bank has information about an organization of small-scale finance activities violating the provisions in paragraph 64 of this circular, the Bank has the right: a) inspected, tested at locations where suspicious objects have small-scale financial operations are not allowed and/or where this object store bookkeeping , profile, reports;
b) examine, copy or keep the books, records, reports of objects being examined to determine precisely the violation of the legal provisions of this object in the financial sector, the Bank;
The Act of refusing or obstructing the Bank Inspector access to the location or the books, the record stated at this Point will be considered to be the first evidence of the activity violates the law of this object.
61. An audit of the small scale financial institution must conduct the audit as defined in section 2 Chapter IX the law of credit institutions and the other provisions of the law.
62. Commended and rewarded The violation processing, handling of violations of the law on small scale financial operations are implemented in accordance with Chapter X of the credit institutions Act and other related legislation.
VII. IMPLEMENTATION 63. This circular effect after 15 days from the date The report.
64. within twelve months from the date of decree 165/2007/ND-CP of the Government are effective, the Organization has a small scale financial operations are filing and records suggest a license under the provisions of this circular if: 64.1. Are mobilizing voluntary deposits of institutions, individuals not small-scale financial clients; and/or 64.2. Holding savings (including compulsory savings and voluntary deposits) of the small scale financial customer from 50% own capital. Own capital consists of the component as specified in point 5.2 Paragraph 5 this circular and is the capital of the program or project finance small scale.
65. After the time limit specified in paragraph 64 of this circular, organizations, programs, projects, small scale financial operations without writing grant proposals or permit does not meet the conditions to be granted a license to simultaneously perform the following work: 65.1. Terminate immediately mobilizing voluntary deposits of customers not small-scale financial clients, at the same time have to reimburse this amount of clients they have submitted when due;
65.2. reduce the scale of savings mobilization of small scale financial clients as specified in Paragraph 64 of this circular 64.2 points down to below 50% of capital letters; at the same time mobilizing voluntary deposits number from this customer to be deposited into a bank legally operating in Vietnam. This amount is only allowed to draw aims to reimburse customer deposits.
Special cases, organizations, programs, and projects to the State Bank report to the Prime Minister to consider the extension of decision taken.
66. Office, Director of the Bank and non-bank credit organization, the heads of the relevant units in the State Bank, Director of the State Bank of India branch of the province, central cities, Chairman of the Board, General Director (Manager) of small scale financial institutions and organizations a related individual, is responsible for implementation of this circular.
In the process, if there are obstacles, the proposal reflects timeliness about State Bank for guidance, solve.