The DECISION, issued regulations on the opening and termination of the operation of branches, representative offices of credit institutions non-bank GOVERNOR STATE BANK pursuant to the law the State Bank of Vietnam in 1997 and the law on amendments and supplements to some articles of the law on the State Bank of Vietnam in 2003;
Pursuant to the law on credit institutions in 1997 and the law on amendments and supplements to some articles of the law on credit institutions in 2004;
Pursuant to the law of 2005 business;
Pursuant to Decree No. 52/2003/ND-CP dated 19/5/2003 of government functions, tasks, powers and structure of the State Bank of Vietnam;
Pursuant to Decree No. 16/2001/ND-CP dated 10/5/2001 of the Government on the organisation and operation of financial leasing companies and Decree No. 65/2005/ND-CP dated 19/5/2005 of the Government regulations on the amendments and supplements to some articles of Decree No. 16/2001/ND-CP dated 10/5/2001 of the Government on the organisation and operation of financial leasing company;
Pursuant to Decree No. 79/2002/ND-CP on 04/10/2002 by the Government on the Organization and activities of financial firms;
At the suggestion of the Director of the banking and non-banking credit organization, decision: article 1. Attached to this decision regulates the opening and termination of the operation of branches, representative offices of non-bank credit organization.
Article 2. This decision has the effect after 15 days from the date The quote and replace decision No 24/2003/QĐ-NHNN dated Jan. 07/01/2003 of the Governor of the State Bank issued regulations on the opening and termination of the operation of branches, representative offices of non-bank credit organization.
Article 3. Office Manager, Director of the Bank and non-bank credit organization, the heads of the relevant units in the State Bank of Vietnam, the Director of the branch of the State Bank, the central cities, Chairman of the Board and Board members , Head of the Control Board and Control Board members and General Manager (Director) of the non-bank credit organization is responsible for the implementation of this decision.
 

                                                       KT. GOVERNOR LIEUTENANT GOVERNOR (signed) Tran Minh Tuan regulations regarding the opening and termination of the operation of branches, representative offices of non-bank credit institutions (issued by decision No. 01/2008/QĐ-NHNN dated Jan. 9, 2008 Governor's State Bank) Chapter 1 GENERAL PROVISIONS article 1. The object and scope of this regulation to adjust the opening and termination of the operation of branches, representative offices of non-bank credit organizations operating in Vietnam.
Article 2. Explanation of terms In this regulation, the terms below are interpreted as follows: 1. non-bank credit organizations is financial companies, financial leasing companies and non-bank credit organization according to the provisions of the State Bank of Vietnam.
2. Branches of credit institutions non-bank unit, seal, made some of the functions and tasks of the non-bank credit organization according to the authorization of non-bank credit organization.
3. Representatives of the non-bank credit organizations is dependent unit, seal, perform the duties authorized representative of non-bank credit organization. Offices do not perform operations.
4. Transaction is directly under the Division headquarters or branches of non-bank credit organization, reported in accounting has its own stamp.
5. on the management system of information network is the connection between information systems headquarters with information systems in the affiliate non-bank credit organizations in order to update the date information in the report about the operation of the branch in headquarters of non-bank credit organization.
Article 3. The management requirements and operation 1. Non-bank credit organization must enact internal regulations to manage the operations of the branch, including: a) the provisions on the management system of information network between head office and with branches of non-bank credit organization;
b) regulations on the safety of the transaction, money transfer and warehouse, manage and store vouchers, ask about the fire, fire for branch in accordance with the current legislation;
c) regulations on internal control, inspection of the branch;
d) regulations on risk management in operations at the branch;
DD) specified mode is asset management debt-asset subsidiary;
e) rules of organization, functions, duties and scope of operations of the branch, about the conditions, standards for the Director, Deputy Director, head of the rooms and apparatus inspection, internal control at the branch;
g) other rules as required monitoring management of each non-bank credit organization.
2. non-bank credit organization must enact internal regulations management of activity of the representative office, including;
a) regulates the functions, duties, active content and mode of financing of the representative office; the authority, standards for head offices and the executive staff offices;
b) other provisions as required for the Operations Manager Agent.
Chapter 2 SPECIFIC PROVISIONS 1. To OPEN a BRANCH, REPRESENTATIVE OFFICE in the COUNTRY article 4. Conditions of non-bank credit institution to open a branch, Representative Office 1. Conditional branch: 1.1. After 1 (one) year of operations, non-bank credit organization branch, if guarantees are the following conditions: a) has enough capital levels have to be real open branches as specified;
b) ensure the security rate in operation at the time of the proposal to open a branch and the months of the year suggest to open a branch;
c) issued the full internal regulations management of activity of the branch specified in clause 1 of article 3 of this regulation;
d) operations years ago in planned to open a branch with interest before tax compared with the average equity not lower than 20%;
DD) administrator, operated apparatus; test systems, internal control and internal audit to ensure the regulation of the State Bank of Vietnam and does not violate the provisions of the current law on activity;
e) of the number of branches: the number of branches are open according to the following formula: in which: * n is the number of branches are open (including of opened branch), raw only;
* C is the number of existing capital (unit);
* Co is the level of capital for the kind of non-bank credit institutions must have a minimum as specified at the time of the proposal to open a branch in billion.
g) areas intended to open the branch must match the active needs of non-bank credit organization and must prove to be cost-effective after opening branch;
the bad debt proportion h) (NPL) to open the branch:-for financial leasing companies under 3% of the total outstanding.
-For financial companies under 2% of the total outstanding 1.2. Non-bank credit organizations operating in the field of consumer credit does not mobilize personal deposits will not limited on time in opening a branch if it meets the conditions in points a, b, c, e, f, g, and h clause 1.1 this.
2. conditions to open a representative office: a) has a minimum operating time is 1 (one) year;
b) wishing to open a representative office to promote activity, search and customer management;
c) financial situation, healthy, in good standing regulations ensure safety in operation;
d) management apparatus, and test systems, internal controls did not violate the regulations of the State Bank of Vietnam and the current law;
DD) issued the full internal management regulations of activity of representative office prescribed in clause 2 of article 3 of this regulation.
Article 5. Open records branch, Representative Office To open branches or representative offices, non-bank credit organization send the State Bank of Vietnam 2 (two), are: 1. The text of the Chairman of the Board or a person authorized to recommend to open a branch or representative office the summary, which States: the needs of operation, the name, location, content, the scope of activities of the branch or representative office, the situation report of activities and the number of branch offices, we have, at the same time assert that qualify under the rules to open branches or representative offices in accordance with article 4 of this regulation;
2. The text of the Chairman of the Board (for authorized cases);
3. Resolutions and Board meeting minutes of the opening of a branch or representative office;
4. The project to open a branch or a representative office, which stated operational needs; projected organization; the content, scope and operational plan in 3 (three) years;
5. The text relating to the provisions in article 3 and text prove to ensure the conditions specified in article 4 of this regulation;
6. The text of the provincial people's Committee, the city approved for non-bank credit organization based branch or representative office;
7. The text of the Director of State Bank branch in the central cities, where non-bank credit organization intended to put the headquarters branch or representative office of the need, demand, operational activities of the branch or representative office of the non-bank credit organization;
8. Documents confirming the ownership or the right to use legal Head Office branch or representative office.
Article 6. Opening works 1. Within a period of 6 (six) months from the date of receiving the written approval to open a branch or representative office of the State Bank of Vietnam, non-bank credit organization must conduct active opened branches or representative offices.

2. To be inaugurated and put into operation, the branch or representative office must complete the business registration procedures, the Central and local newspaper 3 (three) consecutive numbers, implement the provisions of the State Bank of Vietnam on the opening of the activity and send the State Bank of Vietnam (Service banks and non-bank credit organization) : a) the number of the Central and local newspaper posted the announcement launching activities;
b) protect copies of business registration certificate;
c) text report on the completion of the procedures and the opening of the operation;
3. Expiry of the regulation, if non-bank credit institutions not take branches or representative offices in operation, the State Bank of Vietnam will withdraw approval to open branches or representative offices. Case of non-bank credit organization that needs to open a branch, Representative Office, to perform the procedure, as defined in this regulation.
Article 7. Offices opening the offices of non-bank credit organization must comply with the following rules: 1. The room is only open transactions in the city, where the headquarters or branches of non-bank credit organization;
2. specific provisions on active content, function, mission and a clear hierarchy for;
3. The sustained Conservation Fund and fund existing norms under the authority the decision of the Board, General Director (Managing Director) non-bank credit institutions, on the basis of proper regulations to ensure safety in the transactions, the vault, money transfer and fire requirements , fire;
4. The level of loan or lease for a client not to exceed 300 million;
5. the Director-General (Executive Director) non-bank credit organization or branch manager of non-bank credit organization responsible for the operation of the trading room directly under the head office or branch and has the duty to register with the State Bank branch in the central cities, where the opening transaction and report the State Bank of Vietnam (Service the Banks and non-bank credit organization) according to the attached appendix before officially active;
6. in case of termination of the activities of the Office, must have written notice sent State Bank branch in the central cities, where there are offices and announced publicly at the termination of trading room operations, posted the news on local newspapers before the 15 (fifteen) days from the scheduled date of termination of activity of the trading room , including the transfer of processing of the obligations and benefits of the transaction, of the relevant object.
Section 2. TERMINATION of the OPERATION of branches, REPRESENTATIVE OFFICES in the COUNTRY article 8. The case of termination of activity of representative office, branch 1. The State Bank of Vietnam was withdrawing approval for non-bank credit organizations to open branches or representative offices do not meet the conditions for the opening of the operation within the time limit specified or serious violation of operation rules of law.
2. Please voluntarily closed the branch or representative office by no longer works.
3. non-bank credit institution has a branch or representative office being bankrupt, dissolved under the provisions of the law.
Article 9. The termination of activity of representative office, branch 1. The State Bank of Vietnam to revoke approval to open a branch, representative office prescribed in clause 1 article 8 of this regulation, the State Bank of Vietnam will publicize the reasons and regulation sequence, procedure of termination of activity of representative office, branch and the responsibilities of the unit concerned.
2. in case of voluntary please closed branch, representative office prescribed in clause 2 article 8 of this regulation, non-bank credit organization posted 02 (two) sets the record for the State Bank of Vietnam, including: a) the text of the Chairman of the Board or a person authorized to recommend termination of the branch or representative office , which States clearly the name, address, status and voluntary reasons please closed branches, representative offices, the responsibilities and procedures for the termination of the branch or representative office;
b) text of the Chairman of the Board (for authorized cases);
c) meeting minutes and resolutions of the Board of the termination of activities of the branch or representative office;
d) comments of the Director of the branch of the State Bank, the central cities of the non-bank credit organizations recommend terminating the operation of the branch or representative office;
DD) process when the termination of the activities of the branch or representative office, which stated the financial status of the branch or representative office and process the problem exists on the Organization, the activities of the branch or representative office.
3. in case of non-bank credit organization was dissolved, bankrupt the provisions in paragraph 3 article 8 of this regulation, the State Bank of Vietnam will regulating the termination of the operations of a branch, representative office in deciding to revoke the license and operation.
Article 10. Sequence, the voluntary procedure to terminate the operation of branches, representative offices 1. During the 30 (thirty) working days from the date of receiving the written approval of the State Bank of Vietnam, the Chairman of the Board of the non-bank credit organization must decide to terminate the operation of the branch or representative office.
2. Decides to terminate the operation must have the following principal contents: a) the name, address of branches, representative offices termination of activity;
b) reasons of termination of activity of representative office, branch;
c) on termination of activity;
d) responsibilities of non-bank credit organization for the creditors.
3. Decides to terminate the operation of branches, representative offices of non-bank credit organization must be sent to the State Bank of Vietnam and the Bank branch of the province, central cities where non-bank credit organization is headquartered and where the branch or representative office; at the same time is listed at the headquarters of the branch or representative office of termination of activity; Central or local newspaper in 3 (three) consecutive number 15 (fifteen) days before the date of termination of the operation.
4. non-bank credit institution has a branch or a representative office to terminate the operation are responsible for settling the obligations to creditors and solve other related exist under the provisions of the law.
Category 3. OPEN and ACTIVE BRANCH, overseas REPRESENTATIVE OFFICES of NON-BANK CREDIT INSTITUTIONS article 11. The conditions to open a branch, overseas representative office To open branches or representative offices in foreign countries, non-bank credit organization in addition to the conditions specified in article 4 of this regulation, must: 1. Have minimum operating time is 3 (three) years;
2. Have the operation abroad possible, demonstrate the need to open a branch, representative office abroad;
3. Open only in the countries, territories signed an agreement with Vietnam on the surveillance inspection activities;
4. Commitment to the procedure related to the opening of branches, representative offices under the rules of the countries or territories, where non-bank credit organization intended to put the headquarters branch or representative office.
Article 12. Petition to open a branch, overseas representative office 1. Non-bank credit institution wishing to establish 02 (two) the proposed profile to open branches or representative offices send the Vietnam State Bank: a) the text of the Chairman of the Board or a person authorized on opening branches, representative offices abroad, which stated the summary : active, demand the name, estimated location based content, expected activity;
b) text of the Chairman of the Board (for authorized cases);
c) resolutions and the minutes of the Board, resolutions and minutes of the meeting of the General Assembly of shareholders (for the non-bank credit organization) about the opening of a branch or representative office abroad;
d) the texts prove to ensure the conditions stipulated in article 11 of this regulation;
DD) text recommended the State Bank of Vietnam has comments with oversight authority for the activities of the branch or representative office abroad if required;
e) documents on the opening of branches, representative offices under the rules of the countries or territories, where non-bank credit organization intends to open a branch or representative office;
2. The paper for approval to open a branch, representative office abroad by the State Bank of Vietnam valued in 24 (twenty four) months. The case of expiry on the foreign side, has not been approved to open branches or representative offices that still has needs, non-bank credit organizations have written the State Bank of Vietnam report and recommendations.
Article 13. The report 1. Within a period of 30 (thirty) days from the date of national or foreign territories allowed to open a branch or a representative office, non-bank credit organization must have written the report and send the State Bank of Vietnam (Service banks and non-bank credit organization , Inspector banks) paper copies accepted to open branches or representative offices in foreign countries;
2. In the process of active, non-bank credit organizations must report the State Bank of Vietnam on the State of the Organization and activities of the branch or representative office abroad periodically for 6 (six) months and 12 (twelve) months.
Article 14. Termination of the activities of the branch, overseas representative offices termination of activity of representative office or branch of the non-bank credit organization in a foreign country must comply with the legal provisions of the country or territory where non-bank credit organization headquarters or branch offices and to report the State Bank of Vietnam.
ITEM 4. The RESPONSIBILITY of the STATE BANK of VIETNAM article 15. The responsibility of the banks and non-bank credit organization

1. Receiving the profile suggest to open a branch, representative office or records suggest approval for voluntarily closing branches, representative offices of non-bank credit organization.
2. within a maximum of 10 (ten) working days from the date of application of the non-bank credit organization proposed opening or termination of the activities of the branch or representative office, the Service of the banks and non-bank credit organization responsible for sending opinions State Bank branch the central cities, where non-bank credit organization proposed opening or termination of the activities of the branch or representative office headquarters and Inspector of the Bank;
3. within maximum 15 (fifteen) working days from the date of receiving enough comments relevant units, Service of the banks and non-bank credit organization General and the Governor of the State Bank signed a written approval or disapproval for the non-bank credit organization : a) open or to terminate the activities of a branch, representative office in the country;
b) to open a branch, representative office abroad.
Article 16. The responsibilities of the Inspector of the Bank 1. Within a maximum of 7 (seven) working days from receipt of the request of the Bank and non-bank credit institutions, the banking Ombudsman have testimonials about the active situation and meet the conditions of non-bank credit institutions defined in point b , c and h clause 1.1 article 4 of this regulation regarding the opening of a branch or the provisions in points c, d and DD item 2 article 4 of this regulation regarding the opening of a representative office.
2. After 30 (thirty) days from the date of the opening of the branch of activities, inspection of State Bank branch in the central cities, make checking for branches, representative offices opened in the country about compliance with the provisions of this regulation, the provisions of the current law and the internal regulations of the branch activity management , Office of the representative of the non-bank credit organization.
Article 17. The responsibility of the State Bank branch in the central cities, 1. Where non-bank credit institutions to open branches and representative offices: a) oversaw the opening of the activities, the Branch Manager, representative offices of non-bank credit organization. Report any unusual fluctuations on the Organization and activities of branches, representative offices of non-bank credit organization to the State Bank of Vietnam timely processing;
b) check inspection operations branch, representative offices of non-bank credit organization;
c) within a period of a maximum of 7 (seven) working days from the date of the proposal of the non-bank credit organization apply to open a branch, representative office in geographical, State Bank branch, central cities have comments in writing on demand banking activities in , approved or not approved the non-bank credit institutions to open branches and representative offices in the area. The case of disapproval must clearly state the reason.
2. Where the non-bank credit organization headquartered: within a maximum of 7 (seven) working days from the date of the proposal of the State Bank of Vietnam on the non-bank credit institutions proposed to open a branch, Representative Office, Bank branch , central cities must have written reviews about the conditions specified in article 4 of this regulation and the comments on the proposal of the non-bank credit organization. The case of disapproval must clearly state the reason.
Chapter 3 PROVISIONS Enacted 18. The term adjusted 1. Within a period of 1 (one) year from the date of this regulation are effective, non-bank credit organization must review the whole system of branches, representative offices, offices of the unit to adjust the number of branches, representative offices, offices; enacted internal regulations to manage the operation of branches, representative offices, offices in order to ensure proper operation under the provisions of this regulation;
2. The non-bank credit organization does have more branches are allowed to open branches as defined in point 1.1 paragraph e article 4 of this regulation, they must plan to rearrange or terminate the operation of branches, offices and will not open more new branches.
Article 19. Handle violation of non-bank credit organization has this rule violation, then depending on the nature, the degree of the violation may be processed under the provisions of the law.