The State Bank of Vietnam (SBV) seeks opinions from individuals and organizations on the Draft Law on Credit Institutions (amended). The Law provides for the establishment, organization, operation, special control, reorganization, dissolution, bankruptcy, handling of bad debts, and handling of collaterals of bad debts.
These provisions apply to credit institutions, foreign bank branches, representative offices of foreign credit institutions and other foreign organizations engaged in banking activities and these institutions shall comply with the provisions of this Law and other relevant regulations. The Law on Credit Institutions, along with guiding documents and detailed regulations have contributed to the healthy operation of credit institutions, perfecting the legal basis to protect the legitimate rights and interests of the depositors.
The Law on Credit Institutions No. 47/2010/QH12 and the Law amending and supplementing a number of articles of the Law on Credit Institutions No. 17/2017/QH14 expire from the effective date of this Law—that is, from May 2024.
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