THE STATE BANK OF VIETNAM | THE SOCIALIST REPUBLIC OF VIETNAM Independence - Freedom - Happiness |
No. 19/2019/TT-NHNN | Hanoi, November 5, 2019 |
CIRCULAR
Prescribing the operation network of microfinance institutions[1]
Pursuant to the June 16, 2010 Law on the State Bank of Vietnam;
Pursuant to the June 16, 2010 Law on Credit Institutions;
Pursuant to the November 20, 2017 Law Amending and Supplementing a Number of Articles of the Law on Credit Institutions;
Pursuant to the November 26, 2014 Law on Enterprises;
Pursuant to the Government’s Decree No. 16/2017/ND-CP of February 17, 2017, defining the functions, tasks, powers and organizational structure of the State Bank of Vietnam;
At the proposal of the Chief of the Banking Supervision Agency;
The Governor of the State Bank of Vietnam promulgates the Circular prescribing the operation network of microfinance institutions.
Chapter I
GENERAL PROVISIONS
Article 1. Scope of regulation
This Circular prescribes:
1. The establishment, termination of operation and dissolution of domestic branches, transaction bureaus, representative offices or non-business units of microfinance institutions; and the opening and termination of operation of transaction points of microfinance institutions.
2. The renaming and relocation of offices of branches, transaction bureaus, representative offices or non-business units of microfinance institutions; and the change of branches managing transaction bureaus of microfinance institutions.
3. The transformation of attached units of microfinance programs or projects into branches, transaction bureaus, non-business units or representative offices of microfinance institutions.
Article 2. Subjects of application
1. Microfinance institutions.
2. Organizations and individuals involved in the establishment, termination of operation or dissolution of branches, transaction bureaus, representative offices or non-business units; the opening or termination of operation of transaction points; the renaming and relocation of offices of branches, transaction bureaus, representative offices or non-business units; the change of branches managing transaction bureaus; and the transformation of attached units of microfinance programs or projects into branches, transaction bureaus, non-business units or representative offices of microfinance institutions.
Article 3. Interpretation of terms
In this Circular, the terms below are construed as follows:
1. Operation network of microfinance institutions includes domestic branches, transaction bureaus, representative offices and non-business units.
2. Branch means a dependent unit of a microfinance institution which has its own seal and is tasked to perform one or more than one function of such microfinance institution according to the latter’s internal regulations and law.
3. Transaction bureau means a type of branch or dependent unit of a microfinance institution which is managed by a branch of such microfinance institution. A transaction bureau has its own seal and office located in the operation area of the managing branch, and is tasked to perform one or more than one function of such microfinance institution according to the latter’s internal regulations and law.
4. Representative office means a dependent unit of a microfinance institution which has its own seal and acts as an authorized representative of such microfinance institution. A representative office may not conduct business operations.
5. Non-business unit means a dependent unit of a microfinance institution which has its own seal and performs one or more than one of the activities to support business operations of such microfinance institution in accordance with Article 6 of this Circular.
[1] Công Báo Nos 899-900 (16/11/2019)
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