Circular 19/2026/TT-NHNN decentralization of administrative procedures in banking sector regulatory sandbox

CIRCULAR

Defining the decentralization of implementation of administrative procedures defined in the Government’s Decree No. 94/2025/ND-CP providing the regulatory sandbox in the banking sector

Pursuant to the Law No. 46/2010/QH12 on the State Bank of Vietnam;

Pursuant to the Law on Organization of the Government No. 63/2025/QH15;

Pursuant to the Law No. 32/2024/QH15 on Credit Institutions, which was amended and supplemented by the Law No. 96/2025/QH15;

Pursuant to the Law No. 59/2020/QH14 on Enterprises, which was amended and supplemented by the Law No. 76/2025/QH15;

Pursuant to the Government’s Decree No. 26/2025/ND-CP defining the functions, tasks, powers and organizational structure of the State Bank of Vietnam;

Pursuant to the Government’s Decree No. 94/2025/ND-CP dated April 29, 2025, providing the regulatory sandbox in the banking sector;

At the proposal of the Director of the Payment Department;

The Governor of the State Bank of Vietnam hereby promulgates the Circular defining the decentralization of implementation of administrative procedures defined in the Government’s Decree No. 94/2025/ND-CP providing the regulatory sandbox in the banking sector.

Article 1. Scope of regulation

This Circular defines the decentralization to units under the State Bank of Vietnam (hereinafter referred to as the State Bank) in implementation of administrative procedures regarding credit scoring, data sharing via open applications programming interfaces (Open API) defined in the Government’s Decree No. 94/2025/ND-CP providing the regulatory sandbox in the banking sector.

Article 2. Subject of application

1. Units under the State Bank.

2. Organizations and individuals requesting implementation of administrative procedures.

Article 3. Contents of decentralization

1. Decentralizing to regional State Bank branches the implementation of administrative procedures applicable to organizations having head offices located in the concerned localities as follows:

a) Approving or refusing approval of registration for participation in the regulatory sandbox for credit scoring, data sharing via open applications programming interfaces (Open API) defined in Article 10 of Decree No. 94/2025/ND-CP;

b) Approving or refusing approval of requests for adjustment of the regulatory sandbox for credit scoring, data sharing via open applications programming interfaces (Open API) defined in Article 17 of Decree No. 94/2025/ND-CP;

c) Deciding testing termination and revocation of certificates of participation in the regulatory sandbox for credit scoring, data sharing via open applications programming interfaces (Open API) defined at Point b and Point c Clause 1 Article 19 of Decree No. 94/2025/ND-CP;

d) Approving or refusing approval of requests for extension of the testing period for credit scoring, data sharing via open applications programming interfaces (Open API) defined in Article 20 of Decree No. 94/2025/ND-CP;

dd) Approving or refusing approval of requests for grant of certificates of testing completion for credit scoring, data sharing via open applications programming interfaces (Open API) defined in Article 21 of Decree No. 94/2025/ND-CP.

2. Regional State Bank branches shall take responsibility before law and before the Governor of the State Bank for results of implementation of decentralized tasks and powers; periodically report and assess implementation of the decentralized tasks and powers in their reports on results of implementation of tasks of regional State Bank branches in accordance with the State Bank’s working regulations and shall not further decentralize their decentralized tasks and powers.

Article 4. Effect

This Circular takes effect on June 30, 2026.

Article 5. Transitional provision

dossiers of registration for participation in the regulatory sandbox received by the State Bank before the effective date of this Circular shall continue to be handled in accordance with documents and regulations effective at the time of receipt.

Article 6. Organization of implementation

Heads of relevant units of the State Bank, related organizations and individuals shall be responsible for organizing the implementation of this Circular./.