Decision No. 18/2024/QĐ-TTg stipulates the functions, tasks, powers, and organizational structure of the Banking Inspection and Supervision Agency under the State Bank of Vietnam.

Pursuant to …;

Regulations on the functions, tasks, powers, and organizational structure of the Banking Inspection and Supervision Agency under the State Bank of Vietnam

Pursuant to the Law on Organization of the Government dated June 19, 2015; the Law Amending and Supplementing Certain Provisions of the Law on Organization of the Government and the Law on Organization of Local Administration dated November 22, 2019;

Pursuant to the Law on the State Bank of Vietnam dated June 16, 2010;

Pursuant to the Law on Credit Institutions dated January 18, 2024;

Pursuant to the Inspection Law on November 14, 2022;

Pursuant to Decree No. 123/2016/ND-CP dated September 1, 2016 of the Government stipulating the functions, tasks, powers, and organizational structure of ministries and ministerial-level agencies; Decree No. 101/2020/ND-CP dated August 28, 2020 of the Government amending and supplementing certain articles of Decree No. 123/2016/ND-CP;

Pursuant to Decree No. 102/2022/NĐ-CP dated December 12, 2022 of the Government stipulating the functions, tasks, powers, and organizational structure of the State Bank of Vietnam;

Pursuant to Decree No. 26/2014/ND-CP dated April 7, 2014 of the Government on the organization and operation of Banking Inspection and Supervision; Decree No. 43/2019/ND-CP dated May 17, 2019 of the Government amending and supplementing certain articles of Decree No. 26/2014/ND-CP;

Pursuant to Decree No. 146/2024/ND-CP dated November 6, 2024 of the Government amending and supplementing, abolishing certain articles of Decree No. 102/2022/ND-CP and Decree No. 26/2014/ND-CP which have been amended and supplemented by Decree No. 43/2019/ND-CP;

At the proposal of the Governor of the State Bank of Vietnam;

The Prime Minister stipulates the functions, tasks, powers, and organizational structure of the Banking Inspection and Supervision Agency under the State Bank of Vietnam.

Article 1. Position and Functions

1. The Banking Inspection and Supervision Agency is an equivalent unit to a General Department under the State Bank of Vietnam (hereinafter referred to as the State Bank), performing the function of advising and assisting the Governor of the State Bank in state management over credit institutions, foreign bank branches, state management of banking inspection and supervision work, receiving citizens, handling complaints and denunciations, preventing corruption and malpractice, deposit insurance; carrying out administrative inspection, specialized inspection, and banking supervision in areas within the scope of state management of the State Bank, receiving citizens, handling complaints and denunciations, and preventing corruption and malpractice in accordance with the provisions of the law and the assignment of the Governor of the State Bank.

2. The Banking Inspection and Supervision Agency has legal personality, a seal bearing the National Emblem, a separate account in accordance with the provisions of the law, and its headquarters in Hanoi City.

b) Draft five-year and annual socio-economic development plans for the province; major economic and social balances for the province; draft five-year and annual plans, programs, projects, measures to organize and implement tasks related to socio-economic development, finance-budget, planning-investment, and other tasks within the scope of state management of the Department of Finance as prescribed by law;

1. Submit to the Governor of the State Bank for submission to the Government and the Prime Minister for consideration and decision:

a) Draft decrees of the Government and draft decisions of the Prime Minister on the organization and operation of credit institutions, foreign bank branches, representative offices in Vietnam of foreign credit institutions, other foreign organizations engaged in banking activities, banking inspection and supervision, and deposit insurance;

b) Strategies, programs, projects, and important plans on the development of credit institutions, foreign bank branches, representative offices in Vietnam of foreign credit institutions, other foreign organizations engaged in banking activities, banking inspection and supervision, and deposit insurance.

2. Submit to the Governor of the State Bank for decision, approval, or issuance:

a) Circulars stipulating the organization and operation, safety of banking operations of credit institutions, foreign bank branches; stipulations on establishment, restructuring, dissolution, bankruptcy, liquidation of credit institutions, foreign bank branches, representative offices in Vietnam of foreign credit institutions, other foreign organizations engaged in banking activities; stipulations on banking inspection and supervision, deposit insurance;

b) Issuance, amendment, supplementation, revocation of licenses for establishment and operation of credit institutions, licenses for establishment of foreign bank branches, licenses for establishment of representative offices in Vietnam of foreign credit institutions, other foreign organizations engaged in banking activities, and other types of banking operation licenses according to the division of labor of the Governor of the State Bank;

c) Issuance, reissuance, change of content, and revocation of licenses for provision of credit information services (certificates of eligibility to provide credit information services) for organizations;

d) Issuance, revocation of Certificates of Registration for microfinance programs and projects in accordance with the law and the division of labor of the Governor of the State Bank;

đ) Approval of the purchase, sale, division, merger, conversion of legal form, dissolution of credit institutions, foreign bank branches; approval of the list of candidates to be elected or appointed as members of the Board of Members, members of the Board of Management, members of the Supervisory Board, and General Managers (Directors) of credit institutions, except personnel of commercial banks wholly owned by the State, personnel appointed or recommended by the State owner holding more than 50% of the charter capital of joint-stock commercial banks; approval of the person to be appointed as the General Manager (Director) of foreign bank branches; approval of the establishment, dissolution, termination of operations of domestic branches, representative offices, and public service units of credit institutions; approval of the establishment, conversion of legal form of overseas presence of credit institutions, including branches, representative offices, and other forms of overseas presence; approval of the establishment, acquisition of subsidiaries and associated companies of credit institutions; approval of capital contribution and share purchases by credit institutions; approval of other issues concerning governance, organization, finance, and operations as required by law to be approved or permitted by the State Bank according to the division of labor of the Governor of the State Bank;

e) Handling issues related to the organization, governance, and management of credit institutions, foreign bank branches to contribute to ensuring that credit institutions, foreign bank branches operate soundly, safely, and in compliance with the law according to the division of labor of the Governor of the State Bank;

g) Implementing certain contents regarding the rights and responsibilities of the agency representing the State's ownership interest in credit institutions, financial organizations, enterprises managed by the State Bank according to the provisions of the law and the division of labor of the Governor of the State Bank;

h) Develop and organize, monitor the implementation of projects, plans to consolidate, rectify, remedy, restructure, and specially supervise credit organizations and foreign bank branches according to the division of labor by the Governor of the State Bank of Vietnam.

3. Perform the duties and powers stipulated in points b, c, d, đ, e, g, h of Clause 2 of this Article according to the分级授权和委托的规定由国家银行行长作出.

4. Popularize, promote and organize the implementation of normative legal documents, policies, strategies, programs, projects, plans, and schemes prescribed in Clause 1 and Clause 2 of this Article after they have been issued or approved by competent state agencies.

5. Draft the annual inspection plan of the Banking Inspection and Supervision Department for approval by the Governor of the State Bank of Vietnam; organize the implementation of the inspection plan of the Banking Inspection and Supervision Department; guide, urge, supervise, and inspect the implementation of the inspection plan by banking inspection and supervision departments under the State Bank of Vietnam branch (hereinafter referred to as the Banking Inspection and Supervision Department of the State Bank of Vietnam branch).

6. Conduct administrative inspections, banking inspections, anti-money laundering inspections, deposit insurance inspections, and other inspections within the scope of management of the State Bank of Vietnam on inspected banking entities as prescribed by laws on the organization and operation of the Banking Inspection and Supervision Department and according to the division of labor by the Governor of the State Bank of Vietnam; conduct other inspections assigned by the Governor of the State Bank of Vietnam.

7. Re-inspect cases that have already been concluded by the Banking Inspection and Supervision Department, the Banking Inspection and Supervision Department of the State Bank of Vietnam branch but discover signs of violations of the law upon reviewing complaints, reports, recommendations, and reflections.

8. Urge, supervise, and inspect the implementation of inspection conclusions, recommendations, and decisions on handling inspections made by the Banking Inspection and Supervision Department and the Governor of the State Bank of Vietnam.

9. Check the accuracy and legality of inspection conclusions of the Banking Inspection and Supervision Department, the Banking Inspection and Supervision Department of the State Bank of Vietnam branch, and post-inspection handling decisions of the Governor of the State Bank of Vietnam branch, the Chairman of the People's Committee of the province when necessary for matters within the scope of management of the State Bank of Vietnam.

10. Conduct banking supervision over supervised banking entities as prescribed by laws on the organization and operation of the Banking Inspection and Supervision Department and according to the division of labor by the Governor of the State Bank of Vietnam.

11. Conduct inspections on inspected banking entities and supervised banking entities as prescribed by laws and according to the division of labor by the Governor of the State Bank of Vietnam.

12. Apply measures within authority or recommend competent authorities to implement measures to ensure safety and handle violations against inspected banking entities and supervised banking entities as prescribed by laws.

13. Assist the Governor of the State Bank of Vietnam in managing the national administration regarding receiving citizens, handling complaints and reports; perform tasks and powers in receiving citizens, handling complaints and reports according to laws and the division of labor by the Governor of the State Bank of Vietnam.

14. Assist the Governor of the State Bank of Vietnam in managing the national administration regarding preventing and combating corruption and negative practices; perform tasks and powers in preventing and combating corruption and negative practices according to laws and the division of labor by the Governor of the State Bank of Vietnam.

15. Advise and assist the Governor of the State Bank of Vietnam in managing the national administration regarding deposit insurance.

16. Direct, inspect, and organize the implementation of inspection and supervision work; provide guidance on banking inspection and supervision business to the Banking Inspection and Supervision Department of the State Bank of Vietnam branch. Guide and inspect units within the banking sector to comply with laws on banking inspection and supervision, receiving citizens, handling complaints and reports, preventing and combating corruption and negative practices within the scope of management of the State Bank of Vietnam.

17. Require inspected banking entities, supervised banking entities, and related agencies, organizations, and individuals to report and provide information and materials for banking inspection and supervision work.

18. Summarize and draw lessons from inspection and supervision work within the scope of management of the State Bank of Vietnam.

19. Aggregate and report results of inspection and supervision, receiving citizens, handling complaints and reports, preventing and combating corruption and negative practices within the scope of management of the State Bank of Vietnam.

20. Carry out certain duties and powers over some non-governmental organizations within the scope of management of the State Bank of Vietnam as prescribed by laws and分级授权和委托的规定由国家银行行长作出。

20. Carry out certain duties and powers over some non-governmental organizations within the scope of management of the State Bank of Vietnam as prescribed by laws and分级授权和委托的规定由国家银行行长作出.

21. Organize research and application of scientific and technological progress into management, inspection, and supervision activities of the banking sector; modernize technical infrastructure of the banking inspection and supervision system; organize training for banking inspectors and other civil servants in the Banking Inspection and Supervision Department; enhance professional skills for staff involved in banking inspection and supervision, receiving citizens, handling complaints and reports, preventing and combating corruption and negative practices.

22. International cooperation in the field of banking management, inspection, and supervision.

23. Implement administrative reform in the areas of activity of the Banking Inspection and Supervision Department according to the administrative reform plan of the State Bank of Vietnam.

25. Perform other duties and powers as prescribed by law and assigned by the Governor of the State Bank of Vietnam.

Article 3. Organizational Structure

1. The Administrative Inspection Department (referred to as Department I).

2. The Banking Safety Policy Department (referred to as Department II).

3. Office.

4. The Banking Inspection and Supervision Bureau I (referred to as Bureau I).

5. The Banking Inspection and Supervision Bureau II (referred to as Bureau II).

6. The Banking Inspection and Supervision Bureau III (referred to as Bureau III).

7. The Banking System Safety Supervision Bureau (referred to as Bureau IV).

The head of the Banking Inspection and Supervision Bureau may issue inspection decisions for the inspected objects assigned to them (except for inspections decided by the Chief Inspector and Supervisor of Banking in accordance with the law on the organization and operation of banking inspection and supervision), and perform the duties and powers of the decision maker for inspections and administrative penalty enforcement as prescribed by law.

The Governor of the State Bank of Vietnam shall prescribe the functions, tasks, powers, and organizational structure of units under the Banking Inspection and Supervision Agency.

Article 4. Leadership of the Banking Inspection and Supervision Agency

1. The Banking Inspection and Supervision Agency has a Chief Inspector and Supervisor of Banking and not more than four Deputy Chief Inspectors and Supervisors of Banking.

2. The Chief Inspector and Supervisor of Banking is appointed, relieved, dismissed, transferred, rotated, or seconded by the Governor of the State Bank of Vietnam after consulting with the General Inspector of the Government.

The Governor of the State Bank of Vietnam appoints, relieves, or dismisses Deputy Chief Inspectors and Supervisors of Banking upon the proposal of the Chief Inspector and Supervisor of Banking and in accordance with the law.

3. The Chief Inspector and Supervisor of Banking is responsible to the Governor of the State Bank of Vietnam and to the law for all activities of the Banking Inspection and Supervision Agency; Deputy Chief Inspectors and Supervisors of Banking are responsible to the Chief Inspector and Supervisor of Banking and to the law for the areas of work they are assigned to manage.

4. The Chief Inspector and Supervisor of Banking performs duties and powers as prescribed by the law on the organization and operation of banking inspection and supervision; duties and powers of the Chief Inspector of a ministry or agency equivalent to a ministry according to the law on inspection and other relevant laws.

Article 5. Effectiveness and Responsibility for Implementation

1. This Decision takes effect from January 5, 2025, and replaces Decision No. 20/2019/QĐ-TTg dated June 12, 2019 of the Prime Minister prescribing the functions, tasks, powers, and organizational structure of the Banking Inspection and Supervision Agency under the State Bank of Vietnam.

2. The Governor of the State Bank of Vietnam, Ministers, Heads of agencies equivalent to ministries, Heads of government agencies, Chairpersons of provincial and centrally-administered city People's Committees, and the Chief Inspector and Supervisor of Banking are responsible for implementing this Decision.