Circular No. 25/2023/TT-NHNN on the work of competition and rewards in the Banking Industry

CIRCULAR

Regulations on Competition and Awards Work in the Banking Industry 

          Pursuant to the Law on Encouragement and Reward dated June 15, 2022;

          Pursuant to Decree No. 98/2023/NĐ-CP dated December 31, 2023 of the Government detailing the implementation of certain provisions of the Law on Competition and Awards;

          Pursuant to Decree No. 102/2022/NĐ-CP dated December 22, 2022 of the Government stipulating the functions, tasks, powers, and organizational structure of the State Bank of Vietnam;

          In accordance with the proposal of the Director of the Organization and Cadres Department;

          The Governor of the State Bank of Vietnam hereby promulgates this Circular on competition and awards work in the banking industry.

PART I

GENERAL PROVISIONS

Article 1. Scope of Regulation

This Circular stipulates competition and awards work in the banking industry including the following contents: objects of competition and awards; responsibility for organizing competition movements; criteria for titles of Advanced Worker, Advanced Worker Collective, Outstanding Worker Collective, Flag of Competition of the State Bank of Vietnam; forms of awards such as Certificate of Merit of the Governor of the State Bank of Vietnam, Letter of Commendation, Commemorative Medal "For the Cause of Vietnam Banking"; authority to decide on awards; procedures for award nominations; time for receiving award nomination files; Review and Award Councils at all levels and Innovation Councils; rights and obligations of collectives and individuals awarded.

Article 2. Applicability

Collectives and individuals under the State Bank of Vietnam (hereinafter referred to as the State Bank); collectives and individuals under credit organizations; foreign bank branches; Vietnam Deposit Insurance Corporation; training institutions; Permanent Offices of Associations and enterprises managed by the State Bank; collectives and individuals outside the industry and households directly contributing to the activities of the banking industry.

Article 3. Collectives in the Banking Industry

1. For the State Bank

a) Large collectives are: units under the State Bank, offices of party and mass organizations at the headquarters of the State Bank;

c) Small collectives are: departments (bureaus) and equivalent units under the collectives specified in points a and b of this clause.

2. For credit organizations, foreign bank branches, and Vietnam Deposit Insurance Corporation

a) Large collectives are: Commercial Banks, Social Policy Banks, Vietnam Cooperative Banks, Vietnam Deposit Insurance Corporation, foreign bank branches, financial companies, leasing finance companies, People's Credit Funds, microfinance organizations (excluding subsidiaries of credit organizations);

b) Basic collectives are: departments (bureaus), centers at headquarters, branches, subsidiaries and equivalent units under the collectives specified in point a of this clause (excluding People's Credit Funds and microfinance organizations);

c) Small collectives are: departments (bureaus), transaction offices directly under People's Credit Funds, microfinance organizations; departments (bureaus), transaction offices and equivalent units under the collectives specified in point b of this clause.

3. For training institutions

a) Large collectives are: Banking Academy, Ho Chi Minh City University of Banking;

b) Basic collectives are: departments, faculties, subjects, centers and training institutions, units under the collectives specified in point a of this clause;

c) Small collectives are: departments (bureaus), faculties, subjects and equivalent units under the collectives specified in point b of this clause.

4. For enterprises managed by the State Bank

a) Large collectives are: National Note Printing Factory, Vietnam National Payment Corporation, Vietnam Asset Management Corporation and other enterprises managed by the State Bank;

b) Basic collectives are: departments (bureaus), workshops and equivalent units under the collectives specified in point a of this clause;

c) Small collectives are: teams and equivalent units under the collectives specified in point b of this clause.

5. For Permanent Offices of Associations managed by the State Bank

a) Large collectives are: Permanent Offices of the Banking Association, People's Credit Fund Association, Leasing Finance Association and other associations managed by the State Bank;

b) Small collectives are: departments (bureaus) and equivalent units under the collectives specified in point a of this clause.

Article 4. Inventions in the Banking Industry

1. Inventions in the Banking Industry (hereinafter referred to as inventions) are new solutions created or improvements made to existing solutions applied during the implementation of tasks, bringing tangible benefits (economic efficiency or social benefit), enhancing productivity, quality, and effectiveness of work that have the potential for replication and are recognized by competent authorities including:

a) Management solutions are methods of organizing and managing work by management subjects over management objects to achieve specific goals in work.

b) Technical solutions are methods and technical means to solve specific tasks.

c) Operational solutions are advisory and proposal-making activities for methods to implement tasks, helping management subjects resolve work effectively.

d) Application solutions using advanced science, technology, and new techniques are methods, approaches, and measures applying known technical solutions to practical banking activities.

2. Scope of Influence of Innovations

a) Inventions achieving effectiveness and having the potential for nationwide replication are new solutions created or improved from existing ones, applied in the Banking Industry, bringing tangible benefits with a national impact scope;

b) Inventions achieving effectiveness and having the potential for replication within the Banking Industry are new solutions created or improved from existing ones, applied and bringing tangible benefits with an impact scope within the Banking Industry;

c) Inventions achieving effectiveness and having the potential for replication at the grassroots level are new solutions created or improved from existing ones, applied and bringing tangible benefits with an impact scope within the unit.

Article 5. Responsibilities for Organizing Competitive Movements

1. The Governor of the State Bank of Vietnam initiates, organizes, and directs competitive movements in the Banking Industry. The Department of Organization and Cadres is responsible for advising the Governor of the State Bank of Vietnam on initiating, organizing, directing, and inspecting the implementation of competitive movements initiated by the Governor of the State Bank of Vietnam.

2. Heads of units (Heads of units under the State Bank of Vietnam; Heads of credit institutions, Deposit Insurance Corporation of Vietnam, enterprises managed by the State Bank of Vietnam; General Directors (Directors) of foreign bank branches; Secretaries-General of associations managed by the State Bank of Vietnam) are responsible for initiating competitions, implementing competitive movements, and summarizing and concluding competitive movements within their units.

3. Leaders of Competition Groups and Clusters are responsible for organizing competition initiation, signing competition agreements between units within Competition Groups and Clusters and submitting signed competition agreements to the State Bank of Vietnam (Department of Organization and Cadres) no later than March 31; Supervising the implementation of competitive movements among units within Competition Groups and Clusters and organizing summaries and conclusions of competitive movements. Competition targets, contents, and organizational measures must be agreed upon by Competition Groups and Clusters for unified implementation.

4. Party committees and mass organizations at all levels in the Banking Industry closely coordinate with unit heads to organize and implement competitive movements.

5. Media and press agencies in the Banking Industry publicize about competition work and rewards; accurately reflect the results of competitive movements and reward work; identify individuals and groups with outstanding achievements in competitive movements to set examples or introduce them to competition and reward councils at various levels for consideration of rewards; popularize exemplary models of advanced practices, good people, and good deeds; combat and criticize violations of laws on competition and rewards in the Banking Industry.

Chapter II

AWARDS AND REWARD FORMS IN THE BANKING INDUSTRY

Article 6. The title "Advanced Laborer"

1. The title "Advanced Laborer" shall be awarded annually to individuals in the banking industry who comply well with the Party's guidelines, State policies, regulations, and rules of the banking industry, localities, and units, and meet the standards prescribed in Clause 1 of Article 24 of the Law on Competition and Rewards.

2. For individuals who bravely rescue people or property, resulting in injuries requiring treatment or convalescence, the time spent on treatment and convalescence shall be counted towards consideration for the award of the title "Advanced Laborer."

3. In cases where individuals transfer jobs, the new unit shall be responsible for evaluating and presenting the title "Advanced Laborer." If the individual has worked at the previous unit for six months or more, the opinion of the previous unit must be obtained. In cases where individuals are assigned or seconded to other agencies, organizations, or units for a certain period, the evaluation and presentation of the title "Advanced Laborer" shall be decided by the agency, organization, or unit that assigns or secondes them, and confirmed by the receiving agency, organization, or unit.

4. Individuals sent for short-term training or enhancement within or outside the country for less than one year, who comply well with the regulations of the training or enhancement institution, shall have their study time counted towards their work time at the unit for the evaluation of the title "Advanced Laborer." In cases where individuals are sent for training or enhancement within or outside the country for one year or more, who comply well with the regulations of the training or enhancement institution and achieve good grades or higher, shall have their time counted towards the evaluation of the title "Advanced Laborer."

Article 7. The title "Advanced Labor Collective"

The title "Advanced Labor Collective" shall be awarded annually to collectives in the banking industry that meet the standards prescribed in Clause 1 of Article 28 of the Law on Competition and Rewards.

Article 8. The title "Outstanding Labor Collective"

1. The title "Outstanding Labor Collective" shall be awarded annually to collectives in the banking industry, selected from those that have achieved the title "Advanced Labor Collective" and meet the standards prescribed in Clause 1 of Article 27 of the Law on Competition and Rewards.

2. A collective that completes tasks exceptionally well is defined as follows:

a) Collectives under the State Bank of Vietnam: successfully complete the annual work plan and other assigned tasks; propose many suggestions for the establishment of rules and policies of the State Bank of Vietnam; comply well with reporting and statistical systems; promptly and thoroughly resolve complaints and reports within their jurisdiction;

b) Collectives under credit organizations, foreign bank branches, and the Vietnam Deposit Insurance Corporation: successfully complete all activity targets and plans for the year; effectively perform internal inspection and supervision work; comply well with the rules and regulations of the State Bank of Vietnam; promptly resolve complaints and reports within their jurisdiction;

c) Collectives under educational institutions: comprehensively and successfully complete all assigned targets and plans; ensure teaching quality; effectively organize and maintain a regular system for scientific research activities; comply well with information and reporting systems; properly manage students; take timely measures to prevent social evils from infiltrating schools and maintain a clean educational environment; promptly resolve complaints and reports within their jurisdiction;

d) Collectives under enterprises managed by the State Bank of Vietnam: comprehensively and successfully complete all assigned targets and plans; strictly adhere to information and reporting systems as required; effectively perform internal inspection and supervision work; promptly resolve complaints and reports within their jurisdiction;

đ) Permanent offices of associations managed by the State Bank of Vietnam: effectively promote the policies of the Party, State laws, and the State Bank of Vietnam; propose many suggestions for establishing rules and policies in banking operations; promptly resolve complaints and reports within their jurisdiction.

Article 9. The title "Flag of Excellence of the State Bank"

1. The title "Flag of Excellence of the State Bank" shall be awarded annually to collectives that conscientiously implement the Party's guidelines, state policies, regulations of the State Bank, units, and localities, lead the competition movement within the Group and Cluster, and meet the standards prescribed in Clause 1 of Article 26 of the Law on Encouragement and Reward.

2. The title "Flag of Excellence of the State Bank" shall be awarded to collectives leading thematic competition movements launched by the Governor of the State Bank with implementation periods of three years or more upon summarizing the competition movement.

Article 10. "Certificate of Merit from the Governor of the State Bank"

1. "Certificate of Merit from the Governor of the State Bank" shall be awarded or posthumously awarded to individuals who serve as exemplary models in implementing the Party's guidelines, state policies and laws, banking industry regulations, localities, units, and meet one of the criteria specified at points a, b, c, and d of Clause 1 of Article 74 of the Law on Encouragement and Reward.

2. "Certificate of Merit from the Governor of the State Bank" shall be awarded to individuals who have worked in the banking industry for twenty-five years or more for males and twenty years or more for females, completed their assigned tasks well for five consecutive years immediately before retirement, were not disciplined during their service period, and have not been previously rewarded with a Certificate of Merit from the Governor of the State Bank or other national commendations.

3. "Certificate of Merit from the Governor of the State Bank" shall be posthumously awarded to individuals who courageously saved people or property while performing assigned tasks related to banking activities.

4. "Certificate of Merit from the Governor of the State Bank" shall be awarded to collectives that serve as exemplary models in implementing the Party's guidelines, state policies and laws, banking industry regulations, localities, units, maintain internal solidarity, and meet one of the criteria specified in Clause 3 of Article 74 of the Law on Encouragement and Reward.

5. "Certificate of Merit from the Governor of the State Bank" shall be awarded to collectives and individuals outside the banking industry who serve as exemplary models in implementing the Party's guidelines, state policies and laws, and have made significant contributions directly and practically to the operations of the banking industry.

6. "Certificate of Merit from the Governor of the State Bank" shall be awarded to families that serve as exemplary models in implementing the Party's guidelines, state policies and laws, and have made significant contributions in terms of labor, material resources, land, and assets to the banking industry.

Article 11. Letter of Commendation

1. A Letter of Commendation shall be awarded to individuals within the banking industry who possess good moral character, serve as exemplary models in implementing the Party's guidelines, state policies and laws, regulations, and unit rules, and meet one of the following criteria:

a) Completing assigned tasks well or better, achieving results in competitions initiated by the Governor of the State Bank or the head of the unit;

b) Achieving outstanding results or sudden achievements with influence in one of the areas under the unit's management.

2. A Letter of Commendation shall be awarded to collectives within the banking industry that serve as exemplary models in implementing the Party's guidelines, state policies and laws, regulations, and unit rules, maintain internal solidarity, care for the material and spiritual lives of members, practice thrift, and combat waste, and meet one of the following criteria:

a) The unit completes assigned tasks well or better, achieves results in competitions initiated by the Governor of the State Bank or the head of the unit;

b) Achieving outstanding results or sudden achievements with influence in one of the areas under the unit's management.

3. A Letter of Commendation shall be awarded to collectives and individuals outside the banking industry who make direct and practical contributions to the operations of the unit.

Chapter III

REMEMBRANCE CHAPTER

Article 12. Commemorative Medal

1. The Commemorative Medal "For the Cause of the Vietnam Banking Industry" (hereinafter referred to as the Commemorative Medal) is a form of award granted by the Governor of the State Bank of Vietnam to recognize the contributions of individuals within and outside the banking industry who have made significant contributions to the development of the Vietnam Banking Industry.

2. The Commemorative Medal shall only be awarded once to an individual.

Article 13. Criteria for Awarding the Commemorative Medal

1. For individuals currently working in the banking industry

a) The Commemorative Medal shall be awarded to individuals who have performed their assigned tasks satisfactorily or better (calculated over the total time period considered for the award), with at least 20 years of service in the banking industry for males and 15 years for females;

b) Individuals automatically eligible for the Commemorative Medal include: bank staff recognized as martyrs; staff involved in the preparatory committee for the establishment of the National Bank of Vietnam; bank staff participating in the B front from 1968 onwards; bank staff awarded state honors such as the "Golden Star Order," the "Ho Chi Minh Order," Independence Orders of various classes, "Hero of Labor," and leaders of the State Bank;

c) Individuals prioritized for consideration for the Commemorative Medal include: staff working in the banking industry from May 6, 1951, to May 7, 1954, and having continuous service of at least 10 years; bank staff participating in the B, C, K fronts during the anti-American resistance war before April 30, 1975, whose service time will be doubled (one year equals two years) when considering the award; former banking industry staff who were sent to the military, volunteer forces, to study, or transferred to other industries but later returned to work in the banking industry, their time will still be counted as continuous service in the banking industry when considering the award.

2. Individuals outside the banking industry (excluding those specified in Clause 3 of this Article) may be considered for the Commemorative Medal if they meet one of the following criteria:

a) Having leadership and guidance roles that contribute to the construction and development of the Vietnam Banking Industry;

b) They have proposed innovative ideas or scientific research projects of practical value for the activities of the Vietnamese Banking Industry;

c) Making direct and substantial material contributions to the development of the Vietnam Banking Industry.

3. Foreign individuals may be considered for the Commemorative Medal if they meet one of the following criteria:

a) Having worked in the Vietnam Banking Industry for ten years or more and performing their assigned tasks satisfactorily;

b) Foreign individuals working in diplomatic agencies and international organizations in Vietnam who have made significant contributions to the banking industry including: expanding financial cooperation with countries and international financial organizations; mobilizing international organizations and financiers to contribute and assist both spiritually and materially; contributing in advisory, training, technical assistance, and other ways to the Vietnam Banking Industry during its process of integration and international financial cooperation;

c) Special cases of a diplomatic nature decided by the Governor of the State Bank of Vietnam.

4. Time served under disciplinary measures shall not be counted towards the eligibility period for the Commemorative Medal. After the completion of the disciplinary period, consideration for the Commemorative Medal can only take place one year later.

5. The Commemorative Medal shall not be awarded in the following cases:

a) Individuals who have been disciplined and dismissed from their positions;

b) Individuals currently being pursued by law enforcement for criminal responsibility or involved in criminal cases without a conclusion from the competent authority; during the period of disciplinary review and implementation;

c) Individuals who are serving or have served a prison sentence (with or without suspended sentence) or undergoing non-custodial reform.

Chapter IV

AUTHORITY TO DECIDE AND PROCEDURES FOR AWARDS

Section 1

 AUTHORITY TO DECIDE

Article 14. Authority to decide on awarding commendation titles and forms of reward

1. The Governor of the State Bank of Vietnam decides to award:

a) The title "Advanced Worker" and "Model Worker at the Grassroots Level" to individuals belonging to the State Bank of Vietnam's Leadership Board;

b) The title "Model Worker in the Banking Industry";

c) The Flag of Merit of the State Bank of Vietnam;

e) Certificates of Merit to collectives, individuals, and households;

e) Commemorative medals for individuals.

2. Heads of Departments, Bureaus, units, and permanent offices of Party organizations and mass organizations at the headquarters of the State Bank of Vietnam decide to award the title "Advanced Labor Collective" to collectives; the title "Advanced Worker" and "Model Worker at the Grassroots Level" to individuals under their management.

3. Heads of non-profit units under the State Bank of Vietnam decide to award the title "Advanced Labor Collective" to collectives; the title "Advanced Worker" and "Model Worker at the Grassroots Level" to individuals under their management and Certificates of Merit.

a) The title "Outstanding Labor Collective" to small collectives under their management;

b) The title "Advanced Labor Collective" to collectives, the title "Advanced Worker" and "Model Worker at the Grassroots Level" to individuals under their management and Certificates of Merit.

a) The title "Outstanding Labor Collective" and "Advanced Labor Collective" to collectives; the title "Advanced Worker" and "Model Worker at the Grassroots Level" to individuals under their management;

b) The title "Outstanding Labor Collective" to People's Credit Funds and microfinance organizations within their jurisdiction;

c) Certificates of Merit to collectives and individuals under their management; collectives and individuals under credit organizations within their jurisdiction; collectives and individuals outside the banking industry.

6. Heads of units specified in point a, Clause 2, Article 3 of this Circular (excluding People's Credit Funds and microfinance organizations) decide to award the title "Outstanding Labor Collective" and "Advanced Labor Collective" to units.

7. Heads of units specified in point a of Clauses 2, 3, 4, 5, Article 3 of this Circular (excluding People's Credit Funds and microfinance organizations) decide to award the title "Outstanding Labor Collective" and "Advanced Labor Collective"; the title "Advanced Worker" and "Model Worker at the Grassroots Level" to collectives and individuals under their management and Certificates of Merit.

8. Chairmen of the Management Councils of People's Credit Funds, General Directors (Directors) of microfinance organizations decide to award the title "Advanced Labor Collective" to units; the title "Outstanding Labor Collective", "Advanced Labor Collective", "Advanced Worker", and "Model Worker at the Grassroots Level" to collectives and individuals under their management and Certificates of Merit.

Article 15. Competence to Recognize the Scope of Influence, Effectiveness of Application, and Replicability of Initiatives

1. The Governor of the State Bank of Vietnam recognizes the scope of influence, effectiveness of application, and replicability of initiatives within the banking industry and nationwide.

2. Heads of units recognize the scope of influence, effectiveness of application, and replicability of initiatives at the grassroots level.

Section 2

PROCEDURE FOR IMPLEMENTATION AND APPLICATION FILE FOR REWARD

Article 16. Reward Process and Line of Approval

1. Heads of units within the banking industry are responsible for rewarding or submitting to higher authorities for rewards individuals and collectives under their management. The level that initiates competitive activities shall consider rewards or propose higher authorities to reward individuals and collectives who achieve outstanding results in the movement of competitive activities.

2. Units within the banking industry submit reward application files directly to the One-Stop Service Unit of the State Bank of Vietnam or through postal services and proceed to online file declaration to the State Bank of Vietnam (through the Department of Organization and Cadres).

4. For the title "Flag of Competition of the State Bank of Vietnam" and "Flag of Competition of the Government": after receiving the unit's file or the Competitive Group, the Department of Organization and Cadres checks the legality of the file, assesses achievements, and compiles to submit to the Competition and Reward Council of the Banking Industry. Based on the review results of the Council, the Department of Organization and Cadres submits to the First Vice Chairman of the Competition and Reward Council of the Banking Industry for comments before submitting to the Governor of the State Bank of Vietnam for decision on rewards or proposing competent authorities to consider rewards.

9. For the titles "People's Teacher," "Outstanding Teacher," "Ho Chi Minh Prize," "State Prize": implemented according to the provisions of the Law on Competition and Reward and other regulations of the State. Specifically, for the titles "People's Teacher," "Ho Chi Minh Prize," and "State Prize," based on the review results of the Councils, the Department of Organization and Cadres submits to the Party Cadre Affairs Board of the State Bank of Vietnam for comments before submitting to the Governor of the State Bank of Vietnam to propose competent authorities to consider rewards.

12. Regarding rewards for dedication processes

(i) For retired or deceased officials who are Leaders of the State Bank, the Cadre and Civil Servant Department shall be responsible for preparing the application for commendation;

(ii) For other cases, the Head of the unit managing the official before retirement or death shall be responsible for preparing the application for commendation. In cases where the last working unit of the official eligible for commendation has been dissolved, split, merged, or consolidated, the Head of the unit receiving the tasks of that unit shall be responsible for preparing the application for commendation;

(iii) The Cadre and Civil Servant Department shall be responsible for reviewing, compiling, and submitting to the Competition and Commendation Council of the Banking Industry; based on the results of the Competition and Commendation Council of the Banking Industry's examination, the Cadre and Civil Servant Department shall submit to the Party Cadre Affairs Board for comments before submitting to the Governor of the State Bank for decision;

(i) For officials who are Leaders of the State Bank about to retire, the State Bank Office shall be responsible for preparing the application for commendation in accordance with regulations;

(ii) For other cases, the Head of the unit shall prepare the application for commendation for officials meeting the criteria within the unit. The Cadre and Civil Servant Department shall compile and submit to the Competition and Commendation Council of the Banking Industry, then submit to the Party Cadre Affairs Board for comments before submitting to the Governor of the State Bank for decision;

c) The Cadre and Civil Servant Department shall be responsible for: confirming in writing the period of service, the period of holding positions, and disciplinary measures, reasons, and periods of disciplinary measures (if any), and equivalent positions of the person proposed for commendation; coordinating with relevant units to resolve complaints (if any) regarding the commendation of officials who have made contributions in the Banking Industry;

13. Regarding Commemorative Medals

a) For individuals currently working or having worked in the Banking Industry: the Heads of units managing these individuals (including those who have retired or transferred jobs) shall prepare applications for those meeting the criteria and correct targets according to regulations and send them to the Cadre and Civil Servant Department;

c) For the subjects mentioned in points a and b of this clause, the Cadre and Civil Servant Department shall be responsible for reviewing the files, submitting to the First Vice Chairman of the Competition and Commendation Council of the Banking Industry for comments before submitting to the Governor of the State Bank for decision;

Article 17. Documents for Proposing Commendation Titles and Reward Forms

1. The documents for proposing commendation titles and reward forms shall be implemented in accordance with the Law on Competition and Rewards, the Government's Decree detailing certain provisions of the Law on Competition and Rewards, and the following regulations:

a) A proposal for rewards (Form No. 01 attached to this Circular) shall be prepared separately for each commendation title and reward form;

b) The number of achievement reports proposed for commendation titles and reward forms: Hero of Labor, Model Worker of the Whole Country, Flag of Excellence from the Government, Certificate of Merit;

c) For commendation titles and reward forms: Outstanding Labor Collective (collective recognized by the Governor of the State Bank of Vietnam), Flag of Excellence from the State Bank of Vietnam, Model Worker of the Banking Industry, Certificate of Merit from the Governor of the State Bank of Vietnam (excluding special and emergency rewards), the unit shall submit a summary of the achievement report of the collective and individual (the achievement report is kept at the unit);

d) Minutes of the meeting to review and award Certificates of Merit;

d) For individuals who have retired when submitting for commendation, attach the Decision on Retirement; for those about to retire, attach the Notice of Retirement.

2. Commemorative Medals, documents include:

a) For individuals within the banking industry

(i) The proposal for rewards from the head of the unit accompanied by a list of individuals proposed for rewards (Form No. 02 attached to this Circular);

(ii) A table of the individual's work history. For VietinBank, Vietcombank, BIDV, Agribank, Vietnam Policy Bank, Vietnam Cooperative Bank, Vietnam Deposit Insurance Corporation, Credit Cooperatives, and microfinance organizations, they do not need to send the table of the individual's work history to the State Bank of Vietnam, but the unit must keep and store it according to regulations (Form No. 03 attached to this Circular);

(iii) A table of the unit (Form No. 04 attached to this Circular).

b) For individuals outside the banking industry

(i) The proposal for rewards from the head of the unit accompanied by a list of individuals proposed for rewards (Form No. 01 attached to this Circular);

(ii) A summary of the contributions to the development of the Vietnamese banking industry, confirmed by the unit proposing the reward (Form No. 05 attached to this Circular).

Article 18. Time for Receiving Documents

1. Annual Rewards

a) For commendation titles and reward forms within the authority of the Governor of the State Bank of Vietnam, documents must be received before March 31 each year. Training institutions must receive documents before August 15 each year;

b) For national-level commendation titles and reward forms, documents must be received before April 30 each year. For the title of Model Worker of the Whole Country, documents must be received before August 15 each year. Training institutions must receive documents before August 15 each year;

c) For commendation titles and reward forms within the authority of the head of the unit: the head of the unit shall specify.

2. Commendations for Outstanding Achievements: applications must be received immediately after a collective or individual achieves an outstanding achievement.

3. Special Topic Rewards: documents must be received immediately after the conclusion of the special topic competition movement.

4. Rewards for Long-term Contributions: documents must be received six months prior for officials preparing to retire. For retired officials, documents must be submitted before April 30 each year.

5. Rewards based on the criteria stipulated in Clause 2, Article 10 of this Circular: documents must be received up to six months before retirement. For retired officials, documents must be submitted before March 31 each year.

Chapter V

COMPETITION AND REWARD COUNCILS AT ALL LEVELS AND INNOVATION COUNCILS AT ALL LEVELS

Article 19. The Commendation Council and the Initiative Council at all levels within the Banking Industry

1. The State Bank of Vietnam shall establish a Competition and Award Council for the Banking Sector and an Innovation Council for the Banking Sector.

2. Units shall establish Competition and Award Councils and Innovation Councils for their respective units.

Article 20. Composition of the Commendation Council of the Banking Industry

1. Chairman: Governor of the State Bank of Vietnam.

2. First Vice-Chairman: Deputy Governor of the State Bank of Vietnam responsible for the commendation work in the banking industry.

3. Acting Vice-Chairman: Director of the Organization and Cadres Department.

5. Secretary: Head of the Commendation and Reward Section, Organization and Cadres Department.

Article 21. Composition of the Commendation Council of units under the State Bank of Vietnam

1. Chairman: Head of the unit.

2. Vice-Chairman: Deputy Head of the unit.

4. Secretary: Staff member working in competition and award activities.

Article 22. Composition of the Commendation Council of credit organizations, foreign bank branches, Deposit Insurance Corporation of Vietnam, and enterprises managed by the State Bank of Vietnam

1. Chairman: Head of the unit. Specifically, for the Social Policy Bank, the Chairman of the Council is the General Director, and for foreign bank branches, it is the General Director (Director).

2. The Chairman of the Council decides the structure and composition of the members. The total number of council members does not exceed thirteen people.

3. Secretary: Head of the Commendation and Reward Section or staff engaged in commendation and reward work.

Article 23. Composition of the Commendation Council of permanent agencies of associations managed by the State Bank of Vietnam

1. Chairman: General Secretary.

2. The Chairman of the Council decides the structure and composition of the members. The total number of council members does not exceed nine people.

3. Secretary: Staff engaged in commendation and reward work.

Article 24. Composition of the Initiative Council of the Banking Industry

1. Chairman: Deputy Governor of the State Bank of Vietnam responsible for the commendation work in the banking industry.

2. Acting Vice-Chairman: Director of the Organization and Cadres Department.

3. Members and Secretary proposed by the Organization and Cadres Department and decided by the Governor of the State Bank of Vietnam.

Article 25. Composition of the Initiative Council of units

1. Chairman: Head of the unit.

2. The Chairman of the Council decides the structure and composition of the members.

Article 26. Principles of operation, tasks, and powers of the Commendation Council and the Initiative Council

1. The principles of operation, specific tasks, and powers of the Commendation Council and the Initiative Council of the Banking Industry are implemented according to the Working Regulations issued by the Governor of the State Bank of Vietnam.

2. The principles of operation, specific tasks, and powers of the Commendation Council and the Initiative Council of units are implemented according to the working regulations stipulated by the unit.

Chapter VI

RESPONSIBILITIES FOR PRIZE PAYMENTS, RIGHTS AND OBLIGATIONS OF GROUPS AND INDIVIDUALS AWARDED REWARDS

Article 27. Responsibility for Awarding Prizes

1. Groups and individuals are entitled to

a) For groups and individuals under the State Bank (excluding public service units), the State Bank shall provide prize money;

b) For groups and individuals under credit organizations, foreign bank branches, Vietnam Deposit Insurance Corporation, public service units, permanent offices of associations, and enterprises managed by the State Bank, the unit with the group or individual being commended shall be responsible for providing prize money;

2. Groups and individuals commended by the Governor of the State Bank:

a) For groups and individuals under the State Bank (excluding public service units) and groups and individuals outside the banking sector proposed for commendation by Departments, Bureaus, and units under the State Bank, the prize money shall be drawn from the State Bank's commendation fund;

b) For groups and individuals under credit organizations, foreign bank branches, Vietnam Deposit Insurance Corporation, public service units, permanent offices of associations, enterprises managed by the State Bank, and groups and individuals outside the banking sector proposed for commendation by units, the prize money shall be drawn from the unit's commendation fund;

a) For groups and individuals under the State Bank branch in provinces and cities and groups and individuals outside the banking sector proposed for commendation by the State Bank branch in provinces and cities, the prize money shall be drawn from the State Bank branch's commendation fund in provinces and cities;

b) For groups and individuals under credit organizations and groups and individuals outside the sector proposed for commendation by credit organizations, the prize money shall be drawn from the unit's commendation fund;

Article 28. Rights and Obligations of Groups and Individuals in Competitions and Commendations

1. Rights of groups and individuals in competitions and commendations

a) Participate in competition movements initiated by the State, the State Bank, agencies, organizations, and units;

b) Be nominated for consideration to receive commendation titles and forms according to the provisions of the law;

c) Have the right to give opinions or propose competent authorities to consider awarding commendation titles and forms to groups and individuals meeting the achievements and standards stipulated by the law, and vice versa;

d) Annually, individuals who have been commended will be considered for sending to study, research, and improve their professional skills.

2. Obligations of groups and individuals in competitions and commendations

a) Strictly comply with the regulations of the law, the State, the State Bank, agencies, organizations, and units in competition and commendation work;

b) Groups and individuals who have been commended have the obligation to preserve and keep commendation items, not to lend them to others to commit acts violating the law;

c) Refuse to accept titles or forms of recognition that are not commensurate with achievements and do not meet the prescribed standards and procedures set forth by law;

d) Have the responsibility to identify individuals with outstanding achievements, exemplary people and good deeds, typical advanced models to promptly propose commendation or report and denounce groups and individuals committing fraudulent acts, violating the regulations of the law on competitions and commendations.

Chapter VII

IMPLEMENTATION

Article 29. Reporting Competition and Commendation Work

1. At the end of the year, units shall summarize and evaluate competition and commendation work and submit written reports to the State Bank (through the Department of Organization and Cadres) before February 15 of the following year. For the Banking Academy and Ho Chi Minh City University of Banking, submit annual summary reports before August 15 each year. The outline for summarizing competition and commendation work follows Model 19 of this Circular.

2. When initiating competitions, units shall be responsible for submitting competition initiation documents, and after each competition movement, units shall be responsible for submitting summary reports to the State Bank (through the Department of Organization and Cadres) for monitoring and as a basis for commendation consideration.

Article 30. Responsibilities of Units

1. The Cadre and Civil Service Department shall be responsible for proposing the Governor of the State Bank of Vietnam to decide on:

a) The maximum non-performing loan ratio for consideration in awarding incentives to credit institutions, branches of credit institutions, foreign bank branches, and individuals who are Managers or Operators of credit institutions, General Directors (Directors) of foreign bank branches;

b) The ratio of awards for the title of "Outstanding Labor Collective" for units.

4. Departments and units related to the State Bank of Vietnam shall be responsible for providing information to serve the work of considering incentives for collectives and individuals within the State Bank of Vietnam, the Vietnam Deposit Insurance Corporation, training facilities, permanent offices of associations, and enterprises managed by the State Bank of Vietnam.

6. The Finance and Accounting Department shall be responsible for coordinating with the Cadre and Civil Service Department in guiding the use of the Competition and Incentive Fund, payment of incentives of the State Bank of Vietnam in accordance with regulations, and compiling data on revenue and expenditure to send to the Cadre and Civil Service Department on a regular annual basis (within 45 days from the end of the year).

7. Heads of units at point a of Articles 2, 3, 4, and 5 of this Circular shall be responsible for guiding regulations on competition and incentive activities suitable to the scale and nature of operations of their units.

8. Heads of units shall be responsible for evaluating achievements, confirming achievements, procedures, and files for submitting incentives, contents related to implementing Party policies, state laws, banking sector regulations, and rules, and shall be responsible for incentive decisions and submitting them to higher authorities for approval.

Article 31. Effective Date

This Circular shall take effect from February 28, 2024, and replace Circular No. 17/2019/TT-NHNN dated October 31, 2019, issued by the Governor of the State Bank of Vietnam guiding competition and incentive activities in the banking sector.

Article 32. Implementation Organization

The Chief of the Office, Heads of units under the State Bank of Vietnam, Chairmen of the Board of Directors, Chairmen of the Board of Members, and General Directors (Directors) of credit institutions, foreign bank branches, the Vietnam Deposit Insurance Corporation, enterprises managed by the State Bank of Vietnam, and Secretaries-General of associations managed by the State Bank of Vietnam shall be responsible for organizing the implementation of this Circular./.