On March 30, the Government Office announced that Deputy Prime Minister Le Minh Khai signed Decision No. 257/QD-TTg promulgating the Plan to implement the Law on Credit Institutions No. 32/2024/QH15.
Accordingly, in the first and second quarters of 2024 and the following years, the State Bank will take the lead in organizing the dissemination of the provisions of the law.
In April 2024, the State Bank of Vietnam shall preside over the review of legal documents related to the law under its authority; promptly amend, supplement, replace, abolish or issue new legal documents to ensure compliance with the provisions of the Law and detailed documents under the law.
The State Bank of Vietnam and the Ministry of Finance shall preside over and coordinate with the Ministry of Justice, the Government Office, ministries, branches and localities to develop, submit to the Government for promulgation and promulgate under their authority documents detailing the implementation of laws according to the list and schedule specified in the Prime Minister's Decision on promulgating the List and assigning agencies to preside over drafting documents detailing the implementation of laws and resolutions passed by the 15th National Assembly at the 5th Extraordinary Session (drafted by the Ministry of Justice).
The State Bank of Vietnam, the Ministry of Finance, the Ministry of Labor, War Invalids and Social Affairs, the Ministry of Justice, and the Ministry of Natural Resources and Environment shall review the provisions of the Law on Credit Institutions assigned to the Government and the Prime Minister to promulgate under their authority, develop and submit to competent authorities for amendments, supplements, and promulgation of documents guiding the implementation of the Law on Credit Institutions under their authority, ensuring compliance with the effective date of the Law on Credit Institutions from July 1, 2024.
The content of the provisions of the Law on Credit Institutions to be reviewed is related to the responsibilities of ministries and branches:
The State Bank of Vietnam reviews and develops a Government Decree regulating the organization and operation of the Vietnam Bank for Social Policies (Clause 2, Article 16; Clause 2, Article 17; Clause 1, Article 19; Clause 4, Article 20; Clause 4, Article 22; Article 26 of the Law); a Government Decree regulating the licensing conditions of credit institutions and foreign bank branches (Clause 5, Article 29 of the Law); a Government Decree regulating non-cash payments (Clause 2, Article 110 of the Law).
At the same time, review the Prime Minister's decision regulating the conditions, documents, and procedures for requesting approval of maximum credit limits exceeding the limits of credit institutions and foreign bank branches (Clause 7, Article 136 of the Law) and other relevant provisions of the Law...
The Ministry of Finance reviews and develops a Government Decree regulating the organization and operation of the Vietnam Development Bank (Clause 2, Article 16; Clause 2, Article 17; Clause 1, Article 19; Clause 4, Article 20; Clause 4, Article 22; Article 26 of the Law), a Government Decree regulating the financial mechanism of policy banks (Article 26 of the Law) and other relevant provisions of the Law.
The Ministry of Labor, War Invalids and Social Affairs reviews and develops a Government Decree regulating the salary and allowance regime for policy bank officials and employees (Article 26 of the Law) and other relevant provisions of the Law.
The Ministry of Natural Resources and Environment reviews and develops a Government Decree regulating the registration of land changes for secured assets such as land use rights and assets attached to land of debts originating from bad debts of credit institutions and foreign bank branches (Clause 4, Article 198 of the Law) and other relevant provisions of the Law.
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