Credit institutions deploy the electronic banking services without approval of State Bank of Vietnam (SBV).

Credit institutions deploy the electronic banking services without approval of State Bank of Vietnam as per Official Letter No.5286/NHNN-TTGSNH dated 23 July 2013 of SBV Governor.

Post date: 12-02-2014

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Credit institutions may deploy the electronic banking services without approval of State Bank of Vietnam

Credit institutions may deploy the electronic banking services without approval of State Bank of Vietnam

With respect to deploying the electronic banking service of credit institutions, foreign bank branches, SBV issued Official Letter No.5286/NHNN-TTGSNH dated 23 July 2013 giving some following opinions:

1. Credit institutions and foreign bank branches may actively make decision on deployment of the electronic banking service as the conditions for providing the electronic banking services are ensured within the scope of operation contents  permitted by SBV Governor in the operation license and they are them self responsible for risks arisen (if any).

2. When providing the electronic banking services, the credit institutions and foreign bank branches shall comply with the provisions of related laws  on IT, including Law on electronic transactions, Decree 35/2007/ND-CP dated 8 March 2007 of Government on electronic transaction in banking activities; Decree 97/2008/ND-CP dated 28 August 2008 of Government on management, supply and use of internet services and electronic information; Decision  35/2006/QD-NHNN dated 31 July 2006 of SBV Governor regulating the principles of risk management in electronic banking activities; Circular 01/2011/TT-NHNN dated 21 Feb 2011 of SBV Governor on assurance of security, confidence of IT system in banking activities; Circular 29/2011/TT-NHNN dated 21 Sept 2011 of SBV Governor on confidence in providing banking service and report to SBV (via IT Division, Banking Supervisory Agency and SBV Branch)

This Official Letter signed by Mr. Nguyen Dang Hong on behalf banking supervisory agency of SBV. 

This means that a credit institution may deploy the electronic banking service such as internet banking, SMS etc without application for additional contents mentioned in operation license provided that conditions mentioned above ensured.  

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