The above-mentioned temporary regulation issued together with the Decision No. 375/QD-BHTG dated June 30, 2023 by the Board of Directors of the DIV took effect from the date of signing. The regulation consists of 3 chapters with 14 articles, outlining the form of personnel appointment, the authority to approve personnel appointment proposals, the duration, and the procedure for personnel appointment, as well as salary, bonuses, benefits, and other policies for appointed personnel. It also covers performance evaluation, commendation and reward, and the arrangement and organization of appointed personnel after completing their tasks, along with reporting requirements that appointed personnel must adhere to.
Accordingly, the regulation is applicable to employees holding positions at the DIV’s branches including: Directors, deputy directors of the branches; heads, deputy heads of departments at the branches. The criteria for personnel appointment are as follows:
- Having credibility and a good legal compliance conscience.
- Holding a bachelor's degree or higher.
- Having at least 1 year of managerial or operational experience in one of the banking, financial, accounting, or auditing fields (for the Chairman of the Board of Directors position) or in the banking and financial field (for the Director position).
Additionally, employees with personal willingness to undertake tasks, and those who have completed relevant training or have participated in the Board of Special Control at the PCFs may also be given priority of consideration for appointment.
Previously, in the announcement No. 135/TB-NHNN dated April 22, 2022, SBV’s standing Deputy Governor Dao Minh Tu issued a directive instructing the DIV to actively participate in the restructuring of the State-owned enterprises (SOEs) using DIV's resources. The Deputy Governor requested the DIV to establish a mechanism for appointing officials to join the Board of Directors and the Managing Board of weak PCFs under special control.
Following this, in the Directive No. 3325/NHNN-TTGSNH dated May 18, 2022, the SBV’s Deputy Governor instructed the DIV to be prepared and to collaborate with SBV’s provincial and city branches where PCFs under special control are located to appoint personnel who meet the criteria and conditions stipulated in the Circular No. 21. These personnel would be appointed as Chairman or Director of PCFs under special control by the SBV’s provincial and city branches.
Additionally, the Deputy Governor directed the DIV to develop internal regulations for appointing personnel, ensuring the standards and conditions necessary for the appointment of Chairman or Director of PCFs under special control according to the recommendations of the SBV’s provincial and city branches.
Currently, the issuance of temporary regulation aims to address the urgent requirement for appointing personnel to the positions of Chairman of the Board of Directors and Managing Director of PCFs under special control, with specific provisions on certain aspects. The implementation of this regulation in practice may induce challenges and problems that need to be resolved. Experiences then should be gained, and the regulation will need further revision.
In the short term, the DIV desires that the appointment of individuals to participate in the management and operation of PCFs under special control in accordance with the requirement of the SBV is carried out based on a consistent and harmonized legal framework, ensuring the full rights and benefits of employees as specified by the regulations. Furthermore, the regulation implemention should be continued with relevant agencies researching, summarizing, recording, and comprehensively evaluating the results of the implementation in order to refine the regulation.
Department of Research and International Cooperation (translation)
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