SBV promulgates Circular on internal control and audit of credit institutions and foreign bank branches

The State Bank of Vietnam (SBV) issued Circular No. 44/2011/TT-NHNN on December 29, 2011 on the system of internal control and audit of credit institutions and foreign bank branches.

The Circular aims at guiding credit institutions and branches of foreign banks in implementing the Law on Credit Institutions and improving their risk management and governance capacity.

The Circular including 5 chapters and 40 articles will take effect on February 12, 2012, and replace Decision No. 36/2006/QĐ-NHNN dated August 1, 2006 on internal control and audit of credit institutions and Decision No. 37/2006/QĐ-NHNN dated August 1, 2006 on  internal audit of credit institutions.

Le Hang

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