On May 17, 2019, the Government has issued Decree No. 43/2019/ND-CP amending and supplementing a number of articles of Decree No. 26/2014/ND-CP dated April 7, 2014 on organization and operation of Banking Inspection and Supervision.
Accordingly, one of the important contents that should be considered is the addition of duties and powers of the Chief of Banking Investigation and Supervision. Specifically, from the time of 17/05/2019, when detecting signs of violation of law or when there are signs of risks threatening the safety of operation of credit institutions, Chief of Investigation, supervision The Bank has the right to request the Director of the State Bank branch to conduct the inspection, in case the Director of the State Bank branch does not agree to conduct the inspection, it shall report and be responsible to the State Bank Governor.
In addition, Chief Inspector and Supervisor of the Bank has the right to issue a decision to re-inspect the case with previous inspection conclusions if there are signs of violation of the law.
Thus, with the promulgation of Decree 43/2019/ND-CP, the Banking Inspection and Supervision Agency has added a number of tasks and powers to serve the inspection and supervision of the activities of credit institutions, contributing to improving the transparency of the money market.