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Legal Update

Independent Audit of Credit Institutions and Foreign Bank Branches

6 January 2012
Mayer Brown Legal Update
On 15 December 2011, the State Bank of Vietnam (SBV) issued Circular No. 39/2011/TT-NHNN (Circular 39) on independent audit of credit institutions and foreign bank branches. The issuance of Circular 39 to enforce independent bank audits is the latest example of the Vietnamese Government's determination to ensure the healthy operation of its banking system.
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