TITLE: Vietnam State Bank Issues Amendments to Banking Record Retention Requirements
BODY:
On July 19, 2026, Vietnam's State Bank (Ngân hàng Nhà nước Cộng hòa Xã hội Chủ nghĩa Việt Nam) issued Circular 37/2026/TT-NHNN, which amends and supplements Circular 04/2025/TT-NHNN regarding record retention periods for banking sector documents and files.
The circular introduces new requirements for credit institutions, foreign bank branches, and payment intermediary service providers. When these entities dissolve, become insolvent, or cease operations, they must transfer records and documents relating to payment account opening and usage, electronic wallets, anti-money laundering compliance documentation, and other legally mandated information to the State Bank. The transfer must occur before the entity's operating license expires or before the State Bank's license revocation decision takes effect. Records transferred to the State Bank must be retained for a minimum of five years from the date of transfer. The circular also establishes that information disclosure to state agencies and other organisations must comply with applicable data security and personal data protection legislation.
The circular modifies retention periods for banking sector records. For payment account opening and closure files, and customer transaction records on payment accounts and electronic wallets, the retention period is ten years, calculated from the year the account closes or from the end of the accounting year. For anti-money laundering documentation, retention periods vary between five and ten years depending on record type, calculated from the year transactions cease, accounts close, or business relationships end.
The circular takes effect on July 19, 2026. Credit institutions, foreign bank branches, payment intermediary service providers, the Deposit Insurance Corporation of Vietnam (Bảo hiểm tiền gửi Việt Nam), and related organisations must implement the new requirements.