pc
nid 94226
Jul 24, 2026
pthandapani@vixio.com
Vietnam
The State Bank Of Vietnam
financial services
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1652 charsVietnam's State Bank Amends Banking Document Retention Requirements Through Circular 37/2026
On July 19, 2026, the State Bank of Vietnam (SBV) issued Circular 37/2026/TT-NHNN, which amends and supplements provisions of Circular 04/2025/TT-NHNN dated May 15, 2025. The amendment modifies regulations governing the retention periods for banking sector files and documents.
Circular 04/2025/TT-NHNN originally established comprehensive requirements for document retention across Vietnam's banking industry. The SBV's latest amendment updates specific provisions within this framework, though the detailed modifications are contained within the circular's full text.
The circular applies to all banking sector organisations operating in Vietnam, including commercial banks, policy banks, non-bank credit institutions, microfinance organisations, and other financial entities subject to SBV oversight. Document retention requirements are critical compliance obligations that ensure banking institutions maintain adequate records for regulatory examination, audit purposes, and legal proceedings.
Banking institutions must review Circular 37/2026 to identify which retention periods have been modified and ensure their document management systems comply with the updated requirements. Failure to maintain records in accordance with SBV-mandated retention periods constitutes a regulatory violation and may result in enforcement action.
The circular became effective upon publication on July 19, 2026. All banking sector entities should implement necessary changes to their records management procedures to align with the amended requirements. Questions regarding specific retention obligations should be directed to the SBV's relevant departments.
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1828 charsState Bank of Vietnam Amends Banking Document Retention Requirements Through Circular 37/2026
On July 19, 2026, the State Bank of Vietnam (SBV) issued Circular No. 37/2026/TT-NHNN amending and supplementing Circular No. 04/2025/TT-NHNN regarding the retention period for records and documents in the banking sector.
The issued circular contains:
Administrative measures detailing the requirement for credit institutions, foreign bank branches, and intermediary payment service providers that are dissolving, going bankrupt, or terminating operations to transfer all payment account, e-wallet, and Anti-Money Laundering (AML) records to the SBV prior to their license expiration or revocation.
Specific rules mandating a 10-year retention period for payment account and e-wallet opening or closing records, as well as transaction documents and payment orders, calculated from the closing year or the end of the annual accounting period.
Regulations prescribing a mandatory 10-year archive period for high-level AML and counter-terrorist financing (CFT) records, including suspicious transaction reports processed by the SBV, IT system designs, data preservation procedures, risk assessments, internal audits, and internal rules.
Provisions outlining the duty of reporting entities to retain customer identification data, transaction analyses, and specific transaction reports—such as large value, suspicious, or electronic transfer reports—for 5 years from the end of the transaction, account closure, or termination of the business relationship.
Directives establishing that the SBV must preserve transferred records from terminated institutions for a minimum of 5 years, while ensuring that any information shared with other state agencies strictly complies with information confidentiality and personal data protection laws. The circular enters into effect from July 19, 2026.
The circular takes immediate effect.