Eximbank appoints all-foreign nationality Board of Directors

Eximbank (Vietnam Export-Import Commercial Joint Stock Bank) has restructured its Board of Directors to consist entirely of members with foreign nationalities. Following an extraordinary general meeting on July 24, Nguyen Le Quoc Anh was appointed Chairman; he is a Vietnamese-origin individual holding US citizenship. The remaining five board members—Ho Poh Wah, Chua Teck Huat Bill, Michael Richard Harte, Ooi Huey Tyng, and Richa Goswami—are international experts.

This structure is considered a first for a domestic joint-stock commercial bank in Vietnam. Although Eximbank is not a 100% foreign-owned bank or a foreign branch, it operates under Vietnamese law and is supervised by the State Bank of Vietnam.

Legal and economic experts noted that this arrangement does not violate current regulations. Lawyer Truong Thanh Duc stated that the Law on Credit Institutions focuses on ethical standards, professional qualifications, and experience rather than nationality. Economist Le Ba Chi Nhan suggested that such a model could bring modern international management practices to the Vietnamese banking sector.