Circular 39/2026/TT-NHNN amend Circular 16/2014/TT-NHNN on use of foreign currency and VND accounts of residents and non-residents at licensed banks

CIRCULAR

Amending and supplementing a number of articles of Circular No. 16/2014/TT-NHNN guiding the use of foreign currency and Vietnam dong accounts of residents and non-residents at licensed banks

Pursuant to the Law on the State Bank of Vietnam No. 46/2010/QH12;

Pursuant to the Law on Credit Institutions No. 32/2024/QH15, amended and supplemented under Law No. 96/2025/QH15;

Pursuant to Ordinance No. 28/2005/PL-UBTVQH11 on Foreign Exchange, amended and supplemented under Ordinance No. 06/2013/UBTVQH13;

Pursuant to the Government’s Decree No. 70/2014/ND-CP detailing the implementation of a number of articles of the Ordinance on Foreign Exchange and the Ordinance Amending and Supplementing a Number of Articles of the Ordinance on Foreign Exchange;

Pursuant to the Government’s Decree No. 26/2025/ND-CP defining the functions, tasks, powers and organizational structure of the State Bank of Vietnam, amended and supplemented under Decree No. 198/2026/ND-CP;

At the proposal of the Director of the Foreign Exchange Management Department;

The Governor of the State Bank of Vietnam hereby promulgates the Circular amending and supplementing a number of articles of Circular No. 16/2014/TT-NHNN guiding the use of foreign currency and Vietnam dong accounts of residents and non-residents at licensed banks.

Article 1. To add Article 2a after Article 2

“Article 2a. Principles of use of foreign currency and Vietnam dong accounts opened by non-residents being foreign credit institutions at licensed banks

1. Non-residents being foreign credit institutions may use their foreign currency and Vietnam dong accounts at licensed banks to conduct the following transactions:

a) International payment and money transfer transactions for customers of such foreign credit institutions under written agreements between the licensed banks and the foreign credit institutions;

b) Collection and spending transactions specified in Articles 5 and 7 of this Circular.

2. The use of accounts and other matters shall comply with written agreements between licensed banks and foreign credit institutions on the basis of compliance with Vietnamese law.”.

Article 2. To amend and supplement Article 9

“Article 9. Responsibilities of licensed credit institutions and resident and non-resident organizations and individuals

1. Licensed credit institutions shall:

a) Comply with, and guide their customers in complying with, this Circular;

b) Specify, examine and retain papers and documents appropriate to actual transactions to ensure that foreign exchange services are provided for proper purposes and in accordance with law;

c) Take responsibility for the provision of payment and money transfer services through accounts opened by non-residents being foreign credit institutions at such licensed credit institutions, and comply with relevant regulations of the law on non-cash payment, the law on foreign exchange management, this Circular and other relevant regulations;

d) Fully comply with the provisions of law on prevention and combat of money laundering, terrorist financing and financing of the proliferation of weapons of mass destruction.

2. Other related organizations and individuals shall:

a) Strictly comply with this Circular;

b) Produce papers and documents as required by licensed credit institutions when conducting foreign exchange transactions, and take responsibility before law for the authenticity of the papers and documents produced to licensed credit institutions;

c) Fully comply with the provisions of law on prevention and combat of money laundering, terrorist financing and financing of the proliferation of weapons of mass destruction.”.

Article 3. To amend and supplement Clause 2, Article 11

“2. Heads of related units under the State Bank and licensed credit institutions shall organize the implementation of this Circular.”.

Article 4. Implementation provisions

This Circular takes effect on September 19, 2026.

Article 5. Organization of implementation

Heads of related units under the State Bank of Vietnam, credit institutions, foreign bank branches, and related organizations and individuals shall implement this Circular./.

For the Governor

Deputy Governor

PHAM THANH HA