VietnameseOfficial Dispatch No. 2879/NHNN-QLNH dated April 22, 2009 of the State Bank of Vietnam inspecting, regulating foreign exchange activity
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Official Dispatch No. 2879/NHNN-QLNH dated April 22, 2009 of the State Bank of Vietnam inspecting, regulating foreign exchange activity
| Issuing body: | State Bank of Vietnam | Effective date: | Known Please log in to a subscriber account to use this function. Don’t have an account? Register here |
| Official number: | 2879/NHNN-QLNH | Signer: | Nguyen Van Binh |
| Type: | Official Dispatch | Expiry date: | Updating |
| Issuing date: | 22/04/2009 | Effect status: | Known Please log in to a subscriber account to use this function. Don’t have an account? Register here |
| Fields: | Finance - Banking |
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THE STATE BANK OF VIETNAM ------------- | SOCIALIST REPUBLIC OF VIETNAM Independence- Freedom - Happiness ---------------------- |
No. 2879/NHNN-QLNH Ref: inspecting, regulating foreign exchange activity | Hanoi, April 22, 2009 |
To: | - General Directors (Directors) of Credit Institutions authorized to supply foreign exchange service |
In recent time, Credit Institutions authorized to supply foreign exchange service (authorized credit institution) have tried their best to guide economic organizations which are delegated as foreign currency exchange agents to implement provisions in the Regulation on foreign currency exchange Agent, issued in conjunction with the Decision No. 21/2008/QD-NHNN dated 11 July 2008 of the Governor of the State Bank.
However, there currently arises circumstance that several organizations, individuals make use of operation of foreign currency exchange agent to illegally trade in foreign currency. In order to regulate the above- mentioned situation, the State Bank requests authorized credit institutions to implement some of following contents:
1. To speed up, guide delegated Agents of foreign currency exchange to seriously implement current provisions on foreign currency exchange activity
2. To intensify inspection, control over activities of foreign currency exchange Agents delegated by authorized credit institutions. During process of inspection, if detecting that any foreign currency exchange Agent violates provisions in the Agent Contract and provisions in the Regulation on foreign currency exchange agent issued in conjunction with the Decision No. 21/2008/QD-NHNN, then, to take measures of settlement in accordance with current provisions and make report to State Bank branch in the locality.
3. General Directors (Directors) of authorized credit institutions shall be responsible for operation of delegated foreign currency exchange Agents. Depending on nature, seriousness of violation of Delegated Agents, the State Bank shall take appropriate measures of settlement, including consideration of limiting some business operations of authorized credit institutions.
The State Bank would like to request General Directors (Directors) of authorized credit institutions to strictly implement above- mentioned contents.
FOR THE GOVERNOR OF THE STATE BANK OF VIETNAM DEPUTY GOVERNOR Nguyen Van Binh |
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