VietnameseOfficial Dispatch No. 635/CV-QLNH of October 10, 2002, re opening and use of specialized foreign currency deposit account
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Official Dispatch No. 635/CV-QLNH of October 10, 2002, re opening and use of specialized foreign currency deposit account
| 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: | 635/CV-QLNH | Signer: | Phi Dang Minh |
| Type: | Official Dispatch | Expiry date: | Updating |
| Issuing date: | 10/10/2002 | 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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Effect status: Known
STATE BANK OF VIETNAM ------- | SOCIALIST REPUBLIC OF VIETNAM Independence- Freedom- Happiness --------- |
No. 635/CV-QLNH Re: Opening and use of specialized foreign currency deposit account | Hanoi, October 10th , 2002 |
To: General Managers (Managers) of permitted commercial banks
With the view to strictly implementing provisions on specialized foreign currency deposit account stipulated in the Circular No. 04/2001/TT-NHNN dated 18 May, 2001 of the Governor of the State Bank providing guidance on foreign currency control for enterprises with foreign invested capital and foreign parties to business cooperation contract, commercial banks permitted to engage in foreign currency business (CB) should supervise and speed up enterprises with foreign invested capital and foreign parties to business cooperation contract to implement several following works:
1. Enterprises with foreign invested capital and foreign parties to business cooperation contract shall open an specialized foreign currency deposit account for the implementation of transactions provided for in point 3, Section II of the Circular No. 04/2001/TT-NHNN dated 18 May, 2001 of the Governor of the State Bank.
2. Commercial banks should provide guidance to enterprises with foreign invested capital and foreign parties to business cooperation contract on requirements and procedures of the opening and use of the specialized foreign currency deposit account in accordance with above provisions. All transactions provided for in point 3, section II, the Circular No. 04/2001/TT-NHNN shall not be performed through the checking foreign currency account.
The State Bank informs to General Managers (Managers) of commercial banks permitted to engage in foreign currency business for their acknowledgement and implementation.
ON BEHALF OF THE GOVERNOR OF THE STATE BANK FOR THE DIRECTOR OF FOREIGN EXCHANGE CONTROL DEPARTMENT DEPUTY DIRECTOR Phi Dang Minh |
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