VietnameseOfficial Dispatch No. 78/NHNN-QLNH of January 21, 2003, opening of foreign currency account in foreign countries
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Official Dispatch No. 78/NHNN-QLNH of January 21, 2003, opening of foreign currency account in foreign countries
| 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: | 78/NHNN-QLNH | Signer: | Phung Khac Ke |
| Type: | Official Dispatch | Expiry date: | Updating |
| Issuing date: | 21/01/2003 | 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. 78/NHNN-QLNH Re: opening of foreign currency account in foreign countries | Hanoi, January 21, 2003 |
To: | - General Managers (Managers) - Credit Institutions permitted to engage in foreign exchange activities |
With the view to facilitating foreign currency business and international payment of credit institutions, as well as to secure requirements of foreign exchange control in the context of integration, the State Bank provides specific guidance on the opening of foreign currency accounts in foreign countries of credit institutions as provided for in point 4 Section I Chapter V Part II of the Circular No. 01/1999/TT-NHNN7 dated 16 April, 1999 guiding the implementation of the Decree No. 63/1998/ND-CP on the foreign exchange control as follows:
1. In respect of credit institutions to which the State Bank has granted the licence of foreign exchange business that permits them to carry out the international payment service, purchase and selling of foreign currency in foreign counties and the licence of opening and use of foreign currency accounts in foreign countries, General Directors (Directors) shall have the authority to make decision on the opening of additional foreign currency accounts in foreign countries, when they have requirements to do so.
2. Within 15 working days from the date of additional opening of foreign currency accounts in foreign counties, credit institutions must report in writing (in accordance with enclosed sample form) to the State Bank (the Foreign Exchange Control Department), at the same time, send a copy to the Banks Department for following up and management.
3. Credit institutions that are permitted to open and use foreign currency accounts in foreign countries shall strictly comply with the reporting regime in accordance with the Official Dispatch No. 1247/NHNN-QLNH dated 15 November, 2002 of the State Bank.
The State Bank of Vietnam would like to inform to credit institutions for the acknowledgement and implementation.
FOR THE GOVERNOR OF THE STATE BANK DEPUTY GOVERNOR Phung Khac Ke |
SAMPLE REGISTRATION FORM FOR THE ADDITIONAL OPENING OF FOREIGN CURRENCY ACCOUNTS IN FOREIGN COUNTRIES
CREDIT INSTITUTION ----------- | SOCIALIST REPUBLIC OF VIETNAM Independence Freedom Happiness ---------------------- |
No. /CV Registration for the opening and use of foreign currency accounts in foreign countries | Province, city date............................ |
To: | - The Foreign Exchange Control Department - The Banks and Non-bank Credit Institutions Department (The State Bank of Vietnam) |
Name of credit institution:.......................................................................................................
Trading name (if any)..............................................................................................................
Head office:...........................................................................................................................
Telephone:................................................................... Fax:..................................................
The number of the licence of foreign exchange business:.................... Date of issue:..................
The number of the licence for the opening and use of foreign currency accounts in foreign countries: Date of issue:
Credit institution would like to report the additional opening of foreign currency accounts in foreign countries to the State Bank of Vietnam as follows:
Day .....month ....year .....when the foreign currency account is additionally opened in foreign countries.
- Number of account:..............................................................................................................
- Type of foreign currencies:....................................................................................................
- At bank: .................................................................... , country:..........................................
- The purpose for the additional opening of foreign currency account in foreign countries:
We undertake to seriously comply with current provisions of the State on foreign exchange control.
Enclosed documents: - Licence of foreign exchange business (copy) - Licence of the opening of foreign currency accounts - Documents relating to the opening of foreign exchange accounts | GENERAL DIRECTOR (DIRECTOR) (Sign and seal) |
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