Circular 28/2014/TT-NHNN on foreign exchange activities of credit institutions and branches of foreign banks in Vietnam, including conditions, procedures for obtaining permission, responsibilities of related parties, and effectiveness from October 15, 2014. This Circular replaces Circular No. 03/2008/TT-NHNN and Article 3 of Circular No. 25/2011/TT-NHNN.
Đối tượng áp dụng
Credit institutions and branches of foreign banks in Vietnam
Các điểm cốt lõi
- Conditions for credit institutions to be permitted to engage in foreign exchange activities
- Procedures for applying for permission to conduct foreign exchange activities
- Contents of foreign exchange activities for each type of credit institution
- Responsibilities of credit institutions and units under the State Bank of Vietnam in managing and supervising foreign exchange activities.
- Effective from October 15, 2014
🌐 Tác động xã hội từ văn bản này
- Strengthening management of foreign exchange activities of credit institutions and branches of foreign banks
- Ensuring national financial system safety
- Developing the domestic foreign exchange market in a healthy and effective manner
❓ Câu hỏi thường gặp
What circulars does Circular 28/2014/TT-NHNN replace?
This Circular replaces Circular No. 03/2008/TT-NHNN dated April 11, 2008, and Article 3 of Circular No. 25/2011/TT-NHNN dated August 31, 2011.
Which bank is responsible for reviewing applications for permission to conduct foreign exchange activities?
The Credit Institution Management and Supervision Department is the main unit receiving and reviewing applications for permission to conduct foreign exchange activities of credit institutions and branches of foreign banks.
What responsibilities must credit institutions fulfill when conducting foreign exchange activities?
Credit institutions must comply with the contents recorded in the License for Establishment and Operation, as stipulated in this Circular and other relevant regulations; ensure safety in banking operations; establish operational procedures and risk management; display exchange rates for buying and selling foreign currencies; guide agents in their operations; report statistics as required by the State Bank of Vietnam.
Toàn văn
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| SOCIALIST REPUBLIC OF VIET NAM
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CIRCULAR
Guidelines on the scope of foreign exchange operations, conditions, procedures, and formalities for approving foreign exchange activities of credit institutions and foreign bank branches.
Circular No. 21/2014/TT-NHNN dated August 14, 2014, issued by the Governor of the State Bank of Vietnam, provides guidelines on the scope of foreign exchange operations, conditions, procedures, and formalities for approving foreign exchange activities of credit institutions and foreign bank branches. organization credit institutions and foreign bank branches, effective from October 15, 2014, amended and supplemented by:
1. Circular No. 28/2016/TT-NHNN dated October 5, 2016, issued by the Governor of the State Bank of Vietnam, amending and supplementing certain articles of Circular No. 21/2014/TT-NHNN dated August 14, 2014, issued by the Governor of the State Bank of Vietnam, providing guidelines on the scope of foreign exchange operations, conditions, procedures, and formalities for approving foreign exchange activities of credit institutions and foreign bank branches, effective from November 18, 2016.
2. Circular No. 75/2025/TT-NHNN dated December 31, 2025, issued by the Governor of the State Bank of Vietnam, amending and supplementing certain provisions in legal documents governing the management of foreign exchange service supply and usage to implement plans to reduce and simplify administrative procedures, effective from December 31, 2025.
Pursuant to the Law on the State Bank of Vietnam No. 46/2010/QH12 dated June 16, 2010;
Pursuant to the Law on Credit Institutions No. 47/2010/QH12 dated November 16 the 2010;
Pursuant to the Foreign Exchange Ordinance No. 28/2005/PL-UBTVQH11 dated August 13 the 2005 and Ordinance No. 06/2013/UBTVQH13 dated March 18 the 2013 amending, MANAGEMENT AND USE OF DEPOSITS AT THE ENVIRONMENT PROTECTION FUND certain articles of the Foreign Exchange Ordinance;
On the basis of Government Decree No. Decision No. 156/2013/NĐ-CP dated November 11, 2013, of the Government stipulating the functions, tasks, powers, and organizational structure of the State Bank of Vietnam;
At the proposal of the Director of the Foreign Exchange Management Department,
The Governor of the State Bank of Vietnam issues this Circular providing guidelines on the scope of foreign exchange operations, conditions, procedures, and formalities for approving foreign exchange activities of organization credit institutions and foreign bank branches[1] ,[2].
Chapter I. GENERAL PROVISIONS
Article 1. Scope of Regulation
1. This Circular regulates the scope of foreign exchange operations, conditions, procedures, and formalities for approving foreign exchange activities of credit institutions and foreign bank branches.
2. The gold trading activities of credit institutions and foreign bank branches shall be carried out in accordance with relevant laws.
3. The foreign borrowing activities of credit institutions and foreign bank branches shall be carried out in accordance with stipulating the laws for on foreign borrowing and repayment.
4. Commercial banks, cooperative banks credit institutions, policy banks, finance companies REGULAR, factoring finance companies, consumer finance companies, leasing companies, foreign bank branches, organization microfinance institutions may use foreign exchange services supplied by credit institutions permitted to conduct foreign exchange activities in accordance with the relevant laws applicable to enterprises. organization credit institutions permitted to conduct foreign exchange activities.
5.[3] The indirect foreign investment activities of credit institutions and foreign bank branches shall be carried out in accordance with the laws on indirect foreign investment.
Article 2. Applicability
1. Commercial banks.
2. Cooperative banks.
3. Policy banks.
4. Comprehensive finance companies, factoring finance companies, consumer finance companies, leasing companies.
5. Foreign bank branches.
Article 3. Explanation of Terms
In this Circular, the following terms are understood as follows:
1. Permitted credit institutions are commercial banks, cooperative banks, policy banks, comprehensive finance companies, factoring finance companies, consumer finance companies, leasing companies, and foreign bank branches that are allowed to engage in foreign exchange business and service provision.
2.[4] The foreign exchange activities of permitted credit institutions are foreign exchange transactions and foreign exchange service provision by permitted credit institutions with residents and non-residents in current transactions, capital transactions, and other transactions related to foreign exchange including basic foreign exchange activities in the domestic market, basic foreign exchange activities in the international market, and other foreign exchange activities in both domestic and international markets.
3. Foreign exchange business is the activity of permitted credit institutions conducting foreign exchange activities aimed at profit-making, risk management, and ensuring safety and liquidity for their own operations. organization 4. Provision of foreign exchange services is the activity of permitted credit institutions supplying services related to foreign exchange activities to meet customer needs.
4. Providing foreign exchange services means that authorized credit institutions supply foreign exchange-related services to meet customer needs.
5.[5] (Repealed)
Article 4. Principles of foreign exchange operations[6]
1. For basic foreign exchange activities:
a) After being approved by the State Bank of Vietnam (hereinafter referred to as the State Bank) in the form of issuing new/renewing the License for Establishment and Operation or issuing a Decision to amend and supplement the License containing the content of operating and providing foreign exchange services in the domestic market and/or international market within the scope prescribed by the State Bank or the content of operating and providing customers both domestically and internationally with services and products related to foreign exchange within the scope prescribed by the State Bank, commercial banks, cooperative banks, comprehensive financial companies, factoring financial companies, consumer finance companies, financial leasing companies, and branches of foreign banks may carry out all basic foreign exchange activities in the domestic market and/or international market within the scope prescribed in this Circular;
b) For derivative activities related to foreign exchange and other foreign exchange activities not covered by the activities specified in point a of Clause 1 and Clause 2 of this Article:
(i) Commercial banks and branches of foreign banks that are permitted may carry out derivative activities related to foreign exchange without having to go through additional approval procedures for foreign exchange activities when the State Bank issues guidance documents and such commercial banks and branches of foreign banks have been allowed by the State Bank to conduct derivative activities in Vietnamese dong;
(ii) Commercial banks and branches of foreign banks that are permitted may carry out other foreign exchange activities without having to go through additional approval procedures for foreign exchange activities when the State Bank issues guidance documents for such foreign exchange activities;
c) Policy banks may carry out basic foreign exchange activities in the domestic market and international market according to the provisions of this Circular.
2. For other foreign exchange activities:
a) After being approved in writing by the State Bank to operate specific products or groups of products on a time-limited basis (referred to as a time-limited approval document), credit institutions that are permitted may carry out other foreign exchange activities in the domestic market and international market;
b) When the time limit for carrying out foreign exchange activities specified in the time-limited approval document expires, credit institutions that are permitted may continue to carry out other foreign exchange activities in the domestic market and international market after being reviewed and extended by the State Bank in an extension document of the time-limited approval document. The extension period shall not exceed the time limit for conducting foreign exchange activities specified in the time-limited approval document.
3. During the process of carrying out foreign exchange activities in the international market, credit institutions that are permitted must regularly review, monitor, and evaluate foreign partners to make appropriate adjustments to ensure the safety of their operations.
4. When implementing foreign exchange activities, credit institutions that are permitted must ensure compliance with the provisions of this Circular and other relevant laws for each foreign exchange activity. Specialized policy banks must also ensure compliance with government regulations, Prime Minister's directives, and related legal provisions.
Article 4a. Authority to Approve Foreign Exchange Activities[7]
1. The Governor of the State Bank has the authority to approve and extend approval for foreign exchange activities for the following entities:
a) Commercial banks, cooperative banks, policy banks, comprehensive financial companies, factoring companies, consumer credit financial companies, financial leasing companies;
b) Branches of foreign banks that are under micro-prudential supervision by the Department of Management and Supervision of Credit Institutions."
2. The Director of the State Bank Branch Region has the authority to approve and extend foreign exchange activities for foreign bank branches located in provinces and cities, except for foreign bank branches specified in point b, Clause 1 of this Article.
Chapter II. PROVISIONS ON THE SCOPE, CONDITIONS, PROCEDURES, AND FORMALITIES FOR ISSUING APPROVAL DOCUMENTS FOR FOREIGN EXCHANGE ACTIVITIES
Section 1. COMMERCIAL BANKS
Article 5. Scope of basic foreign exchange activities on the domestic market of commercial banks
1. Conduct spot foreign currency transactions.
2.[8] Conduct forward foreign currency transactions, foreign currency swap transactions, foreign currency call and put option transactions.
3. Accept foreign currency deposits and lend in foreign currencies to non-bank customers. organization credit.
4. Foreign currency documentary collection and guarantee.
5. Issue and act as agent for issuing international bank cards, payment cards, and international bank card payment services.
6. Provide foreign currency transfer and payment services within Vietnam; Services for receiving and paying out foreign currencies.
7. Purchase, sell, discount, and rediscount negotiable instruments and other securities denominated in foreign currencies.
8. Delegate to other credit institutions, branches of foreign banks, or economic organizations to act as agents for providing certain foreign exchange services, including foreign currency exchange services, services for receiving and paying out foreign currencies.
9. Provide foreign currency asset management and safekeeping services; Accept mandates to lend in foreign currencies.
10. Act as agent for issuing securities denominated in foreign currencies.
11. Provide advisory services to customers regarding foreign exchange.
12. Open foreign currency settlement accounts at other commercial banks and branches of foreign banks permitted to conduct foreign exchange operations.
13. Borrow and lend in foreign currencies with other permitted credit institutions and domestic financial organizations.
14. Deposit and accept foreign currency deposits with other permitted credit institutions.
15.[9] Open foreign currency settlement accounts for foreign credit institutions.
16.[10] Accept foreign currency deposits from foreign credit institutions.
17.[11] Conduct interest rate derivative transactions and other foreign exchange-related derivative transactions on the domestic market in accordance with the principle stipulated in point b(i) Clause 1 Article 4 of this Circular.
18.[12] Conduct other foreign exchange activities on the domestic market outside those specified in Clauses 1 through 17 of this Article in accordance with the principle stipulated in point b(ii) Clause 1 Article 4 of this Circular.
Article 6. Scope of basic foreign exchange activities on the international market of commercial banks[13]
1. International payments and transfers.
2. Purchase and sale of spot foreign currencies on the international market.
3. Conduct forward foreign currency transactions, foreign currency swap transactions with foreign financial organizations for the purpose of hedging against risks associated with forward foreign currency contracts and foreign currency swap transactions already concluded and implemented with domestic customers.
4. International documentary collection and foreign currency guarantee.
5. Lend abroad to non-bank customers.
6. Deposit foreign currencies overseas (including term deposits and non-term deposits).
7. Conduct interest rate derivative transactions and other foreign exchange-related derivative transactions on the international market in accordance with the principle stipulated in point b(i) Clause 1 Article 4 of this Circular.
8. Conduct other foreign exchange activities on the international market outside those specified in Clauses 1 through 7 of this Article in accordance with the principle stipulated in point b(ii) Clause 1 Article 4 of this Circular.
Article 7. Other foreign exchange activities on the domestic market and international market[14]
1. The State Bank shall examine and permit commercial banks to temporarily conduct other foreign exchange activities on the domestic market and international market for specific products or product groups, including other foreign exchange activities on the domestic market and international market outside those specified in Article 5, Article 6 of this Circular.
2. After the expiry of the permitted period for conducting other foreign exchange activities on domestic and international markets as stipulated in the approved document with a time limit, if there is a need to continue such activities, based on meeting the conditions and documents specified in Clause 2 of Article 10 and Clause 5 of Article 11 of this Circular and related regulations of the State Bank, commercial banks may be considered and permitted by the State Bank to conduct these foreign exchange activities in an extension document of the approved document with a time limit.
Article 8. Conditions for Approval of Basic Foreign Exchange Activities on Domestic Markets[15]
The conditions for commercial banks to be considered and approved to conduct basic foreign exchange activities on domestic markets include:
1. Having an information technology system that ensures compliance with requirements for management, risk management, safety, and security for foreign exchange activities, including: machinery and equipment serving foreign exchange activities, data storage devices; disaster recovery plans; software supporting the implementation of foreign exchange-related transactions.
2. Internal regulations on risk management related to proposed foreign exchange activities.
Article 9. Conditions for Approval of Basic Foreign Exchange Activities on International Markets[16]
The conditions for commercial banks to be considered and approved to conduct basic foreign exchange activities on international markets include:
1. Meeting the conditions stipulated in Article 8 of this Circular.
2. Internal regulations on standards for selecting partner organizations and determining transaction limits for foreign partners; among which foreign partners that credit institutions are allowed to have deposit transactions (non-settlement deposits) must be foreign financial organizations with credit ratings from Baa3/P-3 according to Moody's Investors Service assessment or from BBB-/A-3 according to Standard & Poor's assessment or from BBB-/F3 according to Fitch Ratings assessment.
3. The condition stipulated in Clause 2 of this Article does not apply to cases where commercial banks deposit money (non-settlement deposits) at branches or subsidiaries of those banks abroad.
The total balance of deposits of commercial banks at all branches and subsidiaries of those banks abroad shall not exceed 10% of the charter capital of the commercial bank.
Article 10. Conditions for Approval of Other Foreign Exchange Activities on Domestic and International Markets[17]
1. In each period, based on the objectives of monetary policy and foreign exchange management policy, commercial banks may be considered and permitted to conduct other foreign exchange activities on domestic and international markets for a limited time when they meet the following conditions:
a) Having internal regulations regarding business procedures with risk management measures for each proposed foreign exchange activity;
b) Having internal regulations regarding partner selection criteria and transaction limits suitable for each foreign partner;
c) Adhering to legal provisions on safety ratios in banking operations in the year immediately preceding the submission of the application and at the time of application submission;
d) Not being administratively penalized for foreign exchange activities in the year immediately preceding the submission of the application and at the time of application submission;
đ) Banking business operations being profitable in the year immediately preceding the submission of the application according to audited financial reports."
2. Conditions for commercial banks to be considered and permitted to extend the implementation of other foreign exchange activities on domestic and international markets include:
a) Not being administratively penalized for foreign exchange activities during the implementation of time-limited foreign exchange activities;
b) Adhering to legal provisions on safety ratios in banking operations in the year immediately preceding the extension request and at the time of extension application submission;
c) Banking business operations profitable in the year immediately preceding the year of application for extension according to audited financial reports.
Article 11. Documents for Application for Approval of Foreign Exchange Activities[18]
1. Principles for preparing, submitting, receiving and returning results of documents for requesting approval of foreign exchange activities:
a) Application documents for approval of foreign exchange activities submitted directly at the One-Stop Service Center of the State Bank or sent through postal services to the State Bank or submitted online through the National Public Service Portal;
b) The deadline for checking the completeness and accuracy of the documents is three working days from the date the State Bank's Information System for Administrative Procedures receives the documents via the online method or from the date the One-Stop Service Center of the State Bank receives the documents via the direct submission method or through postal services;
c) In the case of submitting the dossier online through the National Public Service Portal, the electronic dossier must use digital signatures in accordance with the laws on administrative procedures in the electronic environment;
In cases where administrative procedures are not provided online on the National Public Service Portal or the National Public Service Portal encounters technical issues preventing electronic information exchange, the submission of documents, receipt, issuance of results, and communication of information shall be conducted through postal services or directly at the One-Stop Service Center of the State Bank;
d) Documents in the electronic dossier are electronic texts, scanned copies of original documents, or originals (PDF format files);
d) Documents in paper form in the application file must be original copies signed by the authorized representative of the commercial bank, except for audited financial reports which are original copies, original copies, certified copies, or copies confirmed by the authorized representative of the commercial bank regarding the accuracy of the copy compared to the original;
e) Application documents for approval of foreign exchange activities must be prepared in Vietnamese. If the original documents are in a foreign language, they must be translated into Vietnamese and the translator's signature must be certified according to Vietnamese laws on certification, except for contracts, agreements, or documents issued by the commercial bank, which the commercial bank can translate and confirm its responsibility for the accuracy of the translation.
2. Basic documents for requesting approval of foreign exchange activities on the domestic market include:
a) Application form according to Annex 1 issued together with this Circular;
b) Internal regulations on risk management related to foreign exchange activities, including at least the following contents: identification of types of risks, risk management plans;
c) Report describing the information technology system, technical solutions applied, and processing procedures for foreign exchange activities within the information technology system as specified in Annex 3 issued together with 3. For discounting transferable instruments and other securities:
3. Basic documents for requesting approval of foreign exchange activities on the international market include:
a) Documents as prescribed in Clause 2 of this Article;
b) Internal regulations on standards for selecting partner organizations, transaction limits for partners, including provisions for periodic review and reassessment of partners when events significantly affect their credit ratings.
4. Basic documents for requesting approval to implement other foreign exchange activities on the domestic and international markets for a limited time include:
a) Application form according to Annex 1 issued together with this Circular, specifying clearly the products or product groups proposed to be implemented and the implementation period;
b) Report on compliance with legal regulations on safety ratios in banking operations in the year immediately preceding the year of application for permission to implement for a limited time and up to the date of application for permission to implement for a limited time;
c) Internal regulations on operational procedures with appropriate risk management measures for each proposed foreign exchange activity, including minimum risk management measures such as identifying types of risks and managing these risks;
d) Internal regulations on standards for selecting partner organizations, transaction limits for partners, including provisions for periodic review and reassessment of partners when events significantly affect their credit ratings;
d) Report on the foreign exchange operations situation within the domestic market for the year immediately preceding the year of submitting the application for permission and up to the time of submitting the application for approval to conduct time-limited activities, including a commitment not to be subject to administrative penalties for foreign exchange operations;
e) Audited financial report of the year immediately preceding the application for permission to implement for a limited time."
5. Documents for requesting approval to extend the implementation of other foreign exchange activities on the domestic market and international market:
a) Application form according to Annex 1 issued together with This Circular, explaining the necessity for extension and committing not to be subject to administrative penalties for foreign exchange operations during the implementation of time-limited foreign exchange activities;
b) A report evaluating the results of the time-limited foreign exchange activities already implemented;
c) An audited financial report of the year immediately preceding the year of the extension request;
d) Report on compliance with legal provisions regarding safety ratios in banking operations for the year immediately preceding the year of submitting the application for extension and up to the time of submitting the application for extension;
Article 12. Procedures and formalities for approving and extending foreign exchange operations[19]
1. When there is a need to implement foreign exchange activities on the domestic market and international market, commercial banks shall prepare one set of documents to submit to the State Bank in accordance with this Circular.
In case the documents are incomplete, within ten working days from the date of receipt of the documents, the State Bank shall issue a written request for the commercial bank to supplement the documents in accordance with this Circular.
2. Within thirty days from the date of receiving complete and valid documents in accordance with this Circular, the State Bank shall examine:
a) Approval of basic foreign exchange operations on the domestic and international markets for commercial banks in the form of issuing/reissuing the License for Establishment and Operation or Decision to Amend and Supplement the License;
b) Approving other foreign exchange activities on the domestic market and international market for commercial banks.
The approval document of the State Bank for commercial banks to carry out other foreign exchange activities on the domestic and international markets shall include the following main contents: name of business, product, group of products to be carried out; duration of implementation; limitations and conditions to ensure safety (if any). The approval document for other foreign exchange activities for commercial banks follows the model at Appendix 4 issued together with this Circular this Circular;
c) In case of refusal, the State Bank shall notify in writing the refusal and specify the reasons.
3. Procedures and formalities for approving the extension of other foreign exchange activities on the domestic and international markets for commercial banks to implement as stipulated in Clause 1, 2 of this Article.
Section 2. FOREIGN BANK BRANCHES
Article 13. Scope of Basic Foreign Exchange Operations on the Domestic Market1. Fulfilling requirements stipulated in Article 13 of Decree No. 135/2021/NĐ-CP.domestic
A foreign bank branch may carry out basic foreign exchange operations on the domestic market within the scope prescribed in Article 5 of this Circular.
Article 14. Scope of Basic Foreign Exchange Operations on the International Market[20]
1. International payments and transfers to serve customers in Vietnam.
2. Purchase and sale of spot foreign currencies on the international market.
3. Conduct forward foreign currency transactions, foreign currency swap transactions with foreign financial organizations for the purpose of hedging against risks associated with forward foreign currency contracts and foreign currency swap transactions already concluded and implemented with domestic customers.
4. International factoring and foreign currency guarantees to serve customers in Vietnam.
5. Depositing foreign currency abroad (including term deposits and non-term deposits).
6. Conducting interest rate derivative transactions and other foreign exchange-related derivative transactions on the international market in accordance with the principles prescribed in point b(i) Clause 1 Article 4 of this Circular, without the need to submit an application for supplementary approval of foreign exchange activities.
7. Carrying out other foreign exchange activities on the international market outside those specified from Clause 1 to Clause 6 of this Article in accordance with the principles prescribed in point b(ii) Clause 1 Article 4 of this Circular, without the need to submit an application for supplementary approval of foreign exchange activities.
Article 15. Other Foreign Exchange Activities on the Domestic and International Markets[21]
1. In addition to the foreign exchange activities prescribed in Article 13, Article 14 of this Circular, the State Bank will consider and approve foreign bank branches to carry out other foreign exchange activities for specific products or groups of products on a time-limited basis, including:
a) Other foreign exchange activities on the domestic market;
b) Other foreign exchange activities on the international market to serve customers in Vietnam.
2. After the expiry of the permitted period for conducting other foreign exchange activities on domestic and international markets as stipulated in the approved document with a time limit, if there is a need to continue such activities, based on meeting the conditions and documents specified in Article 18, Article 20 of this Circular and related regulations of the State Bank, foreign bank branches will be approved by the State Bank to carry out these foreign exchange activities in the extension document of the time-limited approval document.
Article 16. Conditions for Approval of Basic Foreign Exchange Activities in the Domestic Market[22]
A foreign bank branch that meets the conditions prescribed for commercial banks under Article 8 of this Circular shall be considered and approved by the State Bank to conduct basic foreign exchange activities in the domestic market.
Article 17. Conditions for Approval of Basic Foreign Exchange Activities in the International Market[23]
A foreign bank branch that meets the conditions prescribed for commercial banks under Article 9 of this Circular shall be considered and approved by the State Bank to conduct basic foreign exchange activities in the international market.
Article 18. Conditions for Approval of Other Foreign Exchange Activities in the Domestic and International Markets[24]
A foreign bank branch that meets the conditions prescribed for commercial banks under Article 10 of this Circular shall be considered and permitted by the State Bank to carry out other foreign exchange activities in the domestic and international markets.
Article 19. Documents, Procedures, and Formalities for Requesting Approval of Basic Foreign Exchange Activities in the Domestic and International Markets[25]
A foreign bank branch wishing to conduct basic foreign exchange activities in the domestic market or in the international market shall prepare one set of documents and submit them through postal service or directly to the One-Stop Service Unit of the State Bank or the One-Stop Service Unit of the State Bank's Branch in the Region as prescribed inArticle 4a of this Circular or submit online through the National Public Service Portal. The documents, procedures, and formalities for requesting approval of basic foreign exchange activities in the domestic and international markets shall be carried out in accordance with the provisions for commercial banks as stipulated in Clause 1, 2, 3 of Article 11 and Article 12 of this Circular.
Article 20. Documents, Procedures, and Formalities for Requesting Approval of Other Foreign Exchange Activities in the Domestic and International Markets[26]
A foreign bank branch wishing to conduct other foreign exchange activities in the domestic market or in the international market shall prepare one set of documents and submit them through postal service or directly to the One-Stop Service Unit of the State Bank or the One-Stop Service Unit of the State Bank's Branch in the Region as prescribed inArticle 4a of this Circular or submit online through the National Public Service Portal. The documents, procedures, and formalities for requesting approval and extension of approval for other foreign exchange activities in the domestic and international markets shall be carried out in accordance with the provisions for commercial banks as stipulated in Clause 1, 4, 5 of Article 11 and Article 12 of this Circular.
Section 3. COMPREHENSIVE FINANCIAL COMPANIES, FACTORING COMPANIES, CONSUMER CREDIT COMPANIES, AND LEASING COMPANIES
Article 21. Scope of Foreign Exchange Activities of Comprehensive Financial Companies[27]
1. Scope of Basic Foreign Exchange Activities in the Domestic Market:
a) Conducting spot foreign currency transactions;
b) Conducting foreign currency forward transactions, foreign currency swap transactions, and foreign currency option purchase and sale transactions;
c) Accepting foreign currency deposits from non-bank organizations; lending in foreign currencies to non-bank customers;
d) Factoring and guaranteeing foreign currency payments;
đ) Issuing international credit cards;
e) Discounting and rediscounting transferable instruments and securities denominated in foreign currencies;
g) Services for receiving and paying foreign currencies; entrusting economic organizations to act as agents for foreign currency exchange and payment services;
h) Providing management and safekeeping services for foreign currency assets; accepting mandates to lend in foreign currencies;
i) Acting as agents for issuing securities denominated in foreign currencies;
k) Providing advisory services to customers on foreign exchange matters;
l) Opening foreign currency settlement accounts at commercial banks and foreign bank branches authorized to conduct foreign exchange activities;
m) Borrowing and lending in foreign currencies to authorized financial institutions and domestic financial organizations;
n) Depositing and accepting foreign currency deposits with other authorized financial institutions;
o) Accepting foreign currency deposits from foreign financial institutions;
p) Leasing in foreign currencies.
2. Scope of Basic Foreign Exchange Activities in the International Market:
a) Buying and selling spot foreign currencies in the international market;
b) Conducting foreign currency forward transactions and foreign currency swap transactions with foreign financial organizations for the purpose of hedging against risks associated with foreign currency forward contracts and swap transactions already concluded and implemented with domestic customers;
c) Lending abroad to non-bank customers;
d) Opening foreign currency accounts at overseas banks for the purpose of issuing credit cards;
đ) International factoring and guaranteeing foreign currency payments.
3. For other foreign exchange activities in the domestic and international markets:
a) The State Bank will consider and permit comprehensive financial companies to carry out such activities for a specific period for each product or group of products, including other foreign exchange activities in the domestic and international markets outside those specified in Clause 1 and 2 of this Article, based on meeting the conditions and submitting the required documents as stipulated in Clause 1 of Article 26, Clause 3 of Article 27 of this Circular;
b) After the expiration of the permitted period for carrying out other foreign exchange activities in the domestic and international markets as stated in the time-limited approval document, if there is a need to continue such activities, based on meeting the conditions and submitting the required documents as stipulated in Clause 2 of Article 26, Clause 4 of Article 27 of this Circular and related regulations of the State Bank, the comprehensive financial company may be considered and permitted by the State Bank to extend the time-limited approval document.
Article 22. Scope of foreign exchange activities of factoring financial companies[28]
1. Scope of Basic Foreign Exchange Activities in the Domestic Market:
a) Accepting foreign currency deposits from customers that are organizations other than credit institutions;
b) Depositing funds and accepting foreign currency deposits with permitted credit institutions;
c) Borrowing foreign currency funds from permitted credit institutions and domestic financial organizations;
d) Discounting and rediscounting transferable instruments and securities denominated in foreign currencies;
đ) Factoring in foreign currencies;
e) Providing management and safekeeping services for assets denominated in foreign currencies;
g) Providing foreign exchange advisory services to customers;
h) Opening foreign currency settlement accounts at commercial banks and branches of foreign banks permitted to conduct foreign exchange operations.
2. Basic scope of foreign exchange activities on the international market: International factoring.
Article 22a. Scope of foreign exchange activities of consumer finance financial companies[29]
1. Scope of Basic Foreign Exchange Activities in the Domestic Market:
a) Accepting foreign currency deposits from customers that are organizations other than credit institutions;
b) Depositing funds and accepting foreign currency deposits with permitted credit institutions;
c) Borrowing foreign currency funds from permitted credit institutions and domestic financial organizations;
d) Discounting and rediscounting transferable instruments and securities denominated in foreign currencies;
đ) Issuing international credit cards;
e) Providing management and safekeeping services for assets denominated in foreign currencies;
g) Providing foreign exchange advisory services to customers;
h) Opening foreign currency settlement accounts at commercial banks and branches of foreign banks permitted to conduct foreign exchange operations.
2. Basic scope of foreign exchange activities on the international market: Opening foreign currency settlement accounts at foreign banks to carry out credit card issuance activities.
Article 23. Basic scope of foreign exchange activities on the domestic market of leasing financial companies[30]
1. Accepting foreign currency deposits from customers that are organizations other than credit institutions.
2. Depositing funds and accepting foreign currency deposits with permitted credit institutions.
3. Borrowing foreign currency funds from permitted credit institutions and domestic financial organizations.
4. Leasing in foreign currencies.
5. Supplementing working capital loans in foreign currencies for lessees.
6. Accepting mandates for foreign currency leasing.
7. Providing management and safekeeping services for assets denominated in foreign currencies.
8. Providing advisory services to customers regarding foreign exchange.
9. Purchasing and reselling under foreign currency leasing arrangements.
10. Opening foreign currency settlement accounts at commercial banks and branches of foreign banks permitted to conduct foreign exchange operations.
Article 24. Conditions for approval of basic foreign exchange activities on the domestic market of comprehensive financial companies, factoring financial companies, consumer finance financial companies, and leasing financial companies[31]
1. Comprehensive financial companies must meet the conditions applicable to commercial banks as stipulated in Article 8 of this Circular Clause 1, Article 21 of this Circular, which shall be reviewed and approved by the State Bank for basic foreign exchange activities on the domestic market as provided for in Clause 1, Article 21 of this Circular.
2. Factoring financial companies must meet the conditions applicable to commercial banks as stipulated in Article 8 of this Circular Clause 1, Article 21 of this Circular, which shall be reviewed and approved by the State Bank for basic foreign exchange activities on the domestic market as provided for in Clause 1, Article 22 of this Circular.
3. Consumer finance financial companies must meet the conditions applicable to commercial banks as stipulated in Article 8 of this Circular Clause 1, Article 21 of this Circular, which shall be reviewed and approved by the State Bank for basic foreign exchange activities on the domestic market as provided for in Clause 1, Article 22a of this Circular.
4. Leasing financial companies must meet the conditions applicable to commercial banks as stipulated in Article 8 of this Circular Clause 1, Article 21 of this Circular, which shall be reviewed and approved by the State Bank for basic foreign exchange activities on the domestic market as provided for in Article 23 of this Circular.
Article 25. Conditions for approval of basic foreign exchange activities on the international market of comprehensive financial companies, factoring financial companies, and consumer finance financial companies[32]
1. Meeting the conditions stipulated in Article 9 of this Circular;
2. The company's business operations must have been profitable for 01 (one) consecutive year prior to the submission of the application for approval of foreign exchange activities according to the audited financial statements.
Article 26. Conditions for approval of other foreign exchange activities on the domestic market and international market of comprehensive financial companies[33]
1. In each period, based on the objectives of monetary policy and foreign exchange management policy, comprehensive financial companies may be considered and allowed to temporarily carry out other foreign exchange activities on the domestic market and international market when meeting the following conditions:
a) Meeting the conditions applicable to commercial banks as stipulated inPoint b, c, d and đ Clause 1, Article 10 of this Circular;
b) The business operations of the integrated financial company must have been profitable in the two consecutive years prior to the year of submitting the application for permission according to the audited financial report.
2. Conditions for integrated financial companies to be considered and permitted to extend the implementation of other foreign exchange activities on the domestic and international markets include:
a) Meeting the conditions applicable to commercial banks as stipulated inPoint b, c Clause 2, Article 10 of this Circular;
b) The company's business operations must have been profitable for 02 (two) consecutive years prior to the request for extension according to the audited financial statements.
Article 27. Documents for Requesting Approval of Foreign Exchange Activities[34]
1. The basic documents for requesting approval of foreign exchange activities on the domestic market by consolidated financial companies, factoring financial companies, consumer credit financial companies shall be implemented in accordance with Clause 1 and 2, Article 11 of this Circular. Clause 1, 2 Article 11 of this Circular.
2. The basic documents for requesting approval of foreign exchange activities on the international market by consolidated financial companies, factoring financial companies, consumer credit financial companies include:
a) The components of the documents as prescribed in Clause 3, Article 11 of this Circular Clause 3 Article 11 of this Circular;
b) A copy of the audited financial report for the most recent year preceding the year of the request for approval of foreign exchange activities.
3. The documents for requesting permission to temporarily carry out other foreign exchange activities on both the domestic and international markets by consolidated financial companies include:
a) The components of the documents as stipulated in Points a, b, c, d, đ of Clause 4, Article 11 of this Circular Points a, b, c, d, đ Clause 4 Article 11 of this Circular;
b) A copy of the audited financial reports for the two consecutive years preceding the year of the request for temporary approval.
4. The documents for requesting extension of permission to carry out other foreign exchange activities on both the domestic and international markets by consolidated financial companies include:
a) The components of the documents as stipulated in Points a, b, c, d, đ of Clause 4, Article 11 of this Circular a, b, d of Clause 5, Article 11 of this Circular;
b) A copy of the audited financial report for two consecutive years preceding the year of application for extension.
Article 28. Procedures and Formalities
The procedures and formalities for consolidated financial companies, factoring financial companies, consumer credit financial companies to be considered for permission to carry out foreign exchange activities on the domestic market and national economic activities shall be carried out in accordance with the provisions applicable to commercial banks as stipulated at Article 12. This Circular.
Section 4. POLICY BANKS AND COOPERATIVE BANKS
Article 29. Foreign Exchange Activities of the Vietnam Policy Bank[35]
1. The Social Policy Bank is allowed to conduct basic foreign exchange activities on the domestic market without seeking approval from the State Bank of Vietnam, including:
a) Conducting spot foreign currency transactions;
b) Conducting forward foreign currency transactions, foreign currency swap transactions, and foreign currency option purchase and sale transactions;
c) Accepting foreign currency deposits and lending in foreign currencies to customers who are not credit institutions;
d) Providing foreign currency transfer and payment services within Vietnam; Services for receiving and paying out foreign currencies;
đ) Purchasing, selling, discounting, and rediscounting negotiable instruments and other securities denominated in foreign currencies;
e) Providing foreign currency asset management and safekeeping services; Accepting mandates to lend in foreign currencies;
g) Providing foreign exchange advisory services to customers;
h) Opening foreign currency settlement accounts at other commercial banks and foreign bank branches authorized to conduct foreign exchange activities;
i) Borrowing and lending in foreign currencies with other authorized credit institutions;
k) Depositing and accepting foreign currency deposits with other authorized credit institutions.
2. The Social Policy Bank is allowed to conduct basic foreign exchange activities on the international market without seeking approval from the State Bank of Vietnam, including:
a) International payments and transfers;
b) Buying and selling spot foreign currencies on the international market;
c) Conducting forward foreign currency transactions and foreign currency swap transactions with foreign financial organizations for the purpose of mitigating risks associated with foreign currency purchase and sale contracts and foreign currency swap transactions concluded and executed with domestic customers.
Article 29a. Foreign Exchange Activities of the Vietnam Development Bank[36]
1. The Vietnam Development Bank shall carry out the following basic foreign exchange activities on the domestic market:
a) Conducting spot foreign currency transactions;
b) Conducting forward foreign currency transactions, foreign currency swap transactions, and foreign currency option purchase and sale transactions;
c) Accepting foreign currency deposits and lending in foreign currencies to customers who are not credit institutions;
d) Collection and guarantee with foreign currency;
đ) Provision of money transfer and payment services in foreign currency within the territory of Vietnam;
e) Purchase, sale, discounting, and rediscounting of negotiable instruments and other securities denominated in foreign currency;
g) Acceptance of mandates for lending in foreign currency;
h) Supplying advisory services to customers regarding foreign exchange;
i) Opening foreign currency settlement accounts at commercial banks and branches of foreign banks permitted to conduct foreign exchange activities;
k) Borrowing and lending in foreign currency with other credit institutions permitted to do so;
l) Depositing and accepting deposits in foreign currency with other credit institutions permitted to do so;
m) Opening settlement accounts for foreign credit institutions;
n) Accepting deposits in foreign currency from foreign credit institutions.
2. The Vietnam Development Bank shall carry out the following basic foreign exchange activities on the international market:
a) International payments and transfers;
b) Buying and selling spot foreign currencies on the international market;
c) Conducting forward foreign currency transactions and foreign currency swap transactions with foreign financial organizations for the purpose of mitigating risks associated with foreign currency purchase and sale contracts and foreign currency swap transactions concluded and executed with domestic customers;
d) International collection and guarantee with foreign currency;
đ) Lending abroad to non-bank clients;
e) Depositing foreign currencies abroad (including fixed-term deposits and non-fixed-term deposits).
Article 30. Foreign Exchange Activities of Cooperative Banks[37]
1. Basic foreign exchange activities on the domestic market of cooperative banks:
a) Conducting spot foreign currency transactions;
b) Conducting foreign currency forward transactions, foreign currency swap transactions, and foreign currency option purchase and sale transactions;
c) Accepting foreign currency deposits and lending in foreign currencies to customers who are not credit institutions;
d) Providing foreign currency transfer and payment services within Vietnam; Services for receiving and paying out foreign currencies;
đ) Purchasing, selling, discounting, and rediscounting negotiable instruments and other securities denominated in foreign currencies;
e) Providing foreign currency asset management and safekeeping services; Accepting mandates to lend in foreign currencies;
g) Providing foreign exchange advisory services to customers;
h) Opening foreign currency settlement accounts at other commercial banks and foreign bank branches authorized to conduct foreign exchange activities;
i) Borrowing and lending in foreign currencies with other permitted credit institutions and domestic financial organizations;
k) Depositing and accepting foreign currency deposits with other authorized credit institutions.
2. Basic foreign exchange activities on the international market:
a) International payments and transfers;
b) Buying and selling spot foreign currencies on the international market;
c) Conducting forward foreign currency transactions and foreign currency swap transactions with foreign financial organizations for the purpose of mitigating risks associated with foreign currency purchase and sale contracts and foreign currency swap transactions concluded and executed with domestic customers.
3. Conditions, documents, procedures for examining and approving basic foreign exchange operations on both domestic and international markets shall be conducted in accordance with the provisions applicable to commercial banks as stipulated at 3. Conditions, documents, procedures, and formalities for considering approval of basic foreign exchange activities on the domestic and international markets shall be carried out in accordance with commercial banks as prescribed in, Clause 1, 2, 3 of Article 11 and Article 12 of this Circular.
Chapter III[38]
Chapter IV. RESPONSIBILITIES OF ORGANIZATIONS RELATED TO FOREIGN EXCHANGE ACTIVITIES OF CREDIT INSTITUTIONS AND BRANCHES OF FOREIGN BANKS
Article 35. Responsibilities of Licensed Credit Institutions
1. When conducting foreign exchange activities, licensed credit institutions must comply strictly with the contents recorded in the License for Establishment and Operation, amendments and supplements to the License, approved documents with a time limit (if any), provisions of this Circular, foreign exchange management regulations, and other relevant legal provisions. Decree amendments and supplements to the License, approved documents with validity periods (if any), provisions of this Circular, foreign exchange management regulations, and other relevant legal provisions.
2. Adhere to regulations on ensuring safety in banking operations as prescribed by the State Bank of Vietnam.
3.[39] Establish and bear responsibility for the content of internal regulations on business procedures and risk management processes for foreign exchange activities; Only conduct foreign exchange activities after establishing internal regulations on business procedures; Conduct foreign exchange activities in accordance with the established internal procedures. Transactions must be controlled according to current internal audit and internal control regulations.
4. Announce the buying rate, selling rate of foreign currency, and conduct foreign currency buying and selling transactions in accordance with the State Bank's regulations.
4. Post the buying rate and selling rate of foreign currencies and carry out the purchase and sale of foreign currencies in accordance with the regulations of the State Bank of Vietnam.
6. Guide business practices and periodically inspect the activities of agents entrusted by authorized credit institutions in complying with the provisions of this Circular and related laws.
5. When conducting foreign exchange transactions for customers, licensed credit institutions have the responsibility to examine, check, and retain documents and certificates that are consistent with actual transactions to ensure that foreign exchange services are provided for the intended purpose and in compliance with legal regulations; Provide information about potential risks to customers receiving foreign exchange services.
8. Establish a database system to manage customer information to ensure compliance with statistical reporting requirements of the State Bank and related units when requested.
6. Guide business practices and periodically inspect the activities of agents entrusted by licensed credit institutions to comply with the provisions of this Circular and related legal regulations. for foreign exchange activities in accordance with the statistical reporting system and other reports as prescribed by the State Bank. In case of emergency or necessity, organization 7. Establish regulations on authorization levels within the system to ensure the safety of foreign exchange activities.
10. Ensure continuous compliance with the conditions stipulated in this Circular.
11.[40] 8. Establish a database system to manage customer information to meet the requirements of statistical reports from the State Bank of Vietnam and related units when requested. Clause 3 Article 9 of this Circular9. When conducting foreign exchange activities, licensed credit institutions must report foreign exchange activities in accordance with the reporting and statistical system and other reports as prescribed by the State Bank of Vietnam. In case of emergencies or when necessary,
licensed credit institutions shall submit reports as required by the State Bank of Vietnam.[41]
1. Department of Credit Institution Management and Supervision:
10. Ensure compliance with and maintain the conditions stipulated in this Circular.When implementing deposit activities at branches or subsidiaries of commercial banks abroad as prescribed in Clause 3, Article 9 of this Circular,;
commercial banks shall be responsible for their own business results. Quarterly, no later than the tenth day of the first month of each quarter, commercial banks shall submit reports on deposit balances at branches and subsidiaries abroad to the State Bank of Vietnam (Credit Institution Management and Supervision Department).When implementing deposit activities at branches or subsidiaries of commercial banks abroad as prescribed in Clause 3, Article 9 of this Circular,.
2. Department of Foreign Exchange Management:
Within ten working days from the date of receipt of the document from the Department of Management and Supervision of Credit Institutions, based on its assigned functions and tasks, the Department of Foreign Exchange Management shall have the responsibility to:
a) Provide comments on applications for approval of foreign exchange activities related to the functions and tasks of the Department of Foreign Exchange Management of credit institutions and foreign bank branches;
b) Serve as the focal point for handling issues arising during the implementation of this Circular.
3. Monetary Policy Department:
Within ten working days from the date of receipt of the document from the Department of Management and Supervision of Credit Institutions, based on its assigned functions and tasks, the Monetary Policy Department shall have the responsibility to:
a) Provide comments on reports on compliance with total foreign currency position limits based on foreign currency position reports of credit institutions and foreign bank branches permitted to conduct foreign exchange activities;
b) Provide comments on applications for approval of foreign exchange activities of credit institutions and foreign bank branches related to the functions and tasks of the Monetary Policy Department.
4. Department of Information Technology:
Article 36. Responsibilities of Units under the State Bank of Vietnam
5. Other relevant units under the State Bank of Vietnam:
Credit Institution Management and Supervision Department:
6. Regional Branches of the State Bank of Vietnam:
a) Serve as the focal point for receiving and sending documents seeking opinions from related units under the State Bank of Vietnam, reviewing and submitting to the Governor of the State Bank of Vietnam applications for approval and extension of foreign exchange activities of credit institutions and foreign bank branches as prescribed in Clause 1, Article 4a of this Circular.Clause 2 Article 4a of this Circular;
b) Serve as the focal point for handling issues related to the approval and extension of foreign exchange activities of credit institutions and foreign bank branches as prescribed in Clause 1, Article 4a of this Circular.Clause 2 Article 4a of this Circular.
Chapter V. IMPLEMENTING PROVISIONS[42],[43]
Article 37. Effective Date
Within ten working days from the date of receipt of the document from the Credit Institution Management and Supervision Department, based on assigned functions and tasks, the Information Technology Department shall provide comments on the description of the information technology system, technical solutions applied, and the process of handling foreign exchange activities in the information technology system when credit institutions and foreign bank branches apply for approval of foreign exchange activities. year 2014.
Based on assigned functions and tasks, other related units under the State Bank of Vietnam shall participate in providing comments on issues related to the approval of foreign exchange activities for credit institutions and foreign bank branches upon request of the Credit Institution Management and Supervision Department. for providing foreign exchange services of organization a) Receive and send documents seeking opinions from related units (if necessary), review applications for approval and extension of foreign exchange activities of foreign bank branches as prescribed in Clause 2, Article 4a of this Circular. component implemented during the investment cycle, at the end of each cycle, the Government Decree on simplifying administrative procedures within the jurisdiction of the State Bank of Vietnam ceases to be effective.
Article 38. Responsibility for Implementation Organization[44]
The heads of relevant units under the State Bank of Vietnam, credit organizations, and foreign bank branches shall be responsible for organizing the implementation of this Circular./.
ANNEX 1[45]
(Issued together with Circular No. 21/2014/TT-NHNN dated August 14, 2014 of the Governor of the State Bank of Vietnam)
| NAME OF CREDIT ORGANIZATION, FOREIGN BANK BRANCH | SOCIALIST REPUBLIC OF VIET NAM |
|
| …date... month... year… |
APPLICATION FOR APPROVAL/PERMISSION TO CONDUCT TIME-LIMITED FOREIGN EXCHANGE ACTIVITIES/EXTENSION OF FOREIGN EXCHANGE OPERATIONS
| Respectfully submitted to: | - State Bank of Vietnam |
Pursuant to the Law on the State Bank of Vietnam No. 46/2010/QH12;
Pursuant to the Law on Credit Organizations No. 32/2024/QH15 amended and supplemented by Law No. 96/2025/QH15;
Pursuant to Decree on Foreign Exchange No. 28/2005/PL-UBTVQH11 amended and supplemented by Decree No. 06/2013/UBTVQH13;
Pursuant to Circular No. 21/2014/TT-NHNN of the Governor of the State Bank of Vietnam guiding the scope of foreign exchange activities, conditions, procedures, and formalities for approving foreign exchange activities of credit institutions and foreign bank branches;
Pursuant to Circular No. 75/2025/TT-NHNN of the Governor of the State Bank of Vietnam amending and supplementing certain provisions in legal normative documents in the field of managing foreign exchange service supply and use to implement plans to reduce and simplify administrative procedures;
Name of credit institution, foreign bank branch...
Fax:
Telephone: Fax:
Business Registration Number:...
Organizational identification code (if applicable):
requests the State Bank of Vietnam or the State Bank of Vietnam Branch in Region... to approve/permit to conduct time-limited foreign exchange activities within the following specific scope:
I. Basic foreign exchange activities in domestic and international markets:
1. Basic foreign exchange activities in the domestic market:
1. Supplementing Point 6a following Article 6 of Circular No. 02/2019/TT-BVHTTDL dated July 5, 2019 of the Minister of Culture, Sports and Tourism on the procedures for legal expertise regarding copyright and related rights as follows:
b.
…
2. Basic foreign exchange activities on the international market:
1. Supplementing Point 6a following Article 6 of Circular No. 02/2019/TT-BVHTTDL dated July 5, 2019 of the Minister of Culture, Sports and Tourism on the procedures for legal expertise regarding copyright and related rights as follows:
b.
…
II. Other foreign exchange activities in domestic and international markets:
1.
2.
…
Credit institutions, foreign bank branches hereby commit:
- To bear responsibility under the law for the content, accuracy, and truthfulness of the documents in the application file for foreign exchange activity licensing.
- To ensure compliance with the conditions required to carry out the foreign exchange activities specified in this Application and continue to maintain these conditions in accordance with the regulations of the State Bank of Vietnam and related laws.
- To strictly comply with current foreign exchange management regulations of Vietnam and other relevant legal regulations.
|
| LEGAL REPRESENTATIVE OF THE CREDIT ORGANIZATION, FOREIGN BANK BRANCH |
Note: Please specify the name or number of the document that has approved the time-limited implementation of other foreign exchange activities in the domestic and international markets being requested to extend.
Appendix 2[46] (repealed)
Tel:[47]
(Issued together with Circular No. 21/2014/TT-NHNN dated August 14, 2014 of the Governor of the State Bank of Vietnam)
Content requirements for describing the information technology system
| Serial number | Information Technology Infrastructure | Content Presentation |
| 1 | Business Application Software System | - Transaction execution and transaction accounting system. - Domestic and international payment systems. - Reporting, analysis, and decision support system. - Operational risk control tools for business applications. - Anti-money laundering system. |
| 2 | Server System | - Hardware and software components of the server system. - Quantity, types, and operational mechanisms. |
| 3 | Storage System | - Hardware and software components of the storage system. - Quantity, types. - Backup and periodic recovery testing mechanisms. |
| 4 | Network Infrastructure | - Network connecting branches and transaction offices to the Data Center/Main Office (quantity, type of connection). - Local Area Network (LAN) at the Data Center/Server Room. |
| 5 | Cybersecurity Infrastructure | - Cybersecurity devices such as Firewalls, Intrusion Detection/Prevention Systems (IDS/IPS), etc. - Malware protection solutions. - Encryption and protection solutions for sensitive data when transmitted over networks and stored. - Information and application access management and authorization. - Network security assessment solutions for application systems before providing services. |
| 6 | Data Center/Server Room Infrastructure | - Location and architecture of the Data Center/Server Room. - Power distribution and maintenance system. - Environmental control system for the Data Center/Server Room. - Fire alarm and extinguishing system. - Operation monitoring and surveillance system. |
| 7 | Disaster Recovery System | - Location of the Data Center/Server Room backup. - Backup Information Technology System. - Continuous operation assurance plan. |
| 8 | Other Systems | - Specialized computer systems serving foreign exchange operations and printers, fax machines, photocopiers, telephones, etc. - Monitoring and control system for entry and exit at the foreign exchange operations department (if applicable). |
Appendix 4[48]
(Issued together with Circular No. 21/2014/TT-NHNN dated August 14, 2014 of the Governor of the State Bank of Vietnam)
| STATE BANK OF VIETNAM | SOCIALIST REPUBLIC OF VIET NAM |
| No.: /QĐ-NHNN | ..., date... month... year... |
Pursuant to …;
Regarding Approval of Time-Limited Foreign Exchange Activities
GOVERNOR OF THE STATE BANK OF VIETNAM/
DIRECTOR OF THE STATE BANK OF VIETNAM BRANCH IN REGION...
Pursuant to the Law on the State Bank of Vietnam No. 46/2010/QH12;
Pursuant to the Law on Credit Organizations No. 32/2024/QH15 amended and supplemented by Law No. 96/2025/QH15;
Pursuant to Decree on Foreign Exchange No. 28/2005/PL-UBTVQH11 amended and supplemented by Decree No. 06/2013/UBTVQH13;
Pursuant to Circular No. 21/2014/TT-NHNN of the Governor of the State Bank of Vietnam guiding the scope of foreign exchange activities, conditions, procedures, and formalities for approving foreign exchange activities of credit institutions and foreign bank branches;
Pursuant to Circular No. 75/2025/TT-NHNN of the Governor of the State Bank of Vietnam amending and supplementing certain provisions in legal normative documents in the field of managing foreign exchange service supply and use to implement plans to reduce and simplify administrative procedures;
Pursuant to Decision No. .... (In case the Director of the State Bank of Vietnam Branch in Region... signs the Decision)
Considering the request of (credit institution, foreign bank branch)... in the Application for Approval of Time-Limited Foreign Exchange Activities No... dated... month... year...;
At the proposal of the Director of the Credit Institution Management and Supervision Department (in case the Governor signs the Decision),
Pursuant to …;
Article 1
Approves (credit institution, foreign bank branch)...
Fax:
Telephone: Fax:
Business Registration Number:...
Organizational identification code (if applicable):
License No... issued on.../.../...
to conduct foreign exchange activities with the following content:
1. Name of business, product, group of products.
2. Duration of implementation.
3. Restrictions and safety guarantees (if any).
4. Other contents.
Article 2. During the implementation of foreign exchange activities, (credit institution, foreign bank branch)... must comply with current foreign exchange management regulations and related laws.
Article 3. This Decision takes effect from the date of signing. The validity period of this Decision is... years from the date of signing.
| | GOVERNOR/DIRECTOR |
… (Name of economic organization) requests to change the Certificate of Registration for Currency Exchange Agent with the following content:[49]
(issued together with Circular No. 21/2014/TT-NHNN dated August 14, 2014 of the Governor of the State Bank of Vietnam)
| STATE BANK OF VIETNAM | SOCIALIST REPUBLIC OF VIET NAM |
| No.: /QĐ-NHNN | ……, day …. month …. year …. |
Pursuant to …;
Regarding the approval of foreign exchange activities for the Vietnam Development Bank
GOVERNOR OF THE STATE BANK OF VIETNAM
Pursuant to the Law on the State Bank of Vietnam No. 46/2010/QH12;
Pursuant to the Law on Credit Organizations No. 32/2024/QH15 amended and supplemented by Law No. 96/2025/QH15;
Pursuant to Decree on Foreign Exchange No. 28/2005/PL-UBTVQH11 and Decree No. 06/2013/UBTVQH13 amending and supplementing certain articles of the Decree on Foreign Exchange;
Pursuant to Circular No. 21/2014/TT-NHNN of the Governor of the State Bank of Vietnam guiding the scope of foreign exchange activities, conditions, procedures, and formalities for approving foreign exchange activities of credit institutions and foreign bank branches;
Pursuant to Circular No. 75/2025/TT-NHNN of the Governor of the State Bank of Vietnam amending and supplementing certain provisions in legal normative documents in the field of managing foreign exchange service supply and use to implement plans to reduce and simplify administrative procedures;
Considering the request of the Vietnam Development Bank at the Request for Conversion of Approval Documents for Foreign Exchange Activities No... dated...month...year....;
At the proposal of the Director of the Credit Institution Supervision Department,
DECISION:
Article 1.
Permitting the Vietnam Development Bank
Fax:
Telephone: Fax:
Business Registration Number:...
Organizational identification code (if applicable):
Decision No...dated.../.../...
to carry out basic foreign exchange activities in the domestic market and international market with the following contents:
Trading and providing foreign exchange services in the domestic market and/or international market within the scope prescribed by the State Bank of Vietnam.
Article 2. During the implementation of foreign exchange activities, the Vietnam Development Bank must comply strictly with current regulations on foreign exchange management and related laws.
Article 3. This Decision takes effect from the date of signature and replaces previous approval documents for foreign exchange activities.
|
Place of Receipt:
| GOVERNOR |
| STATE BANK OF VIETNAM No.: 29/VBHN-NHNN | CERTIFIED CONSOLIDATED DOCUMENT
Hanoi, January 20, 2026
DIRECTOR |
[1] Circular No. 28/2016/TT-NHNN amending and supplementing certain provisions of Circular No. 21/2014/TT-NHNN dated August 14, 2014 of the Governor of the State Bank of Vietnam guiding the scope of foreign exchange activities, conditions, procedures, and formalities for approving foreign exchange activities of credit institutions and foreign bank branches, is promulgated based on the following grounds:
“Pursuant to the Law on the State Bank of Vietnam No. 46/2010/QH12 dated June 16, 2010;
Pursuant to Law on Credit Institutions No. 47/2010/QH12 dated June 16, 2010;
Pursuant to Decree on Foreign Exchange No. 28/2005/PL-UBTVQH11 dated December 13, 2005 and Decree No. 06/2013/UBTVQH13 dated March 18, 2013 amending and supplementing certain articles of the Decree on Foreign Exchange;
Pursuant to Decree No. 156/2013/NĐ-CP dated November 11, 2013, of the Government stipulating the functions, tasks, powers, and organizational structure of the State Bank of Vietnam;
At the proposal of the Director of the Department of Foreign Exchange Management;
The Governor of the State Bank of Vietnam promulgates Circular amending and supplementing certain provisions of Circular No. 21/2014/TT-NHNN dated August 14, 2014 guiding the scope of foreign exchange activities, conditions, procedures, and formalities for approving foreign exchange activities of credit institutions and foreign bank branches.”
[2] Circular No. 75/2025/TT-NHNN amending and supplementing certain provisions in legal regulatory documents in the field of managing foreign exchange service provision and usage to implement plans for reducing and simplifying administrative procedures, is promulgated based on the following grounds:
"Pursuant to the Law on the State Bank of Vietnam No. 46/2010/QH12;
Pursuant to the Law on Credit Organizations No. 32/2024/QH15 amended and supplemented by Law No. 96/2025/QH15;
||| Pursuant to Decree No. 28/2005/PL-UBTVQH11 on Foreign Exchange, amended and supplemented by Decree No. 06/2013/PL-UBTVQH13;
Pursuant to Decree No. 26/2025/NĐ-CP of the Government stipulating the functions, tasks, powers, and organizational structure of the State Bank of Vietnam;
At the proposal of the Director of the Foreign Exchange Management Department;
The Governor of the State Bank of Vietnam promulgates Circular amending and supplementing certain provisions in legal regulatory documents in the field of managing foreign exchange service provision and usage to implement plans for reducing and simplifying administrative procedures.”
[3] This Clause is added pursuant to Clause 1, Article 1 of Circular No. 28/2016/TT-NHNN amending and supplementing certain provisions of Circular No. 21/2014/TT-NHNN dated August 14, 2014 of the Governor of the State Bank of Vietnam guiding the scope of foreign exchange activities, conditions, procedures, and formalities for approving foreign exchange activities of credit institutions and foreign bank branches, which takes effect from November 18, 2016.
[4] This Clause is amended pursuant to Clause 2, Article 1 of Circular No. 28/2016/TT-NHNN amending and supplementing certain provisions of Circular No. 21/2014/TT-NHNN dated August 14, 2014 of the Governor of the State Bank of Vietnam guiding the scope of foreign exchange activities, conditions, procedures, and formalities for approving foreign exchange activities of credit institutions and foreign bank branches, which takes effect from November 18, 2016.
[5] This Clause is repealed pursuant to Clause 3, Article 1 of Circular No. 28/2016/TT-NHNN amending and supplementing certain provisions of Circular No. 21/2014/TT-NHNN dated August 14, 2014 of the Governor of the State Bank of Vietnam guiding the scope of foreign exchange activities, conditions, procedures, and formalities for approving foreign exchange activities of credit institutions and foreign bank branches, which takes effect from November 18, 2016.
[6] This Article is amended pursuant to Article 14 of Circular No. 75/2025/TT-NHNN amending and supplementing certain provisions in legal regulatory documents in the field of managing foreign exchange service provision and usage to implement plans for reducing and simplifying administrative procedures, which takes effect from December 31, 2025.
[7] This is supplemented pursuant to Article 15 of Circular No. 75/2025/TT-NHNN amending and supplementing certain provisions of legal documents governing the management of service provision and foreign currency usage activities to implement measures for reducing and simplifying administrative procedures, which shall take effect from December 31, 2025.
[8] This clause is amended pursuant to Clause 5 of Article 1 of Circular No. 28/2016/TT-NHNN amending and supplementing certain articles of Circular No. 21/2014/TT-NHNN dated August 14, 2014 issued by the Governor of the State Bank of Vietnam guiding the scope of foreign exchange operations, conditions, procedures, and approval formalities for foreign exchange activities of credit institutions and branches of foreign banks, which shall take effect from November 18, 2016.
[9] This clause is supplemented pursuant to Clause 5 of Article 1 of Circular No. 28/2016/TT-NHNN amending and supplementing certain articles of Circular No. 21/2014/TT-NHNN dated August 14, 2014 issued by the Governor of the State Bank of Vietnam guiding the scope of foreign exchange operations, conditions, procedures, and approval formalities for foreign exchange activities of credit institutions and branches of foreign banks, which shall take effect from November 18, 2016.
[10] This clause is supplemented pursuant to Clause 5 of Article 1 of Circular No. 28/2016/TT-NHNN amending and supplementing certain articles of Circular No. 21/2014/TT-NHNN dated August 14, 2014 issued by the Governor of the State Bank of Vietnam guiding the scope of foreign exchange operations, conditions, procedures, and approval formalities for foreign exchange activities of credit institutions and branches of foreign banks, which shall take effect from November 18, 2016.
[11] This clause is supplemented pursuant to Clause 5 of Article 1 of Circular No. 28/2016/TT-NHNN amending and supplementing certain articles of Circular No. 21/2014/TT-NHNN dated August 14, 2014 issued by the Governor of the State Bank of Vietnam guiding the scope of foreign exchange operations, conditions, procedures, and approval formalities for foreign exchange activities of credit institutions and branches of foreign banks, which shall take effect from November 18, 2016.
[12] This clause is supplemented pursuant to Clause 5 of Article 1 of Circular No. 28/2016/TT-NHNN amending and supplementing certain articles of Circular No. 21/2014/TT-NHNN dated August 14, 2014 issued by the Governor of the State Bank of Vietnam guiding the scope of foreign exchange operations, conditions, procedures, and approval formalities for foreign exchange activities of credit institutions and branches of foreign banks, which shall take effect from November 18, 2016.
[13] This is amended pursuant to Clause 6 of Article 1 of Circular No. 28/2016/TT-NHNN amending and supplementing certain articles of Circular No. 21/2014/TT-NHNN dated August 14, 2014 issued by the Governor of the State Bank of Vietnam guiding the scope of foreign exchange operations, conditions, procedures, and approval formalities for foreign exchange activities of credit institutions and branches of foreign banks, which shall take effect from November 18, 2016.
[14] This is amended pursuant to Clause 7 of Article 1 of Circular No. 28/2016/TT-NHNN amending and supplementing certain articles of Circular No. 21/2014/TT-NHNN dated August 14, 2014 issued by the Governor of the State Bank of Vietnam guiding the scope of foreign exchange operations, conditions, procedures, and approval formalities for foreign exchange activities of credit institutions and branches of foreign banks, which shall take effect from November 18, 2016.
[15] This is amended pursuant to Clause 8 of Article 1 of Circular No. 28/2016/TT-NHNN amending and supplementing certain articles of Circular No. 21/2014/TT-NHNN dated August 14, 2014 issued by the Governor of the State Bank of Vietnam guiding the scope of foreign exchange operations, conditions, procedures, and approval formalities for foreign exchange activities of credit institutions and branches of foreign banks, which shall take effect from November 18, 2016.
[16] This is amended pursuant to Clause 9 of Article 1 of Circular No. 28/2016/TT-NHNN amending and supplementing certain articles of Circular No. 21/2014/TT-NHNN dated August 14, 2014 issued by the Governor of the State Bank of Vietnam guiding the scope of foreign exchange operations, conditions, procedures, and approval formalities for foreign exchange activities of credit institutions and branches of foreign banks, which shall take effect from November 18, 2016.
[17] This is amended pursuant to Article 16 of Circular No. 75/2025/TT-NHNN amending and supplementing certain provisions of legal documents governing the management of service provision and foreign currency usage activities to implement measures for reducing and simplifying administrative procedures, which shall take effect from December 31, 2025.
[18] This is amended pursuant to Article 17 of Circular No. 75/2025/TT-NHNN amending and supplementing certain provisions of legal documents governing the management of service provision and foreign currency usage activities to implement measures for reducing and simplifying administrative procedures, which shall take effect from December 31, 2025.
[19] This is amended pursuant to Article 18 of Circular No. 75/2025/TT-NHNN amending and supplementing certain provisions of legal documents governing the management of service provision and foreign currency usage activities to implement measures for reducing and simplifying administrative procedures, which shall take effect from December 31, 2025.
[20] This provision is amended in accordance with Clause 13, Article 1 of Circular No. 28/2016/TT-NHNN amending and supplementing certain provisions of Circular No. 21/2014/TT-NHNN dated August 14, 2014, issued by the Governor of the State Bank of Vietnam guiding the scope of foreign exchange activities, conditions, procedures, and approval formalities for foreign exchange operations of credit institutions and branches of foreign banks, which took effect from November 18, 2016.
[21] This provision is amended in accordance with Clause 14, Article 1 of Circular No. 28/2016/TT-NHNN amending and supplementing certain provisions of Circular No. 21/2014/TT-NHNN dated August 14, 2014, issued by the Governor of the State Bank of Vietnam guiding the scope of foreign exchange activities, conditions, procedures, and approval formalities for foreign exchange operations of credit institutions and branches of foreign banks, which took effect from November 18, 2016.
[22] The name of this provision is amended in accordance with Clause 15, Article 1 of Circular No. 28/2016/TT-NHNN amending and supplementing certain provisions of Circular No. 21/2014/TT-NHNN dated August 14, 2014, issued by the Governor of the State Bank of Vietnam guiding the scope of foreign exchange activities, conditions, procedures, and approval formalities for foreign exchange operations of credit institutions and branches of foreign banks, which took effect from November 18, 2016.
[23] The name of this provision is amended in accordance with Clause 16, Article 1 of Circular No. 28/2016/TT-NHNN amending and supplementing certain provisions of Circular No. 21/2014/TT-NHNN dated August 14, 2014, issued by the Governor of the State Bank of Vietnam guiding the scope of foreign exchange activities, conditions, procedures, and approval formalities for foreign exchange operations of credit institutions and branches of foreign banks, which took effect from November 18, 2016.
[24] The name of this provision is amended in accordance with Clause 17, Article 1 of Circular No. 28/2016/TT-NHNN amending and supplementing certain provisions of Circular No. 21/2014/TT-NHNN dated August 14, 2014, issued by the Governor of the State Bank of Vietnam guiding the scope of foreign exchange activities, conditions, procedures, and approval formalities for foreign exchange operations of credit institutions and branches of foreign banks, which took effect from November 18, 2016.
[25] This provision is amended in accordance with Article 19 of Circular No. 75/2025/TT-NHNN amending and supplementing certain provisions of legal normative documents in the field of managing service supply and foreign currency usage to implement plans for reducing and simplifying administrative procedures, which took effect from December 31, 2025.
[26] This provision is amended in accordance with Article 20 of Circular No. 75/2025/TT-NHNN amending and supplementing certain provisions of legal normative documents in the field of managing service supply and foreign currency usage to implement plans for reducing and simplifying administrative procedures, which took effect from December 31, 2025.
[27] This provision is amended in accordance with Clause 20, Article 1 of Circular No. 28/2016/TT-NHNN amending and supplementing certain provisions of Circular No. 21/2014/TT-NHNN dated August 14, 2014, issued by the Governor of the State Bank of Vietnam guiding the scope of foreign exchange activities, conditions, procedures, and approval formalities for foreign exchange operations of credit institutions and branches of foreign banks, which took effect from November 18, 2016.
[28] This provision is amended in accordance with Clause 21, Article 1 of Circular No. 28/2016/TT-NHNN amending and supplementing certain provisions of Circular No. 21/2014/TT-NHNN dated August 14, 2014, issued by the Governor of the State Bank of Vietnam guiding the scope of foreign exchange operations, conditions, procedures, and approval formalities for foreign exchange activities of credit institutions and branches of foreign banks, which took effect from November 18, 2016.
[29] This provision is added in accordance with Clause 22, Article 1 of Circular No. 28/2016/TT-NHNN amending and supplementing certain provisions of Circular No. 21/2014/TT-NHNN dated August 14, 2014, issued by the Governor of the State Bank of Vietnam guiding the scope of foreign exchange operations, conditions, procedures, and approval formalities for foreign exchange activities of credit institutions and branches of foreign banks, which took effect from November 18, 2016.
[30] This provision is amended in accordance with Clause 23, Article 1 of Circular No. 28/2016/TT-NHNN amending and supplementing certain provisions of Circular No. 21/2014/TT-NHNN dated August 14, 2014, issued by the Governor of the State Bank of Vietnam guiding the scope of foreign exchange operations, conditions, procedures, and approval formalities for foreign exchange activities of credit institutions and branches of foreign banks, which took effect from November 18, 2016.
[31] This provision is amended in accordance with Clause 24, Article 1 of Circular No. 28/2016/TT-NHNN amending and supplementing certain provisions of Circular No. 21/2014/TT-NHNN dated August 14, 2014, issued by the Governor of the State Bank of Vietnam guiding the scope of foreign exchange operations, conditions, procedures, and approval formalities for foreign exchange activities of credit institutions and branches of foreign banks, which took effect from November 18, 2016.
[32] This provision is amended in accordance with Clause 25, Article 1 of Circular No. 28/2016/TT-NHNN amending and supplementing certain provisions of Circular No. 21/2014/TT-NHNN dated August 14, 2014, issued by the Governor of the State Bank of Vietnam guiding the scope of foreign exchange operations, conditions, procedures, and approval formalities for foreign exchange activities of credit institutions and branches of foreign banks, which took effect from November 18, 2016.
[33] This provision is amended in accordance with Article 21 of Circular No. 75/2025/TT-NHNN amending and supplementing certain provisions of legal normative documents in the field of managing service supply and foreign currency usage to implement plans for reducing and simplifying administrative procedures, which took effect from December 31, 2025.
[34] This provision is amended in accordance with Clause 27, Article 1 of Circular No. 28/2016/TT-NHNN amending and supplementing certain provisions of Circular No. 21/2014/TT-NHNN dated August 14, 2014, issued by the Governor of the State Bank of Vietnam guiding the scope of foreign exchange operations, conditions, procedures, and approval formalities for foreign exchange activities of credit institutions and branches of foreign banks, which took effect from November 18, 2016.
[35] This provision is amended in accordance with Article 22 of Circular No. 75/2025/TT-NHNN amending and supplementing certain provisions of legal normative documents in the field of managing service supply and foreign currency usage to implement plans for reducing and simplifying administrative procedures, which took effect from December 31, 2025.
[36] This provision is added in accordance with Article 23 of Circular No. 75/2025/TT-NHNN amending and supplementing certain provisions of legal normative documents in the field of managing service supply and foreign currency usage to implement plans for reducing and simplifying administrative procedures, which took effect from December 31, 2025.
[37] This provision has been amended pursuant to Clause 30, Article 1 of Circular No. 28/2016/TT-NHNN amending and supplementing certain provisions of Circular No. 21/2014/TT-NHNN dated August 14, 2014 of the Governor of the State Bank of Vietnam guiding the scope of foreign exchange activities, conditions, procedures, and formalities for approving foreign exchange activities of credit institutions and branches of foreign banks, which took effect from November 18, 2016.
[38] This Chapter includes Articles 31, 32, 33, and 34 which have been repealed pursuant to Clause 1, Article 27 of Circular No. 75/2025/TT-NHNN amending and supplementing certain provisions of legal documents in the field of managing service supply and foreign currency usage to implement measures for reducing and simplifying administrative procedures, which took effect from December 31, 2025.
[39] This clause has been amended pursuant to Clause 1, Article 24 of Circular No. 75/2025/TT-NHNN amending and supplementing certain provisions of legal documents in the field of managing service supply and foreign currency usage to implement measures for reducing and simplifying administrative procedures, which took effect from December 31, 2025.
[40] This clause has been added pursuant to Clause 2, Article 24 of Circular No. 75/2025/TT-NHNN amending and supplementing certain provisions of legal documents in the field of managing service supply and foreign currency usage to implement measures for reducing and simplifying administrative procedures, which took effect from December 31, 2025.
[41] This provision has been amended pursuant to Article 25 of Circular No. 75/2025/TT-NHNN amending and supplementing certain provisions of legal documents in the field of managing service supply and foreign currency usage to implement measures for reducing and simplifying administrative procedures, which took effect from December 31, 2025.
[42] Articles 3 and 4 of Circular No. 28/2016/TT-NHNN amending and supplementing certain provisions of Circular No. 21/2014/TT-NHNN dated August 14, 2014 of the Governor of the State Bank of Vietnam guiding the scope of foreign exchange activities, conditions, procedures, and formalities for approving foreign exchange activities of credit institutions and branches of foreign banks, which took effect from November 18, 2016, are stipulated as follows:
“Article 3. Effective Date
This Circular takes effect from November 18, 2016.
Article 4. Organization of Implementation
The Director of the Office, Heads of the Foreign Exchange Management Department, Heads of units under the State Bank of Vietnam, Governors of the State Bank of Vietnam Branches in provinces and cities, Chairmen of the Board of Directors, Chairmen of the Board of Members, General Directors (Directors) of commercial banks, General Directors (Directors) of branches of foreign banks shall be responsible for organizing the implementation of this Circular.”
[43] Articles 36 and 37 of Circular No. 75/2025/TT-NHNN amending and supplementing certain provisions of legal documents in the field of managing service supply and foreign currency usage to implement measures for reducing and simplifying administrative procedures, which took effect from December 31, 2025, are stipulated as follows:
“Article 36. Effective Date
1. This Circular takes effect from December 31, 2025.
2. From the date this Circular takes effect, the following documents and regulations cease to be effective:
a) Circular No. 16/2015/TT-NHNN dated October 19, 2015 of the Governor of the State Bank of Vietnam amending and supplementing certain provisions of Circular No. 32/2013/TT-NHNN;
b) Circular No. 23/2022/TT-NHNN dated December 30, 2022 of the Governor of the State Bank of Vietnam amending and supplementing certain provisions of legal documents to decentralize the handling of administrative procedures in the field of foreign exchange management;
c) Clause 3, Clause 4, Clause 7, Clause 8, Clause 9, Clause 10 of Article 1, Clause 4, Clause 6, Clause 7, Clause 9 of Article 2 of Circular No. 11/2016/TT-NHNN of the Governor of the State Bank of Vietnam amending and supplementing certain legal documents on foreign currency service supply and payment activities, foreign currency exchange agency activities, and individual foreign currency exchange table activities;
d) Clause 4, Clause 10, Clause 11, Clause 12, Clause 34, Clause 26, Clause 28, Clause 29, Clause 31, Clause 32, Clause 33, Clause 35 of Article 1, Article 2 of Circular No. 28/2016/TT-NHNN of the Governor of the State Bank of Vietnam amending and supplementing certain provisions of Circular No. 21/2014/TT-NHNN;
đ) Article 3 of Circular No. 17/2018/TT-NHNN of the Governor of the State Bank of Vietnam amending and supplementing certain provisions of Circulars governing the issuance of licenses, network operations, and foreign exchange activities of credit institutions and branches of foreign banks;
e) Clause 2, Clause 3, Clause 4 of Article 1, Article 3 of Circular No. 15/2019/TT-NHNN of the Governor of the State Bank of Vietnam amending and supplementing certain legal documents on foreign exchange management administrative procedure files and formalities;
g) Clause 1, Clause 2, Clause 3 of Article 2 of Circular No. 24/2022/TT-NHNN of the Governor of the State Bank of Vietnam amending and supplementing certain provisions of Circulars governing foreign exchange management administrative procedures;
Article 37. Responsibility for implementation organization
Heads of relevant units under the State Bank of Vietnam, credit institutions, branches of foreign banks, organizations, and individuals related thereto shall be responsible for implementing this Circular./”
[44] This provision has been amended pursuant to Article 26 of Circular No. 75/2025/TT-NHNN amending and supplementing certain provisions of legal documents in the field of managing service supply and foreign currency usage to implement measures for reducing and simplifying administrative procedures, which took effect from December 31, 2025.
[45] This Appendix has been replaced pursuant to Clause 2, Article 27 of Circular No. 75/2025/TT-NHNN amending and supplementing certain provisions of legal documents in the field of managing service supply and foreign currency usage to implement measures for reducing and simplifying administrative procedures, which took effect from December 31, 2025.
[46] This Appendix has been repealed pursuant to Point d, Clause 2, Article 36 of Circular No. 75/2025/TT-NHNN amending and supplementing certain provisions of legal documents in the field of managing service supply and foreign currency usage to implement measures for reducing and simplifying administrative procedures, which took effect from December 31, 2025.
[47] This Appendix has been replaced pursuant to Clause 2, Article 27 of Circular No. 75/2025/TT-NHNN amending and supplementing certain provisions of legal documents in the field of managing service supply and foreign currency usage to implement measures for reducing and simplifying administrative procedures, which took effect from December 31, 2025.
3 Decision of the Governor of the State Bank of Vietnam on the establishment, functions, tasks, powers, and organizational structure of the State Bank of Vietnam Branch in the Region...
[48] This Appendix has been replaced pursuant to Clause 2, Article 27 of Circular No. 75/2025/TT-NHNN amending and supplementing certain provisions of legal documents in the field of managing service supply and foreign currency usage to implement measures for reducing and simplifying administrative procedures, which took effect from December 31, 2025.
[49] This Appendix has been replaced pursuant to Clause 2, Article 27 of Circular No. 75/2025/TT-NHNN amending and supplementing certain provisions of legal documents in the field of managing service supply and foreign currency usage to implement measures for reducing and simplifying administrative procedures, which took effect from December 31, 2025.
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