Circular No. 55/2024/TT-NHNN amends Clause 4, Article 2 of Circular No. 19/2018/TT-NHNN, stipulating the establishment of bank branches permitted in border provinces of Vietnam - China. This document applies to credit institutions and banks engaged in foreign exchange operations.
적용 범위
Commercial banks and foreign bank branches permitted to operate foreign exchange in Vietnam
핵심 사항
- Branches of banks permitted to be established in border provinces of Vietnam - China (Article 1).
- Heads of relevant units under the State Bank of Vietnam, commercial banks, and foreign bank branches permitted to operate foreign exchange in Vietnam are responsible for implementing this Circular (Article 2).
- This Circular takes effect from February 1, 2025.
- This document amends and supplements regulations on foreign exchange management for cross-border trade activities between Vietnam and China.
- Banks are permitted to establish branches in border provinces to conduct foreign exchange transactions related to cross-border trade.
🌐 이 문서의 사회적 영향
- Strengthening foreign exchange management in cross-border trade activities between Vietnam and China.
- Encouraging banks to establish branches in border provinces to serve foreign exchange transactions.
- Reducing foreign exchange risks for businesses and people involved in cross-border trade.
❓ 자주 묻는 질문
What does Circular No. 55/2024/TT-NHNN amend in Circular No. 19/2018/TT-NHNN?
Amending Clause 4, Article 2, stipulating the establishment of bank branches permitted in border provinces of Vietnam - China.
When does this Circular take effect?
This Circular takes effect from February 1, 2025.
Who is responsible for organizing the implementation of this Circular?
Heads of relevant units under the State Bank of Vietnam, commercial banks, and foreign bank branches permitted to operate foreign exchange in Vietnam.
Where can banks establish branches?
Banks are permitted to establish branches in border provinces of Vietnam - China to conduct foreign exchange transactions related to cross-border trade.
What impact does this Circular have on cross-border trade activities?
Strengthening foreign exchange management in cross-border trade activities, encouraging banks to establish branches in border provinces to serve foreign exchange transactions.
전문
CIRCULAR
Amending Clause 4, Article 2 of Circular No. 19/2018/TT-NHNN dated August 28, 2018 of the Governor of the State Bank of Vietnam
guiding foreign exchange management for cross-border trade activities between Vietnam and China
Pursuant to the Law on the State Bank of Vietnam dated June 16, 2010;
Pursuant to the Law on Credit Organizations dated January 18, 2024;
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Pursuant to the Foreign Exchange Ordinance dated December 13, 2005; the Ordinance amending and supplementing certain articles of the Foreign Exchange Ordinance dated March 18, 2013;
Pursuant to Decree No. 14/2028/NĐ-CP dated January 23, 2018 of the Government detailing cross-border trade activities; Decree No. 122/2024/NĐ-CP dated October 4, 2024 of the Government amending and supplementing certain articles of Decree No.
14/2028/NĐ-CP
dated January 23, 2018 of the Government detailing cross-border trade activities;Pursuant to Decree No. 102/2022/NĐ-CP dated December 12, 2022 of the Government stipulating the functions, tasks, powers, and organizational structure of the State Bank of Vietnam; Decree No. 146/2024/NĐ-CP dated November 6, 2024 of the Government amending and supplementing, abolishing certain articles of Decree No. 102/2022/NĐ-CP dated December 12, 2022 of the Government stipulating the functions, tasks, powers, and organizational structure of the State Bank of Vietnam and Decree No. 26/2014/NĐ-CP dated April 7, 2014 of the Government on the organization and operation of banking inspection and supervision which has been amended and supplemented by Decree No. 43/2019/NĐ-CP dated May 17, 2019 of the Government;Implementing the Border Trade Agreement signed on September 12, 2016 between the Government of the Socialist Republic of Vietnam and the Government of the People's Republic of China and the Settlement and Cooperation Agreement signed on May 26, 1993, amended on October 16, 2003 between the State Bank of Vietnam and the People's Bank of China;
Amending Clause 4, Article 2 of Circular No. 19/2018/TT-NHNN dated August 28, 2018 of the Governor of the State Bank of Vietnam
Article 1. Amend Clause 4, Article 2 of Circular No. 19/2018/TT-NHNN dated August 28, 2018 of the Governor of the State Bank of Vietnam guiding foreign exchange management for cross-border trade activities between Vietnam and China as follows:
At the proposal of the Director of the Department of Foreign Exchange Management;
The Governor of the State Bank of Vietnam promulgates this Circular "4. Branches of banks permitted to be established in border provinces of Vietnam - China (hereinafter referred to as border bank branches)." guiding foreign exchange management for cross-border trade activities between Vietnam and China.
Heads of relevant units under the State Bank of Vietnam, commercial banks, and foreign bank branches permitted to operate foreign exchange in Vietnam shall be responsible for implementing this Circular.
This Circular takes effect from February 1, 2025./.
Article 2. Responsibility for Implementation
The heads of relevant units under the State Bank of Vietnam, commercial banks, and foreign bank branches permitted to operate foreign exchange in Vietnam are responsible for implementing this Circular.
Article 3. Implementation Provisions
This Circular takes effect from February 1, 2025./.
DEPUTY DIRECTOR
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