This Decision amends and supplements certain points of the Circular guiding the encouragement of overseas Vietnamese to remit money back home. The Decision stipulates conditions and procedures for credit institutions to act as agents for foreign currency payments, as well as periodic reporting requirements from economic organizations and credit institutions.
适用范围
Credit institutions and economic organizations permitted to receive and pay out foreign currencies, Branches of the State Bank of provinces and centrally-administered cities.
要点
- Credit institutions (including both foreign exchange operating credit institutions and non-foreign exchange operating credit institutions) may act as agents for economic organizations permitted to receive and pay out foreign currencies, provided that they open a guarantee account if there is an agreement on advance payment.
- Credit institutions acting as agents do not need to obtain permission from the State Bank but must notify the agency contract within ten days.
- Economic organizations and credit institutions are not allowed to enter into further agency contracts to delegate the payment responsibility to another credit institution or economic organization.
- Economic organizations and credit institutions acting as agents must report periodically on the situation of receiving and paying out foreign currencies (including through the agent network) according to the prescribed form.
- Branches of the State Bank of provinces and centrally-administered cities must report on the situation of providing agency services for foreign currency payments by economic organizations and credit institutions in their respective areas.
🌐 本文件的社会影响
- Positive impact: Reducing administrative procedures for credit institutions and economic organizations when acting as agents for foreign currency payments.
- Negative impact: It could lead to monetary management risks if not strictly controlled.
❓ 常见问题
What must credit institutions notify and within what time frame after signing an agency contract?
Credit institutions acting as agents for foreign currency payments must notify and submit a copy of the agency contract to the Branch of the State Bank of the province or centrally-administered city within ten working days from the date of signing the contract.
Can economic organizations prepay funds for beneficiaries?
Yes, but the credit institution and economic organization must have an agreement regarding the credit institution's advance payment for the beneficiary. The maximum advance amount equals the deposit amount at the credit institution.
Which entity is responsible for implementing this Decision?
The Director of the Office, the Inspector General, Heads of units under the State Bank, Governors of the State Bank Branches of provinces and centrally-administered cities, General Directors (Directors) of credit institutions, and General Directors (Directors) of economic organizations providing services for receiving and paying out foreign currencies are responsible for implementing this Decision.
Which entities can act as agents for economic organizations permitted to receive and pay out foreign currencies?
Both credit institutions (including both foreign exchange operating credit institutions and non-foreign exchange operating credit institutions) can act as agents for economic organizations authorized by the State Bank.
Which entities must report on the situation of receiving and paying out foreign currencies?
Economic organizations and credit institutions acting as agents for foreign currency payments must report to the Branches of the State Bank of provinces and centrally-administered cities in their respective areas quarterly on the figures and situation of providing agency services for foreign currency payments.
全文
DECISION OF THE GOVERNOR OF THE STATE BANK OF VIETNAM
Regarding the amendment and supplementation of certain points in Circular No. 02/2000/TT-NHNN dated February 24, 2000, guiding the implementation of Decision No. 170/1999/QĐ-TTg dated August 19, 1999 of the Government Prime Minister.
Pursuant to the Law on the State Bank and the Law on Credit Institutions dated December 12, 1997;
Pursuant to Decree No. 15/CP dated March 2, 1993 of the Government on the tasks, powers, and responsibilities for state management of ministries and ministerial-level agencies;
GOVERNOR OF THE STATE BANK OF VIETNAM
Pursuant to Decision No. 170/1999/QĐ-TTg dated August 19, 1999 of the Government Prime Minister encouraging overseas Vietnamese to transfer money back to Vietnam;
Pursuant to Decision No. 78/2002/QĐ-TTg dated June 17, 2002 of the Government Prime Minister amending and supplementing Decision No. 170/1999/QĐ-TTg dated August 19, 1999 encouraging overseas Vietnamese to transfer money back to Vietnam;
Considering the proposal of the Director of the Foreign Exchange Management Department,
.Amend and supplement certain points in Circular No. 02/2000/TT-NHNN dated February 24, 2000 of the State Bank guiding the implementation of Decision No. 170/1999/QĐ-TTg dated August 19, 1999 of the Government Prime Minister encouraging overseas Vietnamese to transfer money back to Vietnam as follows:
1.Supplement Points 5, 6, and 7 in Section II as follows:
DECISION:
Article 1"5.For credit institutions acting as agents for economic organizations permitted to provide foreign currency receipt and payment services
a.Credit institutions (including those authorized to conduct foreign exchange activities and those not authorized to conduct foreign exchange activities) may act as agents for paying foreign currencies to economic organizations that have been granted permits by the State Bank to provide foreign currency receipt and payment services based on agency contracts signed between the economic organization and the credit institution;
b.If the credit institution and the economic organization agree that the credit institution will advance funds to pay on behalf of the Beneficiary, the economic organization must open a guarantee account at the credit institution acting as agent. The maximum advance amount shall be equal to the amount in the guarantee account at the credit institution.
c.The credit institution acting as agent based on an agency contract signed with the economic organization does not need to obtain permission from the State Bank but only needs to notify and submit a copy of the agency contract to the State Bank Branch in the province or city within ten working days from the date of signing the agency contract.
6.For credit institutions acting as agents for credit institutions permitted to provide foreign currency receipt and payment services
a.Credit institutions may act as agents for paying foreign currencies to credit institutions permitted to provide foreign currency receipt and payment services based on agency contracts signed between the credit institutions acting as agents and the credit institutions permitted to provide foreign currency receipt and payment services;
b.Credit institutions acting as agents based on agency contracts signed with credit institutions permitted to provide foreign currency receipt and payment services do not need to obtain permission from the State Bank but only need to notify and submit a copy of the agency contract to the State Bank Branch in the province or city within ten working days from the date of signing the agency contract.
7.Economic organizations and credit institutions acting as agents for paying foreign currencies may not enter into further agency contracts to delegate the payment responsibility to another credit institution or economic organization.
Economic organizations permitted by the State Bank to provide foreign currency receipt and payment services may not enter into further agency contracts to delegate the payment responsibility to another economic organization."
2.Amend and supplement Section VI of Circular No. 02/2000/TT-NHNN as follows:
a.Modify Point 1.c as follows: "State Bank Branches in provinces and centrally-administered cities report to the State Bank (Department of Foreign Exchange Management) on the situation of providing agency payment services for foreign currencies by economic organizations and credit institutions acting as agents in their respective areas (according to Form V attached)."
b.Modify Point 1.d as follows: "Economic organizations and credit institutions permitted to provide foreign currency receipt and payment services report to the State Bank (Department of Foreign Exchange Management) on the data and situation of receiving and paying foreign currencies (including payments through the agency network) by depositors (according to Form VI attached)."
c.Modify and supplement Point 2 as follows: "Quarterly, no later than the fifth day of the first month of each quarter, economic organizations and credit institutions acting as agents for paying foreign currencies must report to the State Bank Branches in provinces and centrally-administered cities in their respective areas on the data and situation of acting as agents for paying foreign currencies in their respective areas (according to Form VII attached)."
Replace the reporting form of the State Bank Branch in the Province, City regarding the situation of providing agency payment services for foreign currencies for credit institutions permitted by economic organizations in the area (Form V) issued together with Circular No. 02/2000/TT-NHNN dated February 24, 2000 with the reporting form prescribed in Form V attached to this Decision.
Replace the reporting form of economic organizations regarding the situation of acting as agents for paying foreign currencies for credit institutions permitted (Form VII) issued together with Circular No. 02/2000/TT-NHNN dated February 24, 2000 with the reporting form prescribed in Form VII attached to this Decision.
Article 2.This Decision takes effect fifteen days after its date of issuance.
The Director of the Office, the Inspector General, Heads of units under the State Bank, Directors of State Bank Branches in provinces and centrally-administered cities, General Managers (Directors) of credit institutions, and General Managers (Directors) of economic organizations providing foreign currency receipt and payment services are responsible for implementing this Decision.
Article 3(Form V)
Article 4Name of State Bank Branch of the Socialist Republic of Vietnam
Province, City
No.: ___/
Province ..., (city ...) on the day month year Independence - Freedom - Happiness
(Regarding the situation of providing agency payment services for foreign currencies by economic organizations, credit institutions in the province, city ... Quarter ... Year 200...)
REPORT
Respectfully submitted to: State Bank (Department of Foreign Exchange Management)
Number of credit institutions (economic organizations) acting as agents for paying foreign currencies
a.Total number of economic organizations acting as agents for paying foreign currencies at the beginning of Quarter ... Year 200...:
1. b.Total number of credit institutions acting as agents for paying foreign currencies at the beginning of Quarter ... Year 200...:
c.Total number of economic organizations granted permits by the Branch to act as agents for paying foreign currencies for credit institutions permitted in Quarter ... Year 200...:
d.Total number of economic organizations whose permits were revoked or suspended from acting as agents for paying foreign currencies for credit institutions permitted in Quarter ... Year 200...:
Situation of acting as agents for paying foreign currencies
Name of credit institution/
2. Economic organization
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Name of credit organization/ Economic organization |
Amount received for payment to authorized economic organizations/banking institutions (Converted to USD) |
Payment to person Beneficiary |
Remarks (4) note |
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Paid in foreign currency (converted to USD) |
Paid in Vietnamese dong |
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1. Banking institution/ Economic organization (A) 2. Banking institution/Economic organization (B) |
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(thousand dong/year) |
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2- Evaluation and recommendations on the situation of receiving and paying out foreign currency
Director
(Annex VII)
Name of Banking Institution, Economic Organization socialist republic of vietnam
Acting as agent ......... Independence - Freedom - Happiness
No.:___/ Province..., (city …) day month year
Report
(Regarding acting as agent for paying out foreign currency Quarter .../year 200...)
Respectfully submitted to: Branch of State Bank of Vietnam province, city...
2. Situation of acting as agent for paying out foreign currency
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Name of authorized economic organization/ banking institution commissioned |
Amount received from economic organization/ authorized banking institution (Converted to USD)
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Payment to person Beneficiary |
Remarks (4) note |
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Paid in foreign currency (converted to USD) |
Paid in Vietnamese dong |
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(thousand dong/year) |
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General director (Director)
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