Press Release on issuance of Circular No.02/2020/TT-NHNN
Hanoi, March 30, 2020 – The Governor of the State Bank of Vietnam (SBV) has issued Circular No. 02/2020/TT-NHNN providing guidance for payment activities and money transfers related to cross-border cargo trading business.
The new Circular is aimed at guiding the implementation of the regulations in Paragraph 5 of Article 18 of Decree No.69/2018/ND-CP dated May 15, 2018 of the Government specifying several articles of the Law on Foreign Trade.
The new Circular is composed of 7 Articles as follows:
- Article 1: Governing scope.
- Article 2: Subjects of application.
- Article 3: Principles for payment and money transfers related to cross-border cargo trading business.
- Article 4: Responsibilities of the licensed banks.
- Article 5: Responsibilities of the traders.
- Article 6: Enforcement.
- Article 7: Implementation.
The new Circular takes effect from May 15, 2020.
Translated by Le Hang