The Governor of the State Bank of Vietnam (SBV) issued Decision No.1761/QĐ-NHNN on September 1st to publicize new administrative procedure under its jurisdiction.
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Accordingly, the SBV officially publicizes one newly issued administrative procedure in the field of forex operations as follows: procedure applicable to credit institutions and foreign bank branches to establish forex transaction relation with the SBV. The newly issued administrative procedure is formulated in line with the regulations of Circular No. 02/2012/TT-NHNN dated February 27, 2015 on guiding forex transactions among the SBV and credit institutions and foreign bank branches.
According to the provisions of the execution of this administrative procedure, when having the need of establishing forex transaction relation with the SBV, credit institutions and foreign bank branches are required to submit one dossier to the SBV (the Banking Operations Center). Within 07 working days from the date of receiving registration dossier from credit institutions and foreign bank branches, the SBV (the Banking Operations Center) is responsible for sending them a written notice of approval, requirement of additional dossier or disapproval of the establishment of forex transaction relation the SBV. In case of supplementing dossier, credit institutions and foreign bank branches are required to supplement dossier and send it to the SBV within 10 working days from receiving the notification.
DH