Press release on issuance of Circular No. 17/2016/TT-NHNN
The Governor of the State Bank of Vietnam (SBV) issued Circular 17/2016/TT-NHNN on June 30, 2016 stipulating the currency brokerage activities of commercial banks, foreign bank branches. The Circular replaces Regulation on the currency brokerage promulgated with Decision No.351/2004/QD-NHNN of the SBV Governor dated April 7, 2004.
The Circular consists of 3 sections. In particular:
(i) Stipulating the governing scope, implementers, interpretation, principles of currency brokerage activities;
(ii) Stipulating the scope of currency brokerage, methods for conducting currency brokerage, contract of currency brokerage, fee for currency brokerage, archives of files
(iii) Stipulating the validity and implementation.
The Circular shall come into effect from August 22, 2016
The State Bank of Vietnam
Translated by Viet Huong