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THE STATE BANK
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SOCIALIST REPUBLIC OF VIET NAM
Independence - Freedom - Happiness
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No:
878/2002/QD-NHNN
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Hanoi, August 19, 2002
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DECISION
AMENDING AND SUPPLEMENTING A NUMBER OF POINTS
OF THE STATE BANK’S CIRCULAR NO. 02/2000/TT-NHNN OF FEBRUARY 24, 2000 GUIDING
THE IMPLEMENTATION OF THE PRIME MINISTER’S DECISION NO. 170/1999/QD-TTg OF
AUGUST 19, 1999
THE STATE BANK GOVERNOR
Pursuant to the Law on the
State Bank and the Law on Credit Institutions of December 12, 1997;
Pursuant to the Government’s Decree No. 15/CP of March 2, 1993 on the tasks,
powers and State management responsibilities of the ministries and
ministerial-level agencies;
Pursuant to the Prime Minister’s Decision No. 170/1999/QD-TTg of August 19,
1999 on encouraging overseas Vietnamese to transfer money back to the country;
Pursuant to the Prime Minister’s Decision No. 78/2002/QD-TTg of June 17, 2002
amending and supplementing Decision No. 170/1999/QD-TTg of August 19, 1999 on
encouraging overseas Vietnamese to transfer money back to the country;
At the proposal of the Director of the Foreign Exchange Management Department,
DECIDES:
Article 1.- To amend and
supplement a number of points in Circular No. 02/2000/TT-NHNN of February 24,
2000 of the State Bank guiding the implementation of the Prime Minister’s
Decision No. 170/1999/QD-TTg of August 19, 1999 on encouraging overseas
Vietnamese to transfer money back to the country as follows:
1. To add Points 5, 6 and 7 to
Section II as follows:
"5. For credit institutions
acting as agents for economic organizations licensed to provide the foreign
currency reception and delivery services:
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b) If the credit institutions
and the economic organizations agree that the credit institutions shall advance
their money for delivery to the beneficiaries, the economic organizations shall
have to open deposit accounts at the credit institutions acting as their
agents. The maximum advances shall be equal to the amounts deposited at the
credit institutions.
c) Credit institutions acting as
agents on the basis of the agency contracts signed with economic organizations
shall not have to apply for permission from the State Bank, but only notify and
send copies of the agency contracts to the State Bank’s provincial/municipal
branches in their respective localities within 10 working days as from the date
of signing the agency contracts.
6. For credit institutions
acting as agents for credit institutions licensed to provide foreign currency
reception and delivery services:
a) Credit institutions shall be
allowed to act as foreign currency-delivering agents for credit institutions
which are licensed to provide foreign currency reception and delivery services
on the basis of the agency contracts signed between the credit institutions
acting as agents and the credit institutions licensed to provide foreign
currency reception and delivery services;
b) Credit institutions acting as
agents on the basis of the agency contracts signed with credit institutions
licensed to provide foreign currency reception and delivery services shall not
have to apply for permission from the State Bank, but only notify and send
copies of the agency contracts to the State Bank’s provincial/municipal
branches in their respective localities within 10 working days as from the date
of signing the agency contracts.
7. Economic organizations and
credit institutions acting as delivery agents must not sign other agency
contracts to authorize other credit institutions or economic organizations to
effect the delivery.
Economic organizations licensed
by the State Bank to provide foreign currency reception and delivery services
must not sign other agency contracts to authorize other economic organizations
to effect the delivery."
2. To amend and supplement
Section VI as follows:
a) To amend Point 1c as follows:
"The State Bank’s provincial/municipal branches shall report to the State
Bank (the Foreign Exchange Management Department) on the provision of foreign
currency-delivery agency services by economic organizations and credit institutions
acting as agents in their respective localities (according to set form in
Appendix V)".
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c) To amend and supplement Point
2 as follows: "Quarterly, on the 5th of the first month of the subsequent
quarter at the latest, economic organizations and credit institutions acting as
delivery agents shall have to report to the State Bank’s provincial/municipal
branches in their respective localities on the figures and situation on foreign
currency delivery-service provision in the localities (according to set form in
Appendix VII)".
Article 2.- To replace the form of
reports of the State Bank’s provincial/municipal branches on the situation of
acting as foreign currency delivery agents for licensed credit institutions by
economic organizations in the localities (Appendix V), issued together with
Circular No. 02/2000/TT-NHNN of February 24, 2000 with the form prescribed in
Appendix V* to this Decision.
To replace the form of reports
of economic organizations on the situation of acting as foreign currency
delivery agents for licensed credit institutions (Appendix VII) , issued
together with Circular No. 02/2000/TT-NHNN of February 24, 2000 with the form
prescribed in Appendix VII* to this Decision.
Article 3.- This Decision takes
effect 15 days after its signing.
Article 4.- The
director of the Office, the Chief Inspector, the heads of the units under the
State Bank, the directors of the State Bank’s provincial/municipal
branches, the general directors (directors) of credit institutions, and the
general directors (directors) of economic organizations providing foreign currency
reception and delivery services shall have to implement this Decision.
FOR THE STATE BANK GOVERNOR
DEPUTY GOVERNOR
Phung Khac Ke
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Name of the State Bank’s branch in provinces, cities
SOCIALIST REPUBLIC OF VIETNAM
Independence- Freedom- Happiness
No.
Province...,
(city...) date
REPORT
(on the status of providing the service as
agents in foreign currency payment of economic, organizations, credit
institutions in the area of provinces, cities ...Quarter ... of 200...)
To: The State Bank of Vietnam (The
Foreign Exchange Control Department)
1. Total number of credit institutions (economic organizations) acting
as agents for the payment
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b. Total number of credit
institutions acting as agents in foreign currency payment at the beginning of
the Quarter ....of the year 200...:
c. Total number of economic
organizations which are granted a license by branches to provide the services
of receiving and payment of foreign currency for the permitted credit
institutions during the quarter .... of the 200 ....:
d. Total number of economic
organizations which are withdrawn license or temporarily suspended to act as
agents for foreign currency payment for the permitted credit institutions
during the quarter .... of the 200 ....:
2. Status of acting as agents for the payment of foreign currency:
Name
of credit institutions, economic organizations
Total
foreign currency received for the payment of the economic organizations,
permitted credit institutions (Converted to USD)
Payment
to the Beneficiary
Note
Payment
in foreign currency (converted to USD)
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1. Credit institution/
Economic organization (A)
2. Credit institution/
Economic organization (A)
Total
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3. General evaluation and
proposal on the status of receiving and payment of foreign currency:
Manager
APPENDIX VII
Name of credit institutions, economic organizations acting as agents
SOCIALIST REPUBLIC OF VIETNAM
Independence- Freedom- Happiness
No.
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REPORT
(on the acting as agents for foreign
currency payment of the Quarter ....... of the year 200...)
To: The State Bank’s branches in
provinces, cities....
Name
of economic organizations, permitted credit institutions
Amount
received from the economic organizations, permitted credit institutions
(Converted to USD)
Payment
to the Beneficiary
Note
Payment
in foreign currency (Converted to USD)
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Total
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GENERAL DIRECTOR (Director)