Nội dung toàn văn Thông tư 04/2023/TT-NHNN hoạt động đại lý đổi tiền của nước có chung biên giới mới nhất
THE STATE BANK OF VIETNAM | SOCIALIST REPUBLIC OF VIETNAM |
No. 04/2023/TT-NHNN | Hanoi, June 16, 2023 |
CIRCULAR
ON OPERATION OF BORDERING EXCHANGE AGENCIES
Pursuant to the Law on the State Bank of Vietnam dated June 16, 2010;
Pursuant to the Law on Credit Institutions dated June 16, 2010 and the Law on amendments to the Law on Credit Institutions dated November 20, 2017;
Pursuant to the Ordinance on Foreign Exchange dated December 13, 2005; the Ordinance on amendments to the Ordinance on Foreign Exchange dated March 18, 2013;
Pursuant to the Government's Decree No. 89/2016/ND-CP dated July 1, 2016 on requirements for operation of currency exchange agencies, foreign currency receipt and payment services provided by business entities;
Pursuant to the Government's Decree No. 23/2023/ND-CP dated May 12, 2023 on amendments to the Government's Decree No. 89/2016/ND-CP dated July 1, 2016 defining requirements for operation of currency exchange agencies, foreign currency receipt and payment services provided by business entities and Decree No. 88/2019/CP-CP dated November 14, 2019 of the Government on penalties for administrative violations in the field of currency and banking;
Pursuant to the Government’s Decree No. 96/2022/ND-CP dated December 12, 2022 defining the functions, tasks, powers and organizational structure of the State Bank of Vietnam;
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The Governor of the State Bank of Vietnam promulgates a Circular on operation of currency exchange agencies specializing in bordering-country currencies (hereinafter referred to as bordering exchange agencies).
Article 1. Scope
This Circular provides for operation of bordering exchange agencies, operation of business entities acting as bordering exchange agencies for authorized credit institutions.
Article 2. Regulated entities
1. Business entities acting as bordering exchange agencies.
2. Credit institutions that authorize business entities to act as bordering exchange agencies.
3. Other organizations and individuals involved in operation of bordering exchange agencies.
Article 3. Operation of bordering exchange agencies
1. Bordering exchange agencies may only use Vietnamese dong to buy cash of bordering countries, except for the case specified in Clause 2 of this Article.
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3. An business entity may agree with an authorized credit institution, in a contract of bordering exchange agency, to set up bordering exchange agencies at one or more locations in the land border areas or border-checkpoint economic zones in the area where the business entity has its head office or branch.
Article 4. Sale of money of bordering countries to foreign individuals upon exit
At an international checkpoint or main checkpoint, a bordering exchange agency located in the exit waiting area may sell cash of bordering countries to individuals who have completed their exit procedures according to the following regulations:
1. In case of selling currency of a bordering country with an equivalent value of VND 20,000,000 (Twenty million Vietnamese dong) or less, the bordering exchange agency shall request the individuals to present their exit documents in accordance with the law on exit of foreigners.
2. In case of redeeming currency of a bordering country with a value equivalent to over VND 20,000,000 (Twenty million Vietnamese dong) to an individual who has exchanged money of that bordering country, the currency exchange agency shall require that individual to present exit documents in accordance with the law on exit of foreigners, the bill (receipt) of currency exchange with the stamp of an authorized credit institution or a bordering exchange agency. A bill (receipt) of currency exchange is only valid for individuals to use to redeem money of the bordering country within 90 days from the date indicated on the bill (receipt). The bordering exchange agency must confiscate that bill (receipt) of currency exchange.
The amount of money of the bordering country can only be redeemed up to exchanged amount stated on the bill (receipt).
Article 5. Time limit for sale of bordering currencies and required cash balance
1. The bordering exchange agency must sell all the bordering country cash (apart from the withholdable cash balance) to the authorized credit institution at the end of each working day. If the bordering exchange agency is located far from the authorized credit institution and travel is difficult, the authorized credit institution may agree with the business entity on a longer time limit for sale of the bordering currency, but not more than 7 working days.
2. Bordering exchange agencies may maintain a daily cash balance of a bordering currency up to VND 40,000,000 (Forty million Vietnamese dong) for bordering currency exchange, under an agreement between the authorized credit institution and the business entity. If the bordering exchange agency needs to increase the cash balance, they must follow the legal procedures to revise the certificate of registration of the bordering exchange agency.
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1. Bordering exchange agencies must publicly quote the buying rate of bordering currency in cash with Vietnam dong at the location where the bordering exchange agency is located. They must buy the bordering currency from customers according to the quoted exchange rate. Bordering exchange agencies located at exit waiting areas at international checkpoints or main checkpoints must also publicly quote the buying and selling rates of bordering cash with Vietnam dong, and then buy and sell the bordering currency from/to customers at the quoted exchange rates.
2. The buying and selling rates of the bordering currency between the authorized credit institution and the bordering exchange agency must comply with the agreement on bordering exchange agency between the authorized credit institution and the business entity acting as bordering exchange agency, in accordance with current regulations on foreign exchange management.
3. Record purchase and sale invoices of bordering currencies, update accounting data and books according to the instructions of the authorized credit institution, in accordance with the applicable accounting and accounting regimes. A bordering exchange agency of an authorized credit institution must use the invoice of that authorized credit institution. When exchanging a bordering currency, the agency must give a copy of the invoice to the customer.
4. Bordering exchange agencies must strictly comply with agreements on bordering exchange agency contracts signed with authorized credit institutions and legal regulations on exchange of bordering currencies; they must also comply with the law on prevention and control of money laundering.
5. In the course of operation, when detecting that a customer uses fake or invalid bordering currencies as a means of trading, the agency must make a record and temporarily seize the amount and notify the competent agency for investigation and sanctions.
6. Bordering exchange agencies must implement the periodical reporting as prescribed in Clause 1, Article 9 of this Circular.
Article 7. Responsibilities of authorized credit institutions
1. The authorized credit institution shall, based on the business entity's need to expand the bordering exchange network and the eligibility to act as a bordering exchange agency of a bordering country, consider signing a bordering exchange agency contract.
2. Hold short-term training courses on recognition skills of bordering currencies, how to make invoices, make accounting book entries, skills to make reports in accordance with laws on prevention and control of money laundering, and issue certificates to employees of bordering exchange agencies after completing training courses.
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4. Inspect, examine and supervise operation of bordering exchange agencies under their authorization. If a bordering exchange agency is found to be in violation of a bordering exchange agency contract or the law on bordering exchange activities, the authorized credit institution will take legal action against the violation in accordance with the contract.
5. In case of termination of the bordering exchange agency contract, within 10 working days from the date of contract termination, the authorized credit institution must send a written notice to the State Bank branch in the bordering province.
Article 8. Responsibilities of the State Bank branches in bordering provinces
1. Issue, re-issue, revise, extend and revoke certificates of registration of bordering exchange agency of business entities in accordance with law.
2. Instruct authorized credit institutions and business entities acting as bordering exchange agencies in the provinces to comply with this Circular and relevant laws.
3. Send periodical reports as prescribed in Clause 2, Article 9 of this Circular or or ad-hoc reports at the request of the Governor of the State Bank of Vietnam on operation of bordering exchange agencies in the provinces.
4. Inspect, examine and supervise operation of bordering exchange agencies in the provinces. If the State Bank's branch of the bordering province detects any violations of the certificate of registration of bordering exchange agencies or the law on bordering currency exchange activities, it shall take legal action in accordance with the law.
Article 9. Reporting
1. Business entities acting as bordering exchange agencies must submit written reports, in person or by post, to the State Bank branches in bordering provinces where the agencies are located. The reports must be submitted quarterly, before the first day of the first month of the next quarter. The reports must be on the operation of bordering exchange agencies in the quarter, and they must be submitted in the form of Appendix 01 issued with this Circular. The report data must be closed from the 15th day of the month preceding the reporting period to the 14th day of the last month of the quarter in the reporting period.
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Article 10. Implementation
1. This Circular comes into force as of August 1, 2023.
2. The Chief of Office, the Director of the Foreign Exchange Management Department, the heads of relevant units affiliated to the State Bank of Vietnam, authorized credit institutions, relevant organizations and individuals shall implement this Circular./.
PP. GOVERNOR
DEPUTY GOVERNOR
Pham Thanh Ha