04 TYPES OF STATE TREASURY’S ACCOUNTS
On August 30, 2019, the Ministry of Finance issues the Circular No. 58/2019/TT-BTC on prescribing the management and use of the State Treasury’s accounts opened at the State Bank of Vietnam and commercial banks.
The State Treasury’s accounts opened at the SBV and commercial banks are demand deposit accounts and include the following types of accounts: General payment account, General specialized collection account, Payment account, Specialized collection account. These account could be opened in State Bank of Vietnam Operations Center, the headquarters of commercial bank systems having carried out bilateral electronic payment with the State Treasury…
In addition, this Circular also regulates that Commercial bank open the Specialized collection account must satisfied the following criteria: having high safety rate according to the ratings of the SBV, having the Core Banking system located in Vietnam, coordinating with the State Treasury in formulating an agreement on the process of organizing the coordination of state budget revenue collection and bilateral electronic payment…
This Circular takes effect on November 01, 2019
