PROCEDURES FOR APPROVAL OF THE IMPORT AND EXPORT OF FOREIGN-CURRENCY CASH
On December 14, 2020, the State Bank of Vietnam promulgates the Circular No. 17/2020/TT-NHNN amending and supplementing a number of articles of the Circular No. 33/2013/TT-NHNN dated December 26, 2013 of the Governor of the State Bank of Vietnam guiding procedures for approval of the import and export of foreign-currency cash of licensed banks.
Accordingly, the State Bank of Vietnam details order, procedures for approval of the import, export of foreign-currency cash as follows:
Upon need for import, export of foreign-currency cash, the licensed bank shall make and send 01 dossier as prescribed to the State Bank - Hanoi Branch or the State Bank - Ho Chi Minh City Branch.
Within 02 working days from the date of receiving a complete and valid dossier as prescribed, the State Bank - Hanoi Branch or the State Bank - Ho Chi Minh City Branch shall consider and approve the import, export of foreign-currency cash of the licensed bank, using the Form in this Circular and send it to the licensed bank according to regulations.
In case the dossier is not complete and valid, the State Bank - Hanoi Branch or the State Bank - Ho Chi Minh City Branch shall notify on the Vietnam National Single-Window portal or send a notice to the licensed bank, clearly stating reasons.
This Circular takes effect on February 01, 2021.
