SBV requires credit institutions to meet personal foreign exchange demand

The State Bank of Vietnam (SBV) issued Document No.2033/NHNN-QLNH to require the General Directors (Directors) of credit institutions with forex service license to guide their entities in foreign currency trading and foreign exchange and gold ownership by individuals.

Accordingly, the General Directors (Directors) of credit institutions with forex service license are requested to instruct their own entities to promote issuance of international payment cards with the aim of facilitating cardholders to make their necessary settlement abroad.

Moreover, credit institutions with forex service license should sell foreign cash to meet proper demand of individuals in their overseas business trips, study, and medical treatment… in accordance with law.

Diem Hang

sbv

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