Circular No. 23/2022/TT-NHNN dated December 30th, 2022 of the State Bank on providing amendments to legislative documents for division of authority to handle administrative procedures related to foreign exchange management

This Circular amends Circular No. 21/2014/TT-NHNN to allocate the authority to Directors of the State Bank of Vietnam’s provincial branches to grant or extend approval of foreign exchange operations to foreign bank branches that are located in their managing provinces or cities

However, with regard to foreign bank branches that are subject to the microprudential supervision by the Banking Supervision Agency, the authority to grant or extend approval of foreign exchange operations still belongs to the Governor of the State Bank of Vietnam.

In addition, this Circular also amend Decision No. 17/2004/QD-NHNN in relation to regulations on making payment for goods or commercial services sold or supplied in border areas by Vietnamese traders to Cambodian traders.

To replace Article 3 of Circular No. 29/2015/TT-NHNN dated December 22, 2015; Clauses 18, 19 Article 1, Clause 1 Article 2 of the Circular No. 28/2016/TT-NHNN dated October 05, 2016.