1. LEGAL DOCUMENTS ARE ISSUED IN 05/2024
1.1. Circular No. 02/2024/TT-NHNN amending and supplementing a number of articles of Circular No. 17/2016/TT-NHNN dated June 30, 2016 of the Governor of the State Bank of Vietnam on money brokerage operations of commercial banks and branches of foreign banks
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Name of legal document: Circular No. 15/2023/TT-NHNN issued on 05/12/2023 by the State Bank of Vietnam regulating credit information activities of the State Bank of Vietnam (referred to as the “Circular No. 02/2024/TT-NHNN”).
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Effective date: 01/01/2025.
The content should be noted:
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Firstly, amending and supplementing regulations on interpretation of the term “Money brokerage”.
Specifically, Clause 2 of Article 1 of Circular No. 02/2024/TT-NHNN stipulates: “Article 1. Amending and supplementing a number of articles of Circular No. 17/2016/TT-NHNN
…2. Amend and supplement Clause 1, Article 3 as follows:
“1. Money brokerage is an intermediary job with a brokerage fee to arrange the implementation of banking activities and other business activities according to the provisions of the Law on Credit Institutions between credit institutions and branches of foreign banks.””
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Secondly, amending and supplementing regulations on scope of brokerage.
Specifically, Clause 3 of Article 1 of Circular No. 02/2024/TT-NHNN stipulates: “Article 1. Amending and supplementing a number of articles of Circular No. 17/2016/TT-NHNN
…3. Amend and supplement Article 5 as follows:
“Article 5. Scope of currency brokerage
Commercial banks and foreign bank branches are allowed to provide currency brokerage services to customers to carry out banking activities and other business activities specified in the Law on Credit Institutions.””
