THE STATE BANK
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SOCIALIST REPUBLIC OF VIET NAM
Independence - Freedom - Happiness
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No: 878/2002/QD-NHNN
Hanoi, August 19, 2002
 DECISION
AMENDING AND SUPPLEMENTING A NUMBER OF POINTS OF THE STATE BANK’S CIRCULAR NO. 02/2000/TT-NHNN OF FEBRUARY 24, 2000 GUIDING THE IMPLEMENTATION OF THE PRIME MINISTER’S DECISION NO. 170/1999/QD-TTg OF AUGUST 19, 1999
THE STATE BANK GOVERNOR
Pursuant to the Law on the State Bank and the Law on Credit Institutions of December 12, 1997;
Pursuant to the Government’s Decree No. 15/CP of March 2, 1993 on the tasks, powers and State management responsibilities of the ministries and ministerial-level agencies;
Pursuant to the Prime Minister’s Decision No. 170/1999/QD-TTg of August 19, 1999 on encouraging overseas Vietnamese to transfer money back to the country;
Pursuant to the Prime Minister’s Decision No. 78/2002/QD-TTg of June 17, 2002 amending and supplementing Decision No. 170/1999/QD-TTg of August 19, 1999 on encouraging overseas Vietnamese to transfer money back to the country;
At the proposal of the Director of the Foreign Exchange Management Department,
DECIDES:
Article 1.- To amend and supplement a number of points in Circular No. 02/2000/TT-NHNN of February 24, 2000 of the State Bank guiding the implementation of the Prime Minister’s Decision No. 170/1999/QD-TTg of August 19, 1999 on encouraging overseas Vietnamese to transfer money back to the country as follows:
1. To add Points 5, 6 and 7 to Section II as follows:
"5. For credit institutions acting as agents for economic organizations licensed to provide the foreign currency reception and delivery services:
a) Credit institutions (including credit institutions licensed to conduct foreign exchange activities and credit institutions not licensed to conduct foreign exchange activities) shall be allowed to act as foreign currency-delivering agents for economic organizations which are licensed by the State Bank to provide foreign currency reception and delivery services on the basis of the agency contracts signed between the economic organizations and the credit institutions;
b) If the credit institutions and the economic organizations agree that the credit institutions shall advance their money for delivery to the beneficiaries, the economic organizations shall have to open deposit accounts at the credit institutions acting as their agents. The maximum advances shall be equal to the amounts deposited at the credit institutions.