The State Bank of Vietnam (SBV) issued Document No. 5455/NHNN-TTGSNH on July 12, 2017 to permit the Joint Stock Commercial Bank for Foreign Trade of Vietnam (VCB) to establish the Cash Processing Center.
Accordingly, the SBV Governor approved the establishment of the Cash Processing Center of the VCB upon its request in Document No. 1302/VCB-TCCB dated December 14, 2016.
The SBV required VCB to be responsible for implementing following requirements: implementing procedures of inaugurating the newly-established cash processing center and reporting in line with Circular No. 21/2013/TT-NHNN dated September 9, 2013 on operational network of commercial banks and other relevant regulations.
VCB is required to inaugurate its Cash Processing Center within 12 months from the date of signing this Document. Beyond this period, this Document will cease to be effective.
Le Hang