Press Release on issuance of Circular No.02/2019/TT-NHNN
Hanoi, February 28, 2019 – The Governor of the State Bank of Vietnam (SBV) issued Circular No. 02/2019/TT-NHNN amending and supplementing a number of articles of Circular No.23/2014/TT-NHNN providing guidance on the opening and the use of payment accounts at payment service providers (Circular No. 23/2014/TT-NHNN).
The issuance of this new Circular is aimed at stabilizing the use of payment accounts and encouraging the opening and the use of payment accounts, contributing to implementing the Government’s direction on enhancing non-cash payments.
A number of the main substances of the new Circular are as follows:
- Amending the regulations on the subjects for opening payment accounts.
- Stipulating specific substances of a contract for the opening and use of a payment account.
- Abolishing Circular No.32/2016/TT-NHNN dated December 26, 2016 and Circular No.02/2018/TT-NHNN dated February 12, 2018 amending and supplementing a number of articles of Circular No. 32/2016/TT-NHNN.
The Circular takes effect from March 01, 2019.
Translated by Le Hang