Press release on issuance of Circular No.21/2020/TT-NHNN
Hanoi, December 31, 2020. The Governor of the State Bank of Vietnam (SBV) has issued Circular No. 21/2020/TT-NHNN amending and supplementing a number of articles of Circular No.37/2016/TT-NHNN dated December 30, 2016 of the SBV Governor providing for the management, operation and the utilization of the National Inter-bank Electronic Payment System (Circular 37).
The new Circular is aimed to amend a number of provisions of Circular 37 in order to be in line with the practical situations of the Inter-bank Payment System after the SBV had finalized the establishment and put the Inter-bank Payment System into operations within the scope of the Project “Supplementing several payment services and centralizing the Inter-bank Electronic Payment System” (IBPS 2.5). Moreover, implementing the task of “studying, assessing the operational time of the Inter-bank Payment System, thereby adjusting the operational time of the Payment system close to the practical situations, meeting the increasingly high demand for payments from the economy” as stipulated in the Plan of Action to implement Resolution No.01/NQ-CP, Resolution No.02/NQ-CP in 2020 of the Government (as enclosed to Directive No.01/CT-NHNN dated January 3, 2020), the SBV had conducted a survey to collect comments from the members of the Inter-bank Payment System, and based on the survey results and the feedbacks of the members of the Inter-bank Electronic Payment System, the SBV has formulated this new Circular.
The new Circular is composed of 4 Articles and 8 Templates, and shall take effect from April 1, 2021.
Translated by Le Hang