All collections and expenditures of foreign currencies of the State Bank of Vietnam shall be conducted through its funds

According to Article 7 of Circular No. 01/2014/TT-NHNN of the State Bank of Vietnam, the collection and expenditure of cash, foreign currencies and valuable papers shall comply with the following principles:

- All collections and expenditures of cash, foreign currencies and valuable papers of the State Bank, credit institutions, foreign banks’ branches shall be conducted through its funds.

- The collection and expenditure of cash, foreign currencies and valuable papers shall be based on account documents. Before collection or payment, it is required to check the validity and authenticity of account documents.

- Cash, foreign currencies or valuable papers which are collected or paid must be enough and correct with the total amounts (in numbers and in words), be coincident in time (date, month, year) on account documents, account books or cash books. After collecting and before paying cash, account documents must have signatures of the submitting persons (or the receiver of money) and the cashier or the vault keeper or staff who collects or pays cash.

Moreover, every account document for the collection (or payment) of cash, foreign currencies or valuable papers, is required to be accompanied by a statement of types of money collected (or paid) or a minute on delivery and receipt. The statement, the minute on delivery and receipt shall be preserved as prescribed.

View other provisions at Circular No. 01/2014/TT-NHNN of the State Bank of Vietnam, effective from February 20, 2014.

Thu Ba

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