Provisions on responsibilities of the Issue and Vault Department of Vietnam according to Circular 07

Provisions on responsibilities of the Issue and Vault Department of Vietnam according to Circular 07​ (Illustration)

In Article 9 of Circular 07/2020/TT-NHNN, the responsibilities of the Department of Issuance and Treasury are clearly defined. To be specific:

- Coordinate with the Finance - Accounting Department during the appraisal process of investment projects and procurement of goods serving the activities of printing and minting money, under the approval authority of the Governor of the State Bank of Vietnam (SBV).

- Act as the main unit to submit to the Governor of SBV the guideline for permitting the procurement of goods in case new requirements arise outside the procurement plan according to Clause 1, Article 6 of this Circular. If necessary, the Department of Issuance and Treasury collaborates to collect opinions from related units under SBV on the proposal for procuring goods from printing and minting establishments before submitting it to the Governor of SBV for consideration and approval. Based on the Governor’s approval, the Department of Issuance and Treasury will notify the printing and minting establishment for implementation.

- Execute the authorization of the Governor of SBV, the Director of the Department of Issuance and Treasury to issue documentation confirming that the printing and minting establishment imports goods to serve the printing and minting activities of SBV according to the purchase agreement or other contractual forms between the printing and minting establishment and the goods supplier.- Inspect and monitor the implementation of the procurement plan for goods serving the activities of printing and minting money at printing and minting establishments.

- Track the progress of the procurement plan for goods serving the activities of printing and minting money at the unit undertaking the procurement and investment in goods.

- If necessary, submit to the Governor of SBV to organize the inspection of technical specifications of materials and supplies serving the printing and minting operations at printing and minting establishments.

Additionally, this Circular also stipulates the responsibilities of the Finance - Accounting Department and the Internal Audit Department as follows:

- Responsibilities of the Finance - Accounting Department:

• Take the lead in appraising and submitting to the Governor of SBV for approval of investment policies, investment decisions on projects, and procurement of goods serving the activities of printing and minting money which fall under the Governor’s approval authority.
• When necessary, the Finance - Accounting Department will submit to the Governor of SBV to assign relevant units under SBV to coordinate in the appraisal or invite specialized agencies from other Ministries and sectors to participate in the appraisal of the projects.

- Responsibilities of the Internal Audit Department:

Counsel and assist the Governor of SBV in supervising and inspecting the printing and minting establishments; units undertaking the procurement and investment in goods, and related units under SBV in the procurement of goods serving the activities of printing and minting money, in accordance with relevant legal regulations.

For details, refer to the Circular 07/2020/TT-NHNN effective from August 14, 2020.

Ty Na

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