TITLE: Vietnam State Bank Amends Currency Brokerage Activity Regulations for Commercial Banks
BODY:
On May 6, 2026, Vietnam's State Bank (Ngân hàng Nhà nước Cộng Hòa Xã Hội Chủ Nghĩa Việt Nam) issued Circular 07/2026/TT-NHNN, amending and supplementing provisions of Circular 17/2016/TT-NHNN governing currency brokerage activities conducted by commercial banks and foreign bank branches operating in Vietnam.
The circular modifies internal governance requirements for currency brokerage operations. Commercial banks and foreign bank branches must now establish internal regulations covering currency brokerage activities that include: procedures and processes for executing currency brokerage; scope of responsibility and authority for personnel involved in currency brokerage operations; and risk management frameworks specific to currency brokerage activities. Banks must submit newly issued, amended, supplemented, or replaced internal regulations to the State Bank within ten days of implementation, either directly or by post. Submissions should be directed to the State Bank's Credit Institution Management and Supervision Department or relevant regional State Bank branches.
The circular clarifies supervisory responsibilities, designating the State Bank's Inspection Department, Credit Institution Management and Supervision Department, and regional State Bank branches as responsible for monitoring, inspecting, and enforcing compliance with the circular's provisions. Unit heads within the State Bank, credit institutions, and foreign bank branches bear responsibility for implementing the circular's requirements.
The circular takes effect on June 20, 2026. The amendment is issued under the authority of Vietnam's Law on the State Bank (46/2010/QH12), the Law on Credit Institutions (32/2024/QH15), and Decree 26/2025/NĐ-CP, which defines the State Bank's functions, duties, powers, and organizational structure.