THE STATE BANK OF VIETNAM
SOCIALIST REPUBLIC OF VIETNAM
Hanoi, July 28, 2006
ON THE AMENDMENT, SUPPLEMENT OF PARAGRAPH 1, ARTICLE 1 OF THE DECISION NO. 1014/2005/QD-NHNN DATED 11/7/2005 OF THE GOVERNOR OF THE STATE BANK ON THE AMENDMENT, SUPPLEMENT OF SEVERAL ARTICLES OF THE TECHNICAL PROCESS OF ELECTRONIC MONEY TRANSFER OPERATION IN THE STATE BANK SYSTEM ISSUED IN CONJUNCTION WITH THE DECISION NO.134/2000/QD-NHNN2 DATED 18 APRIL 2000 BY THE GOVERNOR OF THE STATE BANK
THE GOVERNOR OF THE STATE BANK
- Pursuant to the Law on the State Bank of Vietnam issued in 1997 and the Law on the amendment, supplement of several Articles of the Law on the State Bank of Vietnam in 2003;
- Pursuant to the Law on Credit Institutions issued in 1997 and the Law on the amendment, supplement of several Articles of the Law on Credit Institutions in 2004;
- Pursuant to the Decree No. 52/2003/ND-CP dated 19 May 2003 of the Government providing for the function, assignment, authority and organizational structure of the State Bank of Vietnam;
- Pursuant to the Decree No. 64/2001/ND-CP dated 20 September 2001 of the Government on the payment activities through payment service suppliers;
Upon the proposal of the Head of the Payment Board,
Article 1. To amend, supplement Paragraph 1, Article 1 of the Decision No. 1014/2005/QD-NHNN dated 11/7/2005 of the Governor of the State Bank on the amendment, supplement of several articles of the technical Process of electronic money transfer operation in the State Bank system issued in conjunction with the Decision No.134/2000/QD-NHNN2 dated 18 April 2000 by the Governor of the State Bank as follows:
“1. The cut-off time applicable to electronic money transfer shall be provided for as follows:
a. For the State Bank A (Bank A):
- In respect of the processing of daily out-going transfer orders of the Bank A: only dealing with the outgoing transfer orders until 16pm, except for annual settlement days and cases with technical, communication breakdown or other objective reasons, specifically as follows:
+ All the money transfer vouchers received from 11h30’ backwards and money transfer vouchers with high value and urgent money transfer vouchers shall be processed for money transfer to the State Bank B (Bank B) within the same day, except for cases with technical, communication breakdown or other objective reasons that make the processing unable to be made within the day;
+ Money transfer vouchers received after 11h30’ till 15h45’ shall be continuously processed for money transfer to the Bank B within the same day or till the following working day;
+ In case of technical, communication breakdown or huge quantity of vouchers arising by the end of transaction hours, money transfer units shall be permitted to request the Accounting - Finance Department to prolong the time for money transfer of the system (by phone, or by other forms if it is agreed upon by the parties) to continue the processing of payment vouchers already received in the day, but the prolonged time shall not be in excess of 15 minutes from the cut-off time for money transfer.
b. The cut-off time for the receipt of incoming transfer orders by the Accounting -Finance Department from Banks A shall fall on 16pm and the cut-off time for the delivery of the outgoing transfer orders to Banks B shall fall on 16.15pm
c. From 16.15pm, the Accounting - Finance Department and electronic money transfer units shall reconcile and verify the incoming and outgoing transfer data within a day. After completing the reconciliation and verification with the Accounting - Finance Department, the electronic money transfer units shall be considered as having completed all the works in the day, except for case with technical, communication breakdown that makes the reconciliation and verification uncompleted in the day, then the reconciliation, verification shall be performed in the morning of the following working day.
d. The Head of Payment Board shall be responsible for providing guidance on the application of the cut-off time in electronic money transfer of the State Bank system during annual settlement days, and in case where the technical, communication breakdown arises or in case of other objective reasons, but the asset security and sufficient and timely implementation of the control and reconciliation of the money transfer in accordance with stipulated regime must be ensured.
dd. The electronic money transfer is a work, which is urgent and is not permitted to delay. Electronic money transfer units and the Accounting - Finance Department should regularly arrange personnel to receive, process money transfer orders and ensure the smooth and safe operation of the system. Officers, civil servants of the State Bank who are in charge of accounting, payment, informatics shall be assigned the task of running, supervising, controlling the electronic money transfer system, be entitled to enjoy a regime on working overtime not in excess of 300 hours in a year and other fostering regimes in accordance with current provisions.”
Article 2. This Decision shall be effective after 15 days since its publication in the Official Gazette.
FOR THE GOVERNOR OF THE STATE BANK OF VIETNAM
Nguyen Dong Tien