The State Bank         The Socialist Republic of Vietnam
 of Vietnam              Independence-freedom-Happiness.
No. 48/QD-NH7                 htmlhtmlhtml----
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                             Hanoi, february 23rd, 1995.

DECISION Of THE GOVERNOR Of THE STATE BANK Of VIETNAM ON fOREIGN CURRENCY REMITTANCE TO VIETNAM BY OVERSEA VIETNAMESE PEOPLE

The Governor of the State Bank

- Based on the Ordinance of the State Bank of Vietnam promulgated in Order No.37/HDNN8 dated May 24th, 1990 of the Chairman of the State Council,

- Based on the Statute on foreign currency management promulgated in attachment with Decree No.161/HDBT dated October 18th, 1988 of the Council of Ministers (now the Government).

DECIDES

Article 1

The State Bank encourages and provides all favourable conditions for Vietnamese people resided abroad, Vietnamese people working, studying abroad (hereinafter referred to as oversea Vietnamese people) to remit foreign currency to Vietnam to help their fam ilies, relatives or to contribute to the construction of the country.

Article 2

Oversea Vietnamese people having foreign currency remitted to Vietnam are entitled to open foreign currency account, saving foreign currency account at banks in Vietnam, which are entitled to deal with foreign currency according to the current regulations ; to remit the principal and gained interest to foreign countries.

Article 3

Vietnamese people in Vietnam receiving foreign currency from oversea Vietnamese people are entitled to open foreign currency account, saving foreign currency account at banks permitted to deal with foreign currency.

foreign currency kept in account or saving account can be taken out in form of foreign currency (in cash) or exchanged into Vietnamese Dong according to the requirement of the owner.

Article 4

This Decision comes into force from the signing date.

The Head of the State Bank's Office, Head of Department of foreign Currency Management, Head of concerning departments, bureaus of the State Bank, General Directors of Commercial Banks, Bank for Investment and Development, Directors of branches of the St ate Bank in provinces, cities belonged to the central are responsible for the implementation of this decision.

for the State Bank of Vietnam Deputy Governor

LE VAN CHAU