xem bóng đá trực tiếp vtv2Circular 18/2024/TT-NHNN stipulating regulations on banking card activities

What are xem bóng đá trực tiếp vtv2 duties and powers of xem bóng đá trực tiếp vtv2 State Bank of Vietnam?

Pursuant to Article 4 of xem bóng đá trực tiếp vtv2 Law on xem bóng đá trực tiếp vtv2 State Bank of Vietnam 2010, xem bóng đá trực tiếp vtv2 duties and powers of xem bóng đá trực tiếp vtv2 State Bank include:

- xem bóng đá trực tiếp vtv2 activities of xem bóng đá trực tiếp vtv2 State Bank aim to stabilize xem bóng đá trực tiếp vtv2 value of xem bóng đá trực tiếp vtv2 currency; ensure xem bóng đá trực tiếp vtv2 safety of banking operations and xem bóng đá trực tiếp vtv2 system of credit institutions; ensure xem bóng đá trực tiếp vtv2 safety and efficiency of xem bóng đá trực tiếp vtv2 national payment system; contribute to promoting socio-economic development in accordance with socialist orientation.

- Participate in formulating xem bóng đá trực tiếp vtv2 country's socio-economic development strategies and plans.

- Develop a strategy for xem bóng đá trực tiếp vtv2 development of xem bóng đá trực tiếp vtv2 banking sector, submit it to competent state agencies for approval, and organize implementation.

- Issuing or submitting to competent state agencies for xem bóng đá trực tiếp vtv2 issuance of legal documents on currency and banking; propagating, disseminating, and inspecting in accordance with xem bóng đá trực tiếp vtv2 law's authority xem bóng đá trực tiếp vtv2 legal documents on currency and banking.

- Develop annual inflation targets for xem bóng đá trực tiếp vtv2 Government to present to xem bóng đá trực tiếp vtv2 National Assembly for decision and organization of implementation.

- Organize, operate, and develop xem bóng đá trực tiếp vtv2 money market.

- Establish a system for statistical reporting and forecasting regarding currency and banking; disclose information about currency and banking as per legal regulations.

- Organize printing, minting, storage, and transportation of paper money and coins; perform xem bóng đá trực tiếp vtv2 issuance, withdrawal, replacement, and destruction of paper money and coins.

- Grant, modify, supplement, and revoke licenses for xem bóng đá trực tiếp vtv2 establishment and operation of credit institutions, foreign bank branches, representative offices of foreign credit institutions, and other foreign organizations conducting banking activities;

Issue and revoke licenses for providing intermediary payment services to non-banking organizations;

Issue and revoke licenses for providing credit information services to organizations;

Approve xem bóng đá trực tiếp vtv2 purchase, sale, division, separation, consolidation, merger, and dissolution of credit institutions in accordance with xem bóng đá trực tiếp vtv2 law.

- Represent xem bóng đá trực tiếp vtv2 State’s ownership in enterprises performing xem bóng đá trực tiếp vtv2 State Bank’s functions, and credit institutions with state capital in accordance with xem bóng đá trực tiếp vtv2 law; use statutory capital to contribute to xem bóng đá trực tiếp vtv2 establishment of special enterprises to perform xem bóng đá trực tiếp vtv2 State Bank’s functions as decided by xem bóng đá trực tiếp vtv2 Prime Minister.

- Inspect, examine, and supervise banks; handle violations of xem bóng đá trực tiếp vtv2 law on currency and banking as per legal regulations.

- Decide on xem bóng đá trực tiếp vtv2 application of special remedial measures for credit institutions that seriously violate xem bóng đá trực tiếp vtv2 law on currency and banking, face financial difficulties, and pose risks to xem bóng đá trực tiếp vtv2 safety of xem bóng đá trực tiếp vtv2 banking system, including buying shares of credit institutions; suspend or dismiss executives of credit institutions; decide on xem bóng đá trực tiếp vtv2 consolidation, merger, and dissolution of credit institutions; place credit institutions under special control; perform duties and powers in accordance with xem bóng đá trực tiếp vtv2 law on bankruptcy of credit institutions.

- Lead and cooperate with relevant agencies to develop policies, plans, and organize xem bóng đá trực tiếp vtv2 implementation of anti-money laundering measures.

- Implement state management of deposit insurance as per xem bóng đá trực tiếp vtv2 law on deposit insurance.

- Lead xem bóng đá trực tiếp vtv2 preparation, monitoring, forecasting, and analysis of xem bóng đá trực tiếp vtv2 execution results of xem bóng đá trực tiếp vtv2 international balance of payments.

- Organize, manage, and supervise xem bóng đá trực tiếp vtv2 national payment system, provide payment services for banks; participate in organizing and supervising xem bóng đá trực tiếp vtv2 operation of payment systems in xem bóng đá trực tiếp vtv2 economy.

- Manage state foreign exchange reserves, foreign exchange activities, and gold trading activities.

- Manage xem bóng đá trực tiếp vtv2 borrowing, repayment, lending, and recovery of foreign debts as per legal regulations.

- Lead and cooperate with relevant agencies to prepare content, conduct negotiations, and conclude international agreements with international financial and monetary organizations where xem bóng đá trực tiếp vtv2 State Bank serves as xem bóng đá trực tiếp vtv2 representative, and is xem bóng đá trực tiếp vtv2 official representative borrower per assignment or authorization by xem bóng đá trực tiếp vtv2 President or xem bóng đá trực tiếp vtv2 Government.

- Organize xem bóng đá trực tiếp vtv2 implementation of international cooperation on currency and banking.

- Represent xem bóng đá trực tiếp vtv2 Socialist Republic of Vietnam in international monetary and banking organizations.

- Establish a credit information system and provide credit information services; perform state management functions over organizations conducting credit information activities.

- Act as an agent and provide banking services for xem bóng đá trực tiếp vtv2 State Treasury.

- Collaborate with xem bóng đá trực tiếp vtv2 Ministry of Finance on xem bóng đá trực tiếp vtv2 issuance of government bonds, government-guaranteed bonds.

- Organize training, professional development on currency and banking; research and apply banking science and technology.

Circular 18/2024/TT-NHNN on xem bóng đá trực tiếp vtv2 regulation of bank card activities (Image from xem bóng đá trực tiếp vtv2 Internet)

What are xem bóng đá trực tiếp vtv2 regulations on bank card activities according to Circular 18/2024/TT-NHNN?

On June 28, 2024, xem bóng đá trực tiếp vtv2 Governor of xem bóng đá trực tiếp vtv2 State Bank of Vietnam issued Circular 18/2024/TT-NHNN regulating bank card activities.

Circular 18/2024/TT-NHNN applies to xem bóng đá trực tiếp vtv2 following subjects:

- Card issuing organizations.

- Card payment organizations.

- Organizations providing intermediary payment services.

- Merchant units accepting cards.

- Cardholders.

- Other organizations and individuals involved in card activities.

Circular 18/2024/TT-NHNN officially takes effect from July 1, 2024.

How is a bank card defined? What currency is used in bank card transactions?

According to Clause 1, Article 3 of Circular 18/2024/TT-NHNN, xem bóng đá trực tiếp vtv2 terms are defined as follows:

Definition of Terms

In this Circular, xem bóng đá trực tiếp vtv2 terms below are defined as follows:

1. A bank card is a payment instrument issued by a card issuing organization to conduct card transactions under conditions and terms agreed upon by xem bóng đá trực tiếp vtv2 parties involved.

2. Debit card is a card that allows xem bóng đá trực tiếp vtv2 holder to conduct card transactions within xem bóng đá trực tiếp vtv2 balance and overdraft limit (if any) on xem bóng đá trực tiếp vtv2 payment account opened at xem bóng đá trực tiếp vtv2 card issuing organization.

3. Credit card is a card that allows xem bóng đá trực tiếp vtv2 holder to conduct card transactions within xem bóng đá trực tiếp vtv2 credit limit granted per xem bóng đá trực tiếp vtv2 agreement with xem bóng đá trực tiếp vtv2 card issuing organization.

....

A bank card is a payment instrument issued by a card issuing organization for conducting card transactions under agreed-upon conditions and terms.

Additionally, according to Article 4 of Circular 18/2024/TT-NHNN, xem bóng đá trực tiếp vtv2 currency used in bank card transactions is regulated as follows:

Currency Used in Card Transactions

1. Within xem bóng đá trực tiếp vtv2 territory of Vietnam:

a) Cash withdrawal transactions using cards must be conducted in Vietnamese Dong (VND);

b) For other card transactions:

(i) xem bóng đá trực tiếp vtv2 transaction currency is Vietnamese Dong (VND). In cases where foreign exchange can be used according to foreign exchange management laws, xem bóng đá trực tiếp vtv2 transaction currency can be Vietnamese Dong (VND) or both Vietnamese Dong (VND) and foreign currency;

(ii) xem bóng đá trực tiếp vtv2 payment currency is Vietnamese Dong (VND). Merchant units are only allowed to receive payments in Vietnamese Dong (VND) from intermediary payment service providers;

c) When conversion from foreign currency to Vietnamese Dong (VND) is required, xem bóng đá trực tiếp vtv2 exchange rate between Vietnamese Dong (VND) and foreign currency follows xem bóng đá trực tiếp vtv2 rate agreed upon by xem bóng đá trực tiếp vtv2 parties in accordance with regulations from xem bóng đá trực tiếp vtv2 State Bank.

2. Outside xem bóng đá trực tiếp vtv2 territory of Vietnam:

For card transactions conducted outside xem bóng đá trực tiếp vtv2 territory of Vietnam, cardholders must make payments to xem bóng đá trực tiếp vtv2 card issuing organization in Vietnamese Dong (VND) at xem bóng đá trực tiếp vtv2 exchange rate agreed upon by xem bóng đá trực tiếp vtv2 parties in accordance with regulations from xem bóng đá trực tiếp vtv2 State Bank.

Thus, xem bóng đá trực tiếp vtv2 currency used in bank card transactions is as follows:

First: Within xem bóng đá trực tiếp vtv2 territory of Vietnam:

- Cash withdrawal transactions using cards must be conducted in Vietnamese Dong (VND);

- For other card transactions:

- xem bóng đá trực tiếp vtv2 transaction currency is Vietnamese Dong (VND). In cases where foreign exchange can be used according to foreign exchange management laws, xem bóng đá trực tiếp vtv2 transaction currency can be Vietnamese Dong (VND) or both Vietnamese Dong (VND) and foreign currency;

- xem bóng đá trực tiếp vtv2 payment currency is Vietnamese Dong (VND). Merchant units are only allowed to receive payments in Vietnamese Dong (VND) from intermediary payment service providers;

- When conversion from foreign currency to Vietnamese Dong (VND) is required, xem bóng đá trực tiếp vtv2 exchange rate between Vietnamese Dong (VND) and foreign currency follows xem bóng đá trực tiếp vtv2 rate agreed upon by xem bóng đá trực tiếp vtv2 parties in accordance with regulations from xem bóng đá trực tiếp vtv2 State Bank.

Second: Outside xem bóng đá trực tiếp vtv2 territory of Vietnam:

For card transactions conducted outside xem bóng đá trực tiếp vtv2 territory of Vietnam, cardholders must make payments to xem bóng đá trực tiếp vtv2 card issuing organization in Vietnamese Dong (VND) at xem bóng đá trực tiếp vtv2 exchange rate agreed upon by xem bóng đá trực tiếp vtv2 parties in accordance with regulations from xem bóng đá trực tiếp vtv2 State Bank.

Which entities are authorized to issue bank cards?

According to Article 8 of Circular 18/2024/TT-NHNN, xem bóng đá trực tiếp vtv2 entities authorized to issue bank cards include:

Card Issuing Organizations

1. Card issuing organizations include:

a) Commercial banks, cooperative banks, and foreign bank branches authorized to issue cards when card-related services are specified in xem bóng đá trực tiếp vtv2 License issued by xem bóng đá trực tiếp vtv2 State Bank;

b) Policy banks issue cards according to regulations from xem bóng đá trực tiếp vtv2 Government and this Circular;

c) General finance companies and consumer credit finance companies are allowed to issue credit cards when specified in xem bóng đá trực tiếp vtv2 License issued by xem bóng đá trực tiếp vtv2 State Bank.

2. Card issuing organizations must comply with basic standards for domestic chip cards when issuing cards with BIN issued by xem bóng đá trực tiếp vtv2 State Bank.

3. Card issuing organizations must establish internal regulations for card issuance and usage to ensure compliance with this Circular and relevant legal regulations.

4. Card issuing organizations must use BIN issued by xem bóng đá trực tiếp vtv2 State Bank, except for xem bóng đá trực tiếp vtv2 cases specified in Clause 5 of this Article.

5. Card issuing organizations that are authorized to conduct foreign exchange sign agreements with international card organizations (ICOs) to issue cards with BIN issued by ICOs.

6. Card issuing organizations are not allowed to agree with other entities to restrict or prevent xem bóng đá trực tiếp vtv2 issuance of co-branded cards.

Thus, xem bóng đá trực tiếp vtv2 entities authorized to issue bank cards include:

- Commercial banks, cooperative banks, and foreign bank branches authorized to issue cards when card-related services are specified in xem bóng đá trực tiếp vtv2 License issued by xem bóng đá trực tiếp vtv2 State Bank;

- Policy banks issue cards according to regulations from xem bóng đá trực tiếp vtv2 Government;

- General finance companies and consumer credit finance companies are allowed to issue credit cards when specified in xem bóng đá trực tiếp vtv2 License issued by xem bóng đá trực tiếp vtv2 State Bank.