Specifically, organizations funded by the state budget or using state capital (including state budget-funded investors and project management units, organizations eligible for state budget support) are no longer allowed to make cash payments in all transactions, except cases specified by the Ministry of Finance and the State Bank of Vietnam.
Organizations and individuals may not make cash payments for securities transactions on the stock exchanges and transactions in securities registered or deposited in the Vietnam Securities Depository through the trading system of the stock exchanges.
Enterprises may not use cash in making capital contributions or in selling, purchasing or transferring capital contributions. Enterprises other than credit institutions may not use cash in providing and borrowing loans.
Credit institutions and foreign bank branches may reach agreement with their clients on cash withdrawal plans and prior notification of withdrawal of cash in large amounts.
Cash withdrawals made at the State Treasury must be registered in accordance with the Ministry of Finance's regulations.
The new regulation will take effect on March 1, and replace Decree No. 161/2006/ND-CP of December 28, 2006.-