From March 01, 2014, Decree 222/ND-CP dated December 31, 2013 on cash payments and state management of the cash payments in a number of transactions in Vietnam territory officially takes effect, the State Bank of Vietnam (SBV) says.
This Decree replaces Decree 161/ND-CP dated December 28, 2006 on cash payments.
Accordingly, organizations using state funds shall not pay cash in transactions, except in cases permitted for cash payment as stipulated by the Ministry of Finance or of the SBV.
For securities transactions, organizations and individuals shall not pay cash in securities transactions on stock exchanges and securities transactions registered, deposited in securities depository centers outside the trading system of the stock exchanges.
Businesses shall not pay cash in capital contribution, capital contribution sale, purchase and transfer transactions. Businesses which are not credit institutions shall not use cash in borrowing and lending to each other. When disbursing loans to customers in cash, credit institutions must comply with the regulations of the SBV.