On Sep. 25, 2026, VIE CB said VIE GVT issued Circular 48/2026/TT-NHNN, finalizing amendments to Circular 26/2021/TT-NHNN largely as proposed.
A force majeure exemption and a new registration-change form (Appendix 4) are added; article 3 of Circular 12/2023/TT-NHNN is repealed.
The circular takes effect Nov. 9, 2026.
Document dated Sep. 25, 2026, received from VIE CB Sep. 28, summarized Sep. 30.
On Aug. 13, VIE CB proposed amendments to forex transaction rules.
VIE CB sought comment on draft amendments to Cir 26/2021/TT-NHNN governing foreign-exchange transactions between VIE CB and authorized credit institutions.
The draft would update the Circular to reflect amended laws, decrees, and VIE CB's new functions, powers, responsibilities, and organizational structure.
Follows VIE CB Mar. 2021 issued instructions for credit institutions, see #101982.
Proposal
The draft would update the framework for amended laws and VIE CB’s new organizational structure, while simplifying procedures by allowing online applications, removing two application documents.
Plus aligning with the reduction in processing time from seven to four working days.
The amendment would define "late payment", and remove the word “maximum” from the provision referring to a 150% rate.
Additionally, it would replace the refinancing rate with VIE CB’s overnight lending rate in interbank electronic payments, and add provisions for force majeure events.
VIE CB plans to remove the specific suspension provision for failure to update registered information, although institutions would remain responsible for updates and VIE CB would not transact where necessary information is not current.
Registration forms would be separated between initial establishment and subsequent information changes, while institutions would provide only one standard settlement instruction for USD and VND to reduce operational risk.
The draft would strengthen authorization controls for forex transaction requests and clarify VIE CB units’ responsibilities for late VND payments, licensing updates, and license revocations.
Effectiveness
Comment period for the consultation closes on Aug. 24, 2026.
Sep. 9, 2026 Comments Received
On Sep. 9, 2026, VIE CB published a summary of the comments received and its responses.
Document dated Sep. 9, 2026, received from VIE CB Sep. 11, summarized Sep. 14.
Sep. 25, 2026 VIE GVT Circular Issued
On Sep. 25, 2026, VIE CB said VIE GVT issued Circular 48/2026/TT-NHNN, finalizing amendments to Circular 26/2021/TT-NHNN largely as proposed.
A force majeure exemption and a new registration-change form (Appendix 4) are added; article 3 of Circular 12/2023/TT-NHNN is repealed.
The circular takes effect Nov. 9, 2026.
Document dated Sep. 25, 2026, received from VIE CB Sep. 28, summarized Sep. 30.
