Commercial banks to provide casino-related services

Commercial banks will be allowed to trade and provide foreign exchange services related to casinos from October, local media reports.

The information was contained in Circular No10/2017/TT-NHNN on the management of foreign exchange for the casino business, which will come into effect from October 15 this year, Vietnam News reported.

Foreigners and Vietnamese holding foreign passports are able to gamble freely in the country’s casinos, while a decision was taken earlier this year for locals to enter some of the country’s casinos for the first time on a three-year trial basis.

The rules stipulated locals must be 21-years old, or above, and have proof of regular monthly income of VND10 million ($450), or be subject to third degree taxation according to the law on individual income tax.

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