On November 12, 2021, the State Bank of Vietnam (SBV) issued License No. 73/GP-NHNN on the establishment and operations of the Mirae Asset Finance Company (Viet Nam) Limited (MAFC).
Accordingly, the SBV has accepted to re-issue and replace License No. 61/GP-NHNN dated October 13, 2017 issued for MAFC, with the new specifics as follows:
The finance company's full name in Vietnamese: Công ty Tài chính trách nhiệm hữu hạn một thành viên Mirae Asset (Việt Nam); Abbreviated name in Vietnamese: Công ty tài chính Mirae Asset. The full name in English: Mirae Asset Finance Company (Viet Nam) Limited.
The address of the MAFC's head office: First floor, Sai Gon Royal Tower, No. 91 Pasteur Street, Ben Nghe Ward, District 1, Ho Chi Minh City.
The charter capital of the MAFC is: 700,000,000,000 VND (Seven hundred billion Vietnamese Dongs), of which 100% is owned by the Mirae Asset Capital Company Limited (headquartered in the Republic of Korea).
The operational duration of the MAFC is 50 years, starting from November 11, 2010.
The MAFC is permitted to perform the operations of a consumer finance and credit company in accordance with Vietnam’s laws and the regulations of the SBV, including the following:
(i) Mobilizing capital in the following forms: Issuing deposit certificates, promissory notes, bills and bonds to raise capital from organizations; Borrowing capital from domestic and foreign credit institutions and financial institutions in accordance with the provisions of law.
(ii) Providing credit in the following forms: Lending including installment loans, consumer loans; Issuing credit cards.
(iii) Other operations: Acting as an insurance agency; Providing advisory services in the fields of banking, finance and investment; Receiving trusted capital from the Government, organizations and individuals for credit extension as permitted by the SBV; Contributing capital, purchasing shares in accordance with the SBV regulations.
During its operations, the MAFC shall have to comply with Vietnamese laws.
This License took effect from the date of signing and shall replace the License for the Establishment and Operations No. 61/GP-NHNN dated October 13, 2017 issued to the MAFC.
LK