The State Bank of Vietnam (SBV) issued Decision No. 471/QĐ-NHNN on March 24 to extend the operational coverage of the license of HCMC branch of Malayan Banking Berhad.
Accordingly, the SBV Governor has approved the additional operations of “discounting, rediscounting negotiable instruments and other valuable papers; domestic factoring; cash management service; purchasing and selling corporate bonds; agents concerning with insurance business activities” to Article 3 of License No.05/GP-NHNN dated March 29, 2005 for HCMC branch of Malayan Banking Berhad.
The HCMC branch of Malayan Banking Berhad is responsible for implementing the above-mentioned substances in compliance with SBV regulations and other relevant regulations; implementing the procedures in accordance with Item 3 of Article 18b of Circular No. 40/2011/TT-NHNN dated December 15, 2011 on granting a license to commercial banks, foreign bank branches, the representative offices of foreign banks and other foreign institutions with banking operations in Vietnam (as revised by Circular No. 08/2015/TT-NHNN dated June 30, 2015).
This Decision took effect from the date of signing and is an integral part of License No.05/GP-NHNN dated March 29, 2005 for HCMC branch of Malayan Banking Berhad.
Le Hang