The State Bank of Vietnam (SBV) issued Decision No. 461/QĐ-NHNN on March 23 to revise the license of HCMC branch of China Construction Bank Corporation.
Accordingly, the SBV Governor has approved the additional operation of “trading and providing forex services in the domestic and international markets under its jurisdiction” to Article 5 of License No. 271/GP-NHNN dated December 10, 2009 for HCMC branch of China Construction Bank Corporation. At the same time, the SBV Governor also approved to revise substance of “HCMC branch of China Construction Bank Corporation is allowed to perform following operations in VND and foreign currencies” as written in Article 5 of License No. 271/GP-NHNN dated December 10, 2009 as follows: “HCMC branch of China Construction Bank Corporation is allowed to perform following operations in VND”.
The HCMC branch of China Construction Bank Corporation is responsible for implementing the above-mentioned substances in compliance with laws on foreign exchange 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. 271/GP-NHNN dated December 10, 2009 for HCMC branch of China Construction Bank Corporation. Document No. 621/NHNN-TTGSNH dated January 20, 2011 on confirming eligibility for providing forex services; Document No. 6570/NHNN-TTGSNH dated September 9, 2014 on confirming eligibility for providing forex services and other documents on approving HCMC branch of China Construction Bank Corporation to provide basic forex activities ceased to be effective from the date of signing this Decision.
Le Hang