The State Bank of Vietnam (SBV) issued Decision No. 1036/QĐ-NHNN on May 26, 2017 to revise License of HCMC branch of Kookmin Bank.
Accordingly, the SBV Governor approved the revision of Item 2 of Article 5 of License No. 21/GP-NHNN dated January 19, 2011 as follows: “trading, providing forex services in the domestic and international markets in line with SBV’s regulations”. At the same time, the SBV revised the substance “HCMC branch of Kookmin Bank is allowed to conduct the following operations in VND and foreign currencies” as stipulated in Item 1 of Article 5 of License No. 21/GP-NHNN as follows: “HCMC branch of Kookmin Bank is allowed to conduct the following operations in VND”.
HCMC branch of Kookmin Bank is responsible for providing the mentioned-above services in compliance with laws on forex and other relevant regulations; implementing procedures in line with Item 3 of Article 18b of Circular No. 40/2011/TT-NHNN dated December 12, 2011 on granting license to commercial banks, foreign bank branches and representative offices of foreign credit institutions and other foreign credit 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. 21/GP-NHNN dated January 19, 2011. Document No. 5045/NHNN-TTGSNH dated June 29, 2011 on confirming eligibility of providing forex services by HCMC branch of Kookmin and other documents on forex services granted to HCMC branch of Kookmin Bank ceased to be effective from the date of signing this Decision.
Le Hang