The State Bank of Vietnam (SBV) issued Decision No. 1485/QĐ-NHNN on July 12, 2017 to revise License of HCMC branch of Bank of China.
Accordingly, the SBV Governor approved the additional operation of “trading, providing forex services in the domestic and international markets in line with SBV’s regulations” to Article III of License No. 21/NH-GP dated July 24, 1995. At the same time, the SBV abolished Item II of Article III of License No. 21/NH-GP dated July 24, 1995.
HCMC branch of Bank of China 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/NH-GP dated July 24, 1995. License No. 37/1998/GP-QLNH5 dated February 20, 1998 and other previous documents on approving other basic forex activities granted to HCMC branch of Bank of China ceased to be effective from the date of signing this Decision.
Le Hang