The State Bank of Vietnam (SBV) issued Decision No. 1741/QĐ-NHNN on August 15th, 2017 to revise License of Taipei Fubon Commercial Bank – Hanoi branch.
Accordingly, the SBV Governor approved: (i) To supplement the operation contents of Article III of License No.11/NH-GP dated April 09th, 1993 for Cathay Investment and Trust (now renamed as Taipei Fubon Commercial Bank - Hanoi Branch) as follows: “Trading and providing forex services in the domestic and international market within the scope stipulated by the SBV”; (ii) To annul Section II of Article III of License No.11/NH-GP dated April 09th, 1993 issued by the Governor of State Bank of Vietnam for Taipei Fubon Commercial Bank - Hanoi Branch.
Taipei Fubon Commercial Bank - Hanoi Branch is responsible for providing services mentioned in this Decision in compliance with the provisions of the law on foreign exchange and other relevant regulations; To carry out the procedures prescribed in Item 3, Article 18b of Circular No. 40/2011/TT-NHNN dated December 15th, 2011 of the State Bank of Vietnam regulating on licensing and organizations, operations of commercial banks, foreign bank branches, representative offices of foreign credit institutions and other foreign organizations with banking operations in Vietnam (amended and supplemented by the State Bank's Circular No.08/2015/TT-NHNN dated June 30th, 2015) for the mentioned-above services.
This Decision took effect from the date of signing and is an integral part of License No.11/NH-GP dated April 09th, 1993 issued by the Governor of State Bank of Vietnam for Taipei Fubon Commercial Bank - Hanoi Branch.
The swap business license No.23/1998/GP-QLNH5 dated February 11th 1998 and documents approving other basic foreign exchange activities granted by SBV to Taipei Fubon Commercial Bank - Hanoi Branch prior to the signing of this Decision expire on the date of signing this Decision.
VA