On August 31st, 2017, the State Bank of Vietnam (SBV) issued Decision No.1843/QĐ-NHNN revising the License for Establishment and Operation of Vietnam - Russia Joint Venture Bank (VRB).
Specifically, SBV supplemented Section II, Article 5 of the License for Establishment and Operation of Joint-Venture Bank No.11/CP-NHNN dated October 30th, 2006 issued by the SBV Governor to VRB into "Trading, providing foreign exchange services on the domestic market and in the international market within the scope prescribed by SBV.”
Vietnam - Russia Joint Venture Bank is responsible for implementing the above mentioned activities to ensure compliance with the law on foreign exchange and other relevant regulations; To carry out the procedures prescribed in Clause 3, Article 18b of the Circular No.40/2011/TT-NHNN dated December 15th, 2011 on the granting of license and organization, performance of commercial banks, branches of foreign banks, representative offices of foreign credit institutions and other foreign organizations with banking operations in Vietnam (revised and supplemented by Circular No 08/2015/TT-NHNN) to implement the above-mentioned content of revision.
This Decision took effect on the date of signing and is an integral part of License No.11/GP-NHNN dated October 30th, 2006 issued by the SBV Governor for Vietnam – Russia Joint Venture Bank.
Documents approving other basic foreign exchange operations issued by the SBV to VRB prior to the Decision No.1843/QĐ-NHNN shall cease to be effective from the date of signing.
VA