The State Bank of Vietnam (SBV) issued Decision No.1884/QĐ-NHNN on September 6, 2017 to revise License of SinoPac Bank – Ho Chi Minh City branch.
Accordingly, the SBV Governor has approved to revise content at the Article 3, Item 2 of the License No.03/NHNN-GP dated May 20, 2004 of Far East National Bank – HCMC branch (currently known as SinoPac Bank) as follow: “trading and providing forex services in the domestic and international market in line with the SBV’s regulations".
SinoPac Bank - HCMC Branch is responsible for (i) implementing above-mentioned activities in accordance with laws on foreign currencies and relevant regulations; (ii) Accomplishing procedures as stipulated in Item 3, Article 18b of Circular No.40/2011/TT-NHNN dated December 15th, 2011 of the SBV Governor on granting license and organization, performance of commercial banks, branches of foreign banks, representative offices of foreign credit institutions and other foreign institutions with banking operations in Vietnam (as revised by Circular No 08/2015/TT-NHNN dated June 30, 2015).
This Decision takes effect from the date of signing and is an integral part of License No.03/NHNN-GP dated May 20, 2004 for SinoPac Bank - HCMC Branch.
Other documents on approving other basic foreign exchange services granted by SBV for SinoPac Bank - HCMC Branch, which were signed before the date of signing Decision No.1884/QĐ-NHNN, cease to be effective from the date of signing this Decision.
Thoa Le