The State Bank of Vietnam (SBV) issued Decision No.2273/QD-NHNN on October 30, 2017 to revise the License of Saigon Bank for Industry & Trade (SAIGONBANK).
Accordingly, the SBV Governor approved the addition of operation of “trading and providing forex services in the domestic and international market in line with the scope of operations stipulated by the SBV" to Item 8, License No. 0034/NH-GP dated May 4, 1993 of SAIGONBANK.
SAIGONBANK is responsible for implementing above-mentioned activities in accordance with laws on foreign currencies and relevant regulations; Accomplishing procedures as stipulated in Item 3, Article 18 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).
Decision No. 2273/QD-NHNN takes effect from the date of signing and is an integral part of License No. 0034/NH-GP dated May 4, 1993 of SAIGONBANK.
Relevant contents relating to foreign exchange services at Item 8, Article 2 of Decision No.92/QD-NH5 dated May 4, 1993 on granting License for SAIGONBANK, Certification on confirming eligibility of providing foreign exchange services No.46/NHNN-CNH dated January 5, 2009; Certification on confirming the registration of providing foreign exchange services No.47/NHNN-CNH dated January 5, 2009 and other documents on approving basic foreign exchange services granted by SBV for SAIGONBANK, which were signed before the date of signing Decision No.2273//QD-NHNN dated October 30, 2017, cease to be effective from the date of signing this Decision.
Nguyen Giang