SBV revises License of BIDC – Hochiminh city branch

Accordingly, the SBV Governor approved the revision of Clause 1 Article 5 of the License for establishing a foreign bank branch No. 284/GP-NHNN dated December 18th, 2009 granted to Bank for Investment and Development of Cambodia (BIDC) - Hochiminh city branch as follow: “Bank for Investment and Development of Cambodia - Hochiminh city branch is allowed to carry out activities in accordance with the laws and SBV regulations, including the following activities:"

Annulling the content “Buying and selling foreign exchanges” stated in Point d Clause 1 Article 5 of License for establishing a foreign bank branch No. 284/GP-NHNN dated December 18th, 2009 granted to Bank for Investment and Development of Cambodia (BIDC) - Hochiminh city branch.

Amending Clause 2 Article 5 of License for establishing a foreign bank branch No. 284/GP-NHNN dated December 18th, 2009 as follow: “Bank for Investment and Development of Cambodia (BIDC) - Hochiminh city branch is allowed to trade and provide foreign exchange services in the domestic and international market within the scope stipulated by the SBV.”

BIDC - Hochiminh city branch is responsible for: (i) Providing the mentioned-above services in compliance with applicable laws and other relevant regulations; (ii) Implementing procedures in line with Item 3 of Article 18b of Circular No.40/2011/TT-NHNN dated December 15th, 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 30th, 2015).

This Decision took effect from the date of signing and is an integral part of License for establishing a foreign bank branch No. 284/GP-NHNN dated December 18th, 2009 granted to Bank for Investment and Development of Cambodia (BIDC) - Hochiminh city branch.

VA