On May 30th, 2018, the State Bank of Vietnam (SBV) issued Decision No. 1166/QD-NHNN amending and supplementing the contents of the License for establishment and operation of the Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV).
Accordingly, the SBV Governor approved the amendment and supplement of the License for establishment and operation No. 84/GP-NHNN dated April 23rd, 2012 granted to BIDV as follows:
Abolishing the content of Paragraph 3, Article 1 of License No. 84/GP-NHNN, and amending the content of Paragraph 4, Article 1 of License No. 84/GP-NHNN as follows: "3. Joint Stock Commercial Bank for Investment and Development of Vietnam is established in the form of a joint stock company, has the legal status and its own seal according to the provisions of Vietnamese law”;
Amending the Item 13b of Article 4 of License No. 84/GP-NHNN as follows: "13b. Trading and providing derivative products with interest rates”;
Supplement the Item 16 of Article 4 of License No. 84/GP-NHNN as follows: “16. Providing derivative products for commodity prices”.
When implementing insurance agency activities, BIDV have to fully implement the activities mentioned in Paragraph 2 and 3, Article 1 of this Decision to ensure the observance of law provisions on foreign exchange, trading and supply of derivative products and other relevant regulations; Implement regulations on insurance agency activities and other relevant provisions of law; implementing procedures in line with Paragraph 3 of Article 18b of Circular No. 40/2011/TT-NHNN dated December 15th, 2011 on granting licenses to commercial banks, foreign bank branches and representative offices of foreign credit institutions and other foreign institutions with banking operations in Vietnam (as amended and supplemented by Circular No. 17/2017/TT-NHNN dated November 20th, 2017).
This Decision takes effect from the date of signing and is an integral part of the License for establishment and operation No. 84/GP-NHNN dated April 23rd, 2012 granted to BIDV.
VA