On November 12, 2018, the State Bank of Vietnam (SBV) issued Decision No.2223/QD-NHNN revising the License on the Establishment and Operations of Vietnam Joint Stock Commercial Bank for Industry and Trade (Vietinbank).
Accordingly, the SBV Governor approved the modification of the substances of “Trading, providing domestic and foreign customers with derivative products in Vietnam on the exchange rates, interest rates, foreign currencies, monetary, product pricing and financial products on the basis of compliance with the SBV’s regulations and other relevant laws for each specific product” as written in Paragraph 2.4 of Article 3 of License No.142/GP-NHNN dated July 3, 2009 for Vietinbank (as revised in Decision No.1189/QD-NHNN dated June 6, 2012), to read as follows: “Trading, providing interest rate derivatives”.
Vietinbank is responsible for implementing the procedures in line with Paragraph 4 of Article 29 of the Law on Credit Institutions No.47/2010/QH12, which was amended and supplemented by Law No.17/2017/QH14.
This Decision took effect from the date of signing and is an integral part of License No.142/GP-NHNN dated July 3, 2009 for Vietinbank.
Le Hang