On February 22, 2022, the State Bank of Vietnam (SBV) issued Decision No. 181/QD-NHNN supplementing an operation to the License for the Establishment and Operations of Shinhan Vietnam Finance Company Limited.
Accordingly, the SBV Governor has approved of the supplementation of an additional operation as Point e of Paragraph 3 of Article 4 of the License for the Establishment and Operations No. 51/GP-NHNN dated May 03, 2019 issued by the SBV Governor to Shinhan Vietnam Finance Company Limited, to read as follows:
“e) Trading and providing foreign exchange services in the domestic market and in the international market within the scope as prescribed by the SBV, specifically as follows: (i) Basic scope of foreign exchange operations in the domestic market: Borrowing in foreign currencies from the authorized credit institutions, domestic financial institutions; Issuing international credit cards; Opening payment accounts in foreign currencies at commercial banks and foreign bank branches which are licensed to conduct foreign exchange operations; (ii) Basic scope of foreign exchange operations in the international market: Opening payment accounts at foreign banks for the issuance of international credit cards.”
Shinhan Vietnam Finance Company Limited shall be responsible for implementing the above-mentioned additional operation in line with the applicable provisions of the SBV on foreign exchange and other relevant provisions of law; Implementing the procedures as prescribed for in Paragraph 4 of Article 29 of the 2010 Law on Credit Institutions (as amended and supplemented in 2017) regarding the newly added operation.
This Decision took effect from the date of signing and is an integral part of the License for the Establishment and Operations No. 51/GP-NHNN dated May 03, 2019 issued by the SBV Governor to Shinhan Vietnam Finance Company Limited.
LK