On September 08, 2022, the State Bank of Vietnam (SBV) issued Decision No. 1542/QD-NHNN supplementing a new operation to the License for the Establishment and Operations of the Asia Commercial Joint Stock Bank (ACB).
Accordingly, the SBV Governor has approved of the supplementation of an additional operation as Paragraph 23 to Article 4 of the License for the Establishment and Operations No. 91/GP-NHNN dated September 19, 2018 issued by the SBV Governor to the ACB, to read as follows:
“23) Supplying of commodity price derivative products.”
The ACB shall be responsible for implementing the applicable procedures in line with Paragraph 3 of Article 18b of Circular No. 40/2021/TT-NHNN dated December 15, 2011 of the SBV Governor stipulating the licensing, organization and operations of commercial banks, foreign bank branches, representative offices of foreign credit institutions, other foreign institutions with banking operations in Vietnam (as amended and supplemented) 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. 91/GP-NHNN dated September 19, 2018 issued by the SBV Governor to the ACB.
LK