The Governor of the State Bank of Vietnam (SBV) issued Decision No. 625/QĐ-NHNN on April 13 to extend the operational coverage of the license granted to Eximbank.
Accordingly, the Governor of the SBV permitted Eximbank to add several services and operations to the License No.0011/NH-GP dated April 6, 1992 of the Eximbank as follows: (i) Rediscounting negotiable instruments and other valuable papers; (ii) Account opening includes opening account at the SBV; opening account at the credit institutions and branches of other foreign banks; (iii) Setting up internal payment and participating in national interbank system; (iv) cash management services, banking and financial consulting; asset preservation and safe-deposit box for lease services; (v) corporate finance advisory; consulting on merging and acquisitions (M&A) and investment; (vi) participating in the bidding, purchasing and sales of Treasury bills, negotiable instruments, government bonds, SBV bills and other valuable papers in money market; (vii) purchase and sale of government and enterprise bonds; (viii) Currency brokerage services; (ix) issuing deposit certificates, bills, bonds to mobilize capital in line with Law on credit institutions, Law on Securities and Government’s regulations and SBV’s guidance; (x) Borrowing from SBV under refinance loan in line with Law on State Bank of Vietnam and the SBV’s guidance.
Eximbank is responsible to implement legal procedures stipulated in Circular 40/2011/TT-NHNN dated December 15, 2011 on granting license and organization, performance of commercial banks, branches of foreign banks, representative offices of foreign credit institutions and other foreign organization having banking operations in Vietnam, and Circular No 08/2015/TT-NHNN of the SBV.
The Decision took effect from the date of signing and is an integral part of License No. 0011/NH-GP of the Eximbank.
VMH