Vietnam-Societe generale registers to provide foreign exchange services
The State Bank of Vietnam’s (SBV) governor on January 22 issued Official Letter No 558/NHNN-CNH allowing Vietnam-Societe generale Finance one-member Ltd Co to provide foreign exchange services.
Under the document, Vietnam-Societe generale Finance Co would provide the following foreign exchange services:
* Receiving deposits in foreign currency with a term of one-year, issuing bonds and valuable papers in foreign currency and borrowing foreign currency from domestic and foreign credit and financial institutions.
* Providing short, medium and long-term loans discount and re-discount of valuable papers in foreign currency and mortgage and guarantee services in foreign currency.
* Providing domestic and international money delivery and payment services.
* Providing consultancy services on foreign exchange to customers.
Vietnam-Societe generale Finance Co must follow Vietnam’s current regulations on foreign exchange service management and other related regulations. (SBV)
