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Global Petro Bank licensed to supply foreign exchange service
The Governor of the State Bank of Vietnam issued on 30 September 2008 Document No.8855/NHNN-CNH, asserting that the Global Petro Commercial Joint Stock Bank has met proper conditions to provide foreign exchange services to its customers.
Under this Document, Global Petro Commercial Joint Stock Bank is allowed to conduct such foreign exchange services as spots, forwards, futures, options, and others transactions; mobilization, lending and guaranty; acting as issuer and issuing agent of international payment cards; domestic and international transfer and payment; discounting and rediscounting of foreign exchange valuable papers; assigning other credit institutions and/or economic institutions to act as agent provider of money exchange, reception and payment of foreign currencies, and other services; trust and asset management services; investment banking services (M&A, underwriting and issuing foreign exchange stocks…); provision of forex advice to customers; and other services in line with international practice and the Vietnamese law.
The confirmation of commercial banks to meet proper conditions to provide forex services and non-bank credit institutions to complete their registration of forex services is done in accordance with Circular No.03/2008/TT-NHNN of the SBV Governor dated August 11st, 2008 on guidelines of forex services of credit institutions.
SBV
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