Chinatrust Bank HCMC branch licensed to supply forex services

The Governor of the State Bank of Vietnam (SBV) issued on January 6, 2009 Document No.77/NHNN-CNH, asserting that the Ho Chi Minh City branch of the Chinatrust Bank has met proper conditions to provide currency option services in accordance with Decision No 1452/2004/QD-NHNN of the SBV Governor dated November 10, 2004.

The same day, the Governor also issued Document No. 78/NHNN-CNH to confirm the Chinatrust Bank HCMC branch’s registration of forex services. Accordingly, the Bank could conduct forex trading in overseas markets and participate in international money and derivative markets.

The SBV requires the Chinatrust Bank HCMC branch to strictly comply with the Vietnamese law on forex services and other relevant legal documents.

The confirmation of commercial banks to complete their registration and to meet proper conditions to provide forex services is done in accordance with Circular No.03/2008/TT-NHNN of the SBV Governor dated April 11th, 2008 on guidelines of forex services of credit institutions.

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