CFC allowed to provide forex services

The Governor of the State Bank of Vietnam (SBV) issued, on March 10, Document No. 1631/NHNN-CNH, asserting that Cement Finance Company (CFC) has registered to provide forex services in the domestic market.

Accordingly, the company is permitted to supply such forex services as follows:

- Spots, forwards, futures, options, and other types of FX transactions in line with international practice;

- Mobilization in foreign currencies with the maturity over 1 year; Issuing bonds and various forms of valuable paper in foreign currencies; Borrowing foreign currencies from international and domestic credit institutions;

- Providing short, medium and long-term loans in foreign currencies to customers; Discounting, rediscounting, supplying mortgage of valuable papers and credit guarantee in foreign currencies;

- Providing trust and asset management services in foreign currencies;

- Acceptance and payment of foreign currencies; Authorizing economic entities to act as agents to conduct money exchange, acceptance and payment of foreign currencies;

- Provision of forex consultancy to customers;

SBV also requires CFC to strictly comply with applicable laws on foreign exchange management and other relevant regulations.

sbv

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