EVN Finance allowed to provide forex services

The Governor of the State Bank of Vietnam (SBV) issued, on February 16, Document No. 997/NHNN-CNH, asserting that Electric Vietnam Finance Joint-Stock Company (EVN Finance) 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 and supplying mortgage of valuable papers in foreign currencies;

- Providing trust and asset management services in foreign currencies;

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

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.

SBV

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