Tin Nghia Bank allowed to provide forex services

The Governor of the State Bank of Vietnam (SBV) issued Document No. 3884/NHNN-TTGSNH on May 18 to assert that the Viet Nam Tin Nghia Joint-Stock Commercial Bank is allowed to provide foreign exchange services.

Accordingly, the Bank is permitted to supply such forex services as  spots, forwards, futures, options, and other types of FX transactions in line with international practices; acting as issuer and the issuing agent of international payment cards; discounting and rediscounting of foreign exchange-denominated valuable papers; authorizing other credit institutions and/or economic entities to act as agents to conduct foreign exchange services; providing trust and asset management services in foreign currencies; providing foreign exchange investment banking services (M&A, underwriting of foreign exchange-denominated stocks…); providing forex consultancy to customers; and other forex services in line with international practices and the Vietnamese law.

The Tin Nghia Bank is also required to strictly comply with the applicable laws and other relevant legal texts on foreign exchange management.

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