SBV releases draft circular on financial operations

by PV/VTV01 March 2017 Last updated at 06:29 AM

(Photo: sbv.gov.vn)
(Photo: sbv.gov.vn)

VTV.vn - The State Bank of Vietnam is collecting comments on a draft circular on stipulating agents of credit institutions, and foreign bank branches.

Commercial banks and foreign bank branches would be allowed to act as agents to transfer money; collect money; issue bonds, shares and valuable papers; issue cards and sell non-life insurance.

Meanwhile financial companies would act as agents for activities including issuing bonds, shares and valuable papers; and the sale of non-life insurance.

Financial loan companies and microfinance institutions would be allowed to act as agents for the sale of non-life insurance.

The draft also provides guidelines for financial organisations and specifies the rights and obligations of agents.

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