SBV
Grade D
State Bank of Vietnam · Vietnam · Official register
License facts
What it takes to hold this license, from the TrustFinance regulator database.
Authorized capital
250,000+
required to operate
Time to obtain
3-6 Months
typical licensing process
TrustFinance grade
of A to D
Requirements to get licensed
Main requirements
- Business registration certificates
- Tax identification numbers
- Application Requirements: The application must be in Vietnamese, with the option to include translated documents certified by a translator. Submission of an application form, internal regulations, and reports signed by the legal representative of the commercial bank. Submission directly to the State Bank or by post.
- Documentation for Different Types of Forex Transactions: For licensing provision of other types of forex transactions on domestic and international markets, additional documents like compliance reports, risk management rules, financial statements, and reports on past operations are needed.
- Specific Requirements: A set of internal rules on risk management, criteria for selecting partners, and limits to forex transactions are essential for licensing provision of primary types of forex transactions.
- Extension Application: When applying for an extension for other types of forex transactions on the domestic and international markets, documents such as a necessity statement, operation report, financial statements, and compliance reports are required.
- Compliance and Reporting: Compliance with laws on prudential ratios in banking, audited financial statements, and internal regulations on risk management are crucial aspects of the application process.
About this regulator
The State Bank of Vietnam is the central bank of Vietnam, responsible for the country's monetary policy, issuing currency, and regulating financial institutions to ensure financial stability. It also manages the country's foreign reserves and oversees payment systems to facilitate secure and efficient financial transactions.
Companies holding this license
Companies on record, each linking to its verification page.