The Governor of the State Bank of Vietnam (SBV) issued Document No. 929/NHNN-TTGSNH on February 20 on approving the request of extending the duration of doing payable factoring by HSBC Bank (Vietnam) Ltd.
Accordingly, HSBC Bank (Vietnam) Ltd. is permitted to extend the duration of pilot doing payable factoring for another 01 year from January 28, 2017 upon its request in Document No.01-2016/GTTRF-HSBC dated on November 28, 2016 on extending the duration of pilot doing payable factoring and reducing requirements for dossiers when conducting this operation.
HSBC Bank (Vietnam) Ltd. is required to comply with SBV guidance in Document No. 618/NHNN-TTGSNH on January 28, 2015 on doing payable factoring and reducing requirements for dossiers.
Le Hang