The State Bank of Vietnam (SBV) has issued License No. 32/GP-NHNN dated March 13, 2020 on the establishment and operation of MB Shinsei Finance Limited Liability Company (MS Finance).
Accordingly, the SBV Governor has decided to renew License No. 58/GP-NHNN dated September 21, 2017 issued for MS Finance, to read as follows:
Full-name in Vietnamese: Công ty tài chính TNHH MB Shinsei;
Full-name in English: MB Shinsei Finance Limited Liability Company;
Abbreviation: MS Finance;
Head office address: 12th floor, TNR Tower building, No. 54 Nguyen Chi Thanh, Lang Thuong ward, Dong Da district, Hanoi city;
Charter capital: VND 800,000,000,000 (Eight hundred billion Vietnamese dongs); the Military Commercial Joint Stock Bank owns 50% of the charter capital; Shinsei Bank, Limited (Japan) owns 49% of the charter capital; Xuan Thanh Construction Investment and Development Company Limited owns 1% of the charter capital.
The operation duration of MS Finance is 50 years, starting from September 21, 2017
MS Finance is permitted to perform the operations of a consumer finance and credit company in accordance with Vietnam’s laws and the regulations of the SBV, including the following:
(i) Mobilizing capital in the following forms: Receiving deposits from organizations; Issuing deposit certificates, promissory notes, treasury bills and bonds to raise capital from organizations; Borrowing capital from domestic and foreign credit institutions and financial institutions in accordance with the provisions of applicable laws; Borrowing from the SBV in the form of refinancing in accordance with the Law on the SBV;
(ii) Providing credit in the following forms: Lending, including installment loans, consumer loans; Discounting, rediscounting negotiable instruments, other valuable papers; Credit card issuance;
(iii) Other activities: Opening deposit accounts at the SBV; Opening payment accounts at commercial banks, foreign bank branches; Opening accounts at foreign banks in accordance with the law on foreign exchange; Opening deposit accounts, loan management accounts for customers; Contributing capital, purchasing shares in accordance with the SBV regulations; Trading and providing foreign exchange services on the domestic and international markets within the scope prescribed by the SBV; Acting as an insurance business agency; Providing advisory services in the fields of banking, finance and investment; Providing services of managing and maintaining customers' properties; Bidding for the Treasury bills, purchasing and selling of negotiable instruments, the Government bonds, the Treasury bills, the SBV bills and other valuable papers as prescribed by laws; Receiving entrusted capital of the Government, organizations and individuals for granting credit as permitted by the SBV; Guaranteeing for the issuance of the Government bonds, acting as an agent for the issuance of bonds, shares and other valuable papers; Depositing, receiving deposits of credit institutions, foreign bank branches, domestic and foreign financial institutions in accordance with the provisions of applicable laws.
During its operations, MS Finance shall have to comply with Vietnamese laws.
This License took effect from the date of signing and replaces License for the Establishment and Operations of MB Shinsei Finance Limited Liability Company No. 58 / GP-NHNN dated September 21, 2017 and other previous documents approving the revisions and amendments to this License.
VA