Lien Thuy People's Credit Fund announces changes to its License.

Based on Clause 4, Article 37 of the Law on Credit Institutions 2024.

Based on Decision 81/QD-KV8 of the State Bank of Vietnam, Regional Branch 8, regarding the amendment and supplementation of the license for the operational activities of Lien Thuy People's Credit Fund.

Lien Thuy People's Credit Fund announces the amendments and additions to License No. 15/NH-GP dated December 6, 1996, issued by the State Bank of Vietnam, Quang Binh Provincial Branch, to Lien Thuy People's Credit Fund regarding its operational activities:

- The following activities have been licensed:

Conducting monetary and credit business and banking services in accordance with the regulations on the organization and operation of People's Credit Funds issued by the State Bank of Vietnam and the approved Charter of the People's Credit Fund.

Providing money transfer services, performing collection and disbursement services for members, and conducting these transactions through the CF-eBank system of the Cooperative Bank.

- Content of approved amendments and additions:

1. Raising capital

a) Accepting demand deposits, time deposits, and savings deposits from members, organizations, and other individuals in Vietnamese Dong.

b) Borrow from the Cooperative Bank.

2. Lending activities

a) Lending to members. Members who are legal entities, customers who are legal entities, and individuals who are not members and have deposits at Lien Thuy People's Credit Fund are eligible for loans based on the security provided by their deposit balances at Lien Thuy People's Credit Fund.

b) Providing syndicated loans with the Cooperative Bank to members of the Lien Thuy People's Credit Fund in accordance with the law.

3. Other activities

a) Providing money transfer services, performing collection and disbursement services for members and customers of Lien Thuy People's Credit Fund (excluding opening payment accounts for customers);

b) Acting as an agent to provide payment services for the Cooperative Bank to members and customers of the Lien Thuy People's Credit Fund, specifically:

- Receive payment account opening applications, check and verify customer identification information to send to the Cooperative Bank, and guide customers on how to use their payment accounts.

- Receive bank card issuance applications, check and verify customer identification information to send to the Vietnam Cooperative Bank, and guide customers on how to use the bank card.

- Receiving customer requests for payment services, preparing, signing, verifying, and processing customer transaction documents, transferring customer transaction information to the Cooperative Bank, receiving cash from customers or paying cash to customers to carry out transactions:

+ Depositing/withdrawing cash into/from customers' payment accounts opened at the Cooperative Bank;

+ Withdraw cash from customer-identified debit and prepaid cards issued by the Cooperative Bank.

c) Participate in capital contribution at the Cooperative Bank.

d) Open a payment account at the State Bank of Vietnam; Cooperative Bank; Commercial Bank, or a branch of a foreign bank.

d) Deposit money at the Cooperative Bank to regulate capital.

This decision takes effect from the date of signing and is an integral part of License No. 15/NH-GP dated December 6, 1996, issued by the Director of the State Bank of Vietnam, Quang Binh Branch, to Lien Thuy People's Credit Fund.

Source: https://thoibaonganhang.vn/quy-tin-dung-nhan-dan-lien-thuy-thong-bao-thay-doi-noi-dung-giay-phep-177797.html