According to a statement by country's central bank, SBV the regulation would strengthen the State's management of gold trading activities.
HANOI(BullionStreet): Vietnam banks are allowed to finance genuine working capital requirements of jewellery traders and manufacturers, but only with the approval of the central state bank.
According to a statement by country’s central bank, SBV the regulation would strengthen the State's management of gold trading activities.
The SBV also told credit institutions that they should not turn gold deposits into other currencies, including dong. They also must not use gold deposits as collateral for loans from other credit institutions.
The central bank has asked credit institutions to carry out measures to collect their loans that are now in gold, or turn these outstanding loans into dong-denominated loans. ...