Agribank's most important goal when selling gold to people

In order to ensure the successful implementation of the market stabilization target as directed by the Government and the Prime Minister, the State Bank of Vietnam announced that it will sell gold directly to 04 State-owned commercial banks, so that these banks can sell gold directly to the people. The goal is to soon narrow the gap between domestic and international gold prices to a suitable and sustainable level.

Mr. Pham Toan Vuong, General Director of the Vietnam Bank for Agriculture and Rural Development (Agribank) said that this is a timely, correct and responsible policy of the State Bank as well as the entire commercial banking system.

On Agribank's side, with the advantage of a widespread transaction network, the bank has fully implemented the necessary conditions to be ready to start supplying gold to people from June 3, 2024.

In the immediate future, Agribank will implement in Hanoi and Ho Chi Minh City and monitor market developments to continue to expand, ensuring compliance with market demand.

Mr. Pham Toan Vuong, General Director of Agribank.

Notifying people about the procedures to buy gold at Agribank, Mr. Vuong said that in the near future, the bank will sell gold to individuals in need.

Basically, the procedures will be very convenient and simple, however, customers also need to pay attention to the procedures related to personal identification and comply with some regulations on transactions, legal payment of invoices and anti-money laundering.

Mr. Vuong said that issuing invoices and paying through accounts helps confirm legal transactions, which also confirms the buyer's ownership; at the same time, this also helps state management agencies grasp transactions and the amount of gold circulating among individuals, organizations and units licensed to trade in gold.

“With the responsibility of a commercial bank, we ensure to supply the legitimate needs of the people. Regarding the selling price, we participate in the market to sell gold, not for profit but most importantly to achieve the goal of reducing the difference between domestic and international gold prices compared to the present,” Mr. Vuong emphasized .

Source: https://www.nguoiduatin.vn/muc-tieu-quan-trong-nhat-cua-agribank-khi-ban-vang-cho-nguoi-dan-a666108.html