The State Bank will inspect compliance with policies and laws in gold trading during the period from January 1, 2020 to May 15, 2024. If necessary, it may inspect before or after the above period.
The State Bank officially inspects gold trading activities. (Photo: Vietnam+)
On May 17, the State Bank of Vietnam issued Decision No. 324/QD-TTGSNH2 to inspect the compliance with policies and laws in gold trading activities of credit institutions and enterprises operating in gold trading.
The contents include inspection of compliance with legal regulations on gold trading activities; inspection of compliance with legal regulations on anti-money laundering; inspection of compliance with legal regulations on accounting regime, preparation and use of invoices and documents; and declaration and performance of tax obligations.
The inspection period is from January 1, 2020 to May 15, 2024. If necessary, the inspection can be conducted before or after the above period.
The inspection team includes representatives from the Government Inspectorate, the Ministry of Public Security, the Ministry of Finance, and the Ministry of Industry and Trade. The inspection period is 45 days. The inspection team will conduct the inspection in accordance with the provisions of the Inspection Law and related regulations.
Recently, implementing the direction of the Government and the Prime Minister, the State Bank has deployed solutions to intervene and stabilize the gold market through gold bar auctions to increase supply in the market. The State Bank has widely publicized information related to the auction and results of gold bar auctions on the State Bank's electronic information portal.
From April 19, 2024 to present, the State Bank has organized 7 auctions to sell SJC gold bars with a total winning volume of 27,200 taels (equivalent to about 1.02 tons).
The State Bank will continue to organize two gold auctions on May 21, 2024 and May 23, 2024. The minimum gold bid volume is 500 taels and the maximum bid volume is 4,000 taels. The gold auction volume remains at 16,800 taels.
In the coming time, the State Bank will coordinate with relevant agencies to continue to resolutely implement comprehensive and comprehensive solutions according to regulations with the goal of completely handling the high difference between domestic and international gold bar prices. People need to be cautious when participating in gold transactions to minimize risks./.
According to Vietnam+
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