More enterprises licensed to trade gold bars
VGP – The State Bank of Viet Nam (SBV) granted licenses to trade gold bars to five more credit organizations and two more enterprises.
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>>>New regulations on gold bar transaction
The five credit organizations include the South East Asia Commercial Joint Stock Bank (SeABank); the Military Commercial Joint Stock Bank; the Sai Gon Ha Noi Commercial Joint Stock Bank (SHB); the Ocean Commercial Joint Stock Bank (Ocean Bank) and the Mekong Delta Housing Development Commercial JS Bank (MHBank).
The two enterprises are Phu Quy Gold Investment and VietinBank Gold and Jewellery Company.
So far, 38 units were licensed to transact gold bars. The gold bullion trading network, consisting of 2,497 points of transactions will cover all 63 provinces and cities.
The move aims to ensure people’s legitimate benefits in bar sales. The licensed gold shops will be requested to post their buying and selling prices for gold bars.
Since January 10, shops which have not been licensed to do gold bar trading but still conducted gold bar transactions, will get fines, ranging from VND50-100 million (US$2.500-5.000).
Earlier, the SBV issued Circular 16/2012/TT-NHNN guiding the jewelry trade business; gold trade business and gold import activities to enforce the Government’s Decree 24/2012/NĐ-CP.
Enterprises and credit organizations specializing in gold bar trading have to apply for business licenses with the SBV from July 10, 2012 to January 10, 2013.
List of other 31 credit institutions and enterprises granted gold bar trading licenses:
1. Asia Commercial Joint-Stock Bank
2. Viet Nam Joint Stock Commercial Bank for Industry and Trade
3. Viet Nam Joint Stock Commercial Bank for Investment and Development
4. Viet Nam Bank for Agriculture and Rural Development
5. Dong A Joint Stock Commercial Bank
6. Viet Nam Maritime Commercial Joint Stock Bank
7. Viet Nam Technological and Commercial Joint- stock Bank
8. Nam A Commercial Joint Stock Bank
9. Ho Chi Minh City Development Bank
10. Phuong Dong Joint-Stock Commercial Bank
11. Phuong Nam Joint-Stock Commercial Bank
12. Sai Gon Thuong Tin Commercial Joint-stock Bank
13. Sai Gon Joint Stock Commercial Bank
14. Tien Phong Joint Stock Commercial Bank
15. Viet A Joint Stock Commercial Bank
16. Viet Nam Prosperity Bank
17. Viet Nam Export Import Commercial Joint Stock Bank
18. Ho Chi Minh City Agribank Gold, Silver and Gemstone Company
19. Viet Nam Agribank Gold Joint Stock Corporation
20. Bao Tin Minh Chau Company Limited
21. DOJI Gold & Gems Group
22. Viet Nam Gold Investment and Trading Corporation
23. Kim Ngoc Phu Company Limited
24. Ngoc Hai Gold, Silver And Gemstones Company Limited
25. Ngoc Tham Gold Silver Gemstone Company Limited
26. Phu Nhuan Jewelry Joint Stock Company
27. Phuc Thanh Gold and Silver Company Limited
28. Phuong Nam Gold Silver Gemstone Trading JSC
29. Gold Silver Gemstone Saigon Thuong Tin Commercial Bank Company Limited
30. Saigon Jewelry Company Limited
31. Mi Hong Gold Trading Company Limited
By Kim Anh
