Press Release on issuance of Circular No.29/2019/TT-NHNN
Hanoi, December 27, 2019 – The Governor of the State Bank of Vietnam (SBV) has issued Circular No. 29/2019/TT-NHNN amending and supplementing a number of articles of Circular No.16/2012/TT-NHNN dated May 25, 2012 providing guidance for the implementation of several articles of Decree No.24/2012/ND-CP dated April 3, 2012 of the Government on the management of gold trading operations.
The new Circular is composed of 4 Articles, specifically as follows:
- Abolishing 3 administrative procedures: (i) Changes in the name and address of a licensed gold bullion trading point; (ii) Supplementing a new gold bullion trading point; (iii) Requesting for termination of gold bullion trading operations at a licensed gold bullion trading point.
- Providing the submission of quarterly reports to the SBV on any adjustments/changes of gold bullion trading points by the licensed credit institutions/businesses with gold bullion trading operations.
- Simplifying several regulations on the reporting regime applied to the SBV municipal and provincial branches and the credit institutions/businesses with gold bullion trading operations.
The new Circular takes effect from February 12, 2020.
Translated by Le Hang