SBV to inspect gold trading activities

Credit institutions and gold trading enterprises will be subject to inspection in terms of compliance with policies and laws in gold trading activities, according to Decision 324/QD-TTGSNH2 issued by the State Bank of Vietnam (SBV) on May 17.

As per the Decision, the inspection will focus on the adherence to legal regulations concerning gold trading, anti-money laundering, accounting and invoicing practices, tax declaration and fulfillment.

The inspection period spans from January 1, 2020, through May 15, 2024, and may be extended to the time before or after the specified period if deemed necessary.

SBV to inspect gold trading activities
SBV to inspect gold trading activities (Illustration)

The inspection team consists of representatives of the Government Inspectorate, Ministry of Public Security, Ministry of Finance, Ministry of Industry and Trade. The team will operate for 45 days in accordance with the Inspection Law and other relevant regulations.

This decision aligns with the Prime Minister’s Official Telegram 23/CD-TTg on March 20, strengthening measures for gold market management, and the Directive 14/CT-TTg on May 2, on monetary policy management for 2024, with a focus on tackling difficulties in production and trade, promoting growth and ensuring macro-economic stability.


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