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VietNamNews

State Bank to halt gold deposits

Update: December, 05/2012 - 10:58

HA NOI (VNS)— The State Bank of Viet Nam(SBV) has ordered banks to cease taking gold deposits and start collecting fees for keeping customers' gold.

The fees have to be notified publicly and all banks must report details of their holdings to the State Bank monthly.

Earlier, the central bank regulated banks had to stop mobilising new gold from November 25 this year and to pay back the existing deposits to the owners by end-June of next year.-VNS

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