VietABank issues C/Ds in gold worth 80,000 taels

Viet A Commercial Joint Stock Bank (VietABank) has recently issued short-term certificate of deposits (C/Ds) in gold with a total of 80,000 taels for terms of 1, 2, 3, 6, 9 and 11 months.
The principal and interest will be paid once when due. Additionally, if necessary customers can mortgage, discount for transfer these C/Ds.

The issuance is scheduled from September 5 to November 3, 2011.’

At the press briefings held by the Ministry of Information and Communications on morning August 23, the State Bank of Vietnam (SBV)’s Governor, Nguyen Van Binh said the central bank on behalf of the government will mobilize gold from people to stabilize the gold market. The central bank will not directly raise gold but this precious metal will be mobilized through credit institutions. – Vietbiz24

Tags: vietnam gold, Vietnam gold market, Vietnam gold prices

Posted by VBN on Sep 9 2011. Filed under Banking-Finance. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry