Remaining gold funds in the system is about 112tr dong

The Foreign Exchange Department (under the central bank) has currently suspended granting permission to production and trading of gold bar, towards terminating gold mobilisation in banks.

However, to facilitate banks, the central bank will have a roadmap for banks to pay the remaining amount of gold in the system for customers. This amount is estimated at 112 trillion dong.

According to statistics of the central bank, after Agribank stopped mobilising gold, there are 22 credit institutions still carrying out gold mobilisation and lending.

Previously, at the conference on implementing Resolution 11/NQ-CP on March 3, the state bank’s Governor Nguyen Van Giau said that the roadmap would be built towards gradually reduce and eventually terminate gold mobilisation and lending to create the overall stability for the foreign exchange market.

Tags: gold funds

Posted by VBN on Mar 10 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