Vietnam banks resume raising gold deposit
Some local commercial banks have resumed raising gold deposit with low interest rate levels amid current gold heat, local online newspaper Phap Luat Thanh Pho Ho Chi Minh (HCMC Law) reported.
Orient Commercial JS Bank (OCB) raised gold certificate at 1%p.a. interest rate and gold depositor could not withdraw gold before the maturity.
Other banks allowed their major branches to raise gold deposit but banned transaction offices to do so.
Under the current law, commercial banks are not allowed to lend gold from May 1, but they are allowed to raise deposit until May 1, 2012. – Stoxplus.com
Tags: vietnam gold, Vietnam gold market, Vietnam gold prices