The bank confirmed that information recently published on its website about the 'Terms of transaction for buying and selling gold bars' which was a measure taken purely to ensure regulatory compliance, and not an indication of new production licenses.
The announcement detailed that the public posting on October 1 was made in compliance with Clause 8, Article 1 of Decree 232, which amends and supplements Clause 4, Article 12 of Decree 24. This regulation mandates that enterprises and credit institutions trading in gold bars must publicly disclose information regarding the rights and obligations of customers either on their electronic platforms or at transaction offices.
In its statement, the bank announced that this is a mandatory regulation for credit institutions trading in gold bars, which does not mean that ACB is a unit licensed by the State Bank under the new decree to produce gold.
ACB also confirmed its current gold bar trading activities involve two types: SJC gold bars and ACB gold bars (produced before 2012).
Regarding the future production and trading of gold bars under the provisions of the State Bank’s Decree 232, ACB confirmed it is still awaiting the guiding circular and will register its activities in accordance with those forthcoming regulations.
