Latest topics
VIETNAM Gold Trading on Offshore Accounts Can Be Allowed
Page 1 of 1
VIETNAM Gold Trading on Offshore Accounts Can Be Allowed
by 1alaskan Wed May 16, 2012 4:46 pm
Gold Trading on Offshore Accounts Can Be Allowed
VietFinanceNews.com - Individuals and institutions can re-open their international gold accounts if they receive permission of the Prime Minister and are granted license by the SBV.
The State Bank of Vietnam (SBV) has recently released the draft regulation to amend the ordinance on foreign exchange control, stipulating that individuals and institutions can open their international gold accounts if they receive permission of the Prime Minister and are granted license by the SBV.
Besides, the central bank is allowed to intervene to stabilize the local gold market as prescribed.
At end-Mar/2010, the central bank required credit institutions to close their international gold accounts. However, the domestic market was confronted with a gold shortage which has resulted in a significant gap between domestic and world prices in 2011.
The SBV then permitted the Saigon Jewelry Company Limited (SJC) and 5 selective commercial banks were to sell gold in deposits and re-open their international gold trading accounts as a hedge; a move expected to help meet local gold thirsty and pull down the local gold premium after various attempts failed to tame domestic gold frenzy, including repeatedly extending gold quota.
http://www.vietfinancenews.com/2012/05/gold-trading-on-offshore-accounts-can.html
VietFinanceNews.com - Individuals and institutions can re-open their international gold accounts if they receive permission of the Prime Minister and are granted license by the SBV.
The State Bank of Vietnam (SBV) has recently released the draft regulation to amend the ordinance on foreign exchange control, stipulating that individuals and institutions can open their international gold accounts if they receive permission of the Prime Minister and are granted license by the SBV.
Besides, the central bank is allowed to intervene to stabilize the local gold market as prescribed.
At end-Mar/2010, the central bank required credit institutions to close their international gold accounts. However, the domestic market was confronted with a gold shortage which has resulted in a significant gap between domestic and world prices in 2011.
The SBV then permitted the Saigon Jewelry Company Limited (SJC) and 5 selective commercial banks were to sell gold in deposits and re-open their international gold trading accounts as a hedge; a move expected to help meet local gold thirsty and pull down the local gold premium after various attempts failed to tame domestic gold frenzy, including repeatedly extending gold quota.
http://www.vietfinancenews.com/2012/05/gold-trading-on-offshore-accounts-can.html
*****************
Being defeated is often a temporary condition. Giving up is what makes it permanent.
Marilyn Vos Savant
Yesterday would have been better, but today is a good day
Remember as always, JMHO
Rantings from just north of sixty
1alaskan- Elite Member
- Posts : 4668
Join date : 2011-06-21
Age : 41
Location : Planet far far away
Page 1 of 1
Permissions in this forum:
You cannot reply to topics in this forum
» Go Russia
» Go Russia
» Textbook Tony
» The Rockefellers and the controllers are freaking out right about now
» Phony Tony sez: Full Steam Ahead!
» Dave Schmidt - Zim Notes for Purchase (NOT PHYSICAL NOTES)
» Russia aren't taking any prisoners
» Deadly stampede could affect Iraq’s World Cup hopes 1/19/23
» ZIGPLACE
» CBD Vape Cartridges
» Classic Tony is back
» THE MUSINGS OF A MADMAN
» Minister of Transport: We do not have authority over any airport in Iraq
» Did Okie Die?
» Hello all, I’m new
» The Renfrows: Prophets for Profits, Happy Anniversary!
» What Happens when Cancer is treated with Cannabis? VIDEO
» An Awesome talk between Tucker and Russell Brand
» Trafficking in children