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Circular No. 34/2025/TT-NHNN, comprising 9 chapters and 33 articles, has been developed to provide guidance on the issuance, amendment, supplementation, and revocation of Certificates and Licenses for the production of gold jewelry and fine arts, the trading of gold bars, the production of gold bars, and the export and import of gold. It also covers the allocation of gold export and import quotas, the connection and provision of information by enterprises and credit institutions engaged in gold trading, and the reporting regime as stipulated in Decree No. 24/2012/NĐ-CP of the Government on the management of gold trading activities, as amended by Decree No. 232/2025/NĐ-CP.
The Circular shall take effect from October 10, 2025. Licenses issued prior to the effective date of this Circular shall remain valid until their expiration. The Circular specifies the following:
The deadline for enterprises and credit institutions to begin connecting and providing information to the State Bank of Vietnam, as outlined in Chapter VI of this Circular, is no later than March 31, 2026.
The deadline for enterprises and credit institutions holding licenses for gold bar trading to begin providing listed price information to the State Bank of Vietnam is no later than December 31, 2025.
The establishment, adjustment, and allocation of export quotas for gold bars, import quotas for gold bars, and import quotas for raw gold, as well as the deadline for submitting applications for these quotas in 2025, shall be based on actual conditions and shall not follow the provisions of Clause 3, Article 19, and Article 20 of this Circular.
Nationwide Gold Trading Overhaul: Citizens Urged to Take Immediate Notice
This marks a significant shift in Vietnam’s gold trading market.
Assessing the Impact of Storms, Rain, and Floods on Borrowers’ Loan Status
The State Bank of Vietnam has mandated that credit institutions and branches in affected areas urgently review and assess the status of borrowers to implement support measures for overcoming the aftermath of Typhoon No. 10, ensuring that financial resources reach the intended recipients effectively.
Mandatory Personal Data and Transaction Details Required for Money Transfers Over 500 Million VND Starting November 1st
Starting November 1st, all domestic cryptocurrency transactions of 500 million VND or more, and international transactions of 1,000 USD or equivalent foreign currency, must be reported to the State Bank of Vietnam, as mandated by Circular 27.
Interest Rates on Deposits See Slight Uptick in Early October
The recent slight increase in deposit interest rates by some banks is a seasonal phenomenon, reflecting their proactive efforts to bolster liquidity reserves in preparation for the year-end credit peak.
“Deputy Governor of the State Bank of Vietnam Pham Tien Dung: ‘We Cannot Allow a 15,000 VND Train Ticket to Incur a 1,000 VND Transaction Processing Fee’”
According to the Deputy Governor, regardless of the complexities involved, the ultimate goal is to ensure citizens and businesses can access banking services conveniently and at the most reasonable cost. Eloquent rhetoric holds no value if it fails to translate into practical usage.
