STATE BANK OF VIETNAM
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SOCIALIST REPUBLIC OF VIET NAM
Independence - Freedom – Happiness
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No. 1623/QD-NHNN
Hanoi , August 23, 2012
 
DECISION
ON THE GOLD BAR PRODUCTION ORGANIZATION AND MANAGEMENT OF THE STATE BANK OF VIETNAM
THE GOVERNOR OF STATE BANK
Pursuant to the Law on the State Bank of Vietnam No.46/2010/QH12, of June 16, 2010;
Pursuant to the Law on Credit Institutions No.47/2010/QH12, of June 16, 2010;
Pursuant to the Government's Decree No. 96/ 2008/ND-CP of August 26, 2008, defining the functions, tasks, powers and organizational structure of the State Bank of Vietnam;
Pursuant to the Government’s Decree No. 24/2012/ND-CP, of April 03, 2012 on management of gold business; 
At the proposal of Director of Foreign Exchange Management Department;
 
DECIDES:
SECTION 1. GENERAL REGULATION
Article 1. Scope of regulation
This Decision regulates on gold bar production organization and management of the State bank of Vietnam (hereinafter referred to as the State bank).
Article 2. Principle of gold bar production organization
1. The State bank decides gold bar production on the basis of target on operation of the monetary policy and gold bar supply and demand in the market.
2. The State bank assigns the SaiGon Jewelery one-member limited liability company – SJC (hereinafter referred to as SJC) to process gold bars under provisions on this Decision.
3. The State bank shall decide limited level, production time and gold material source used as raw materials for gold bar production organization.
4. The State bank shall organize production of gold bars with 99.99% content, engraved letters and figures indicating weight, quality and symbol code of SJC (hereinafter referred to as SJC gold bar). The State bank decides weight of produced SLC gold bars in each period.
5. The State bank approves cost of SJC gold bar processing each period on the basis of processing expense, expected profit and applied taxs.
Article 3. Gold source used as raw materials for SJC gold bar production
1. Gold materials of the State bank.
2. Gold bars that are permitted by the State bank to product in each period, except for SJC gold bars (hereinafter referred to as non-SJC gold bars).
3. SJC gold bars produced and processed by SJC, possessing at least one of following characteristics:
a) Insufficient weight, be cut/ be ground, abrasive;