On June 2, in an official announcement, the State Bank of Vietnam (SBV) disclosed that alongside four State-owned commercial banks - Agribank, BIDV, Vietcombank, and Vietinbank - Saigon Jewelry Company Limited (SJC) would also engage in purchasing gold from the SBV for direct sale to the public.

Simultaneously, on the websites of the four State-owned commercial banks and SJC, the official locations and times for selling gold bars to individual customers were announced.

From 2:30 p.m. on June 3, the five entities mentioned will initiate the sale of SJC gold bars to individual customers. Starting from June 4, sales will begin at 9 a.m.

The venues for selling gold bars are situated within the branch networks of these five entities (as announced on their websites), with specific timeframes allocated for each branch.

Based on the gold purchasing price from the SBV, these entities will determine and publish the selling price of SJC gold bars on their respective websites.

Regarding the gold purchasing process, customers are required to bring their personal identification documents to the designated gold-selling locations of the five entities mentioned above to conduct transactions. They can make payments either in cash or via bank transfer and receive the gold immediately. Electronic invoices will be provided to customers purchasing gold.

The SBV announcement also notes that, except for SJC Company, which is allowed to engage in both buying and selling gold bars with customers, the remaining four State-owned commercial banks will only sell SJC gold bars to individual customers without purchasing gold bars from them.

Moreover, if customers plan to buy a significant amount of gold, they should prepare to comply with legal regulations on anti-money laundering. Customers provide necessary information for declaration or opening accounts at the State-owned commercial banks before conducting transactions. Payment via bank transfer is recommended for transaction convenience.

SGGP