SJC Company joins gold market stabilization with 4 banks

Late afternoon on June 2, the State Bank informed that together with 4 state-owned commercial banks (Agribank, BIDV, Vietcombank and VietinBank), Saigon Jewelry Company Limited - SJC will participate in buying gold from the State Bank of Vietnam to sell directly to people.

This is the 5th unit participating in gold trading under this plan of the State Bank, contributing to the determination to implement the Government's direction on bringing domestic gold prices closer to world gold prices.

SJC is a 100% state-owned gold trading enterprise under the City People's Committee, with over 35 years of experience in the gold trading sector, also participating in gold trading. SJC has a distribution network of more than 200 stores, 43 official agents, of which 36 stores are licensed to trade SJC gold bars.

SJC is licensed by the State Bank to produce gold bars and is responsible for the quality of SJC gold bars. SJC's participation will add to the number of units participating in supplying gold directly to the people.

The State Bank also noted that state-owned commercial banks only sell SJC gold bars to individual customers and do not buy SJC gold bars from customers. SJC Company conducts all transactions of buying and selling SJC gold bars.

The sale of gold by state-owned commercial banks and SJC Company is to ensure the implementation of the goal of stabilizing the gold market according to the policy of the Government and the State Bank of Vietnam, not for profit.

In case of planning to buy gold in large quantities, to ensure compliance with anti-money laundering regulations, customers should prepare information to declare or open an account at a state-owned commercial bank before the transaction or make payment by bank transfer for convenience and speed in the transaction.

Currently, the websites of 4 State-owned commercial banks and SJC Company have officially announced the location and time of selling gold bars to individual customers, mainly in Hanoi and Ho Chi Minh City.

For SJC Company, the sale of gold bars will be carried out in Hanoi, Ho Chi Minh City, Hai Phong, Ha Long-Quang Ninh, Nha Trang, Hue, Quang Ngai, Bien Hoa (Dong Nai), Can Tho, Bac Lieu, Ca Mau. Based on the purchase price of gold bars from the State Bank, state-owned commercial banks and SJC Company will determine and announce the selling price of SJC gold bars on the websites of state-owned commercial banks and SJC Company and at the above gold selling locations.

To buy gold, the State Bank said, customers bring their required identification documents directly to the above gold selling locations to make transactions, make payments in cash or by bank transfer and receive gold immediately. Sales invoices are provided to customers buying gold in the form of electronic invoices.