Circular No. 33/2025/TT-NHNN Amending and supplementing certain provisions of Circular No. 17/2014/TT-NHNN on classification, packaging, delivery, and receipt of precious metals and gemstones

CIRCULAR

Amending and supplementing certain Articles of Circular No. 17/2014/TT-NHNN

concerning classification, packaging, delivery, and receipt of precious metals and gemstones

 

Pursuant to the Law on the State Bank of VietnamNo. 46/2010/QH12;

Pursuant to the Law on Credit Organizations No. 32/2024/QH15 amended and supplemented by Law No. 96/2025/QH15;

Pursuant to Decree No. 40/2012/NĐ-CP of the Government on currency issuance operations; storage and transportation of valuable assets and securities within the State Bank of Vietnam system, credit organizations, and foreign bank branches;

Pursuant to Decree No. 24/2012/NĐ-CP of the Government on gold business management, amended and supplemented by Decree No. 232/2025/NĐ-CP of the Government;

Pursuant to Decree No. 26/2025/NĐ-CP of the Government on the functions, tasks, powers, and organizational structure of the State Bank of Vietnam;

At the proposal of the Director of the Issuance and Treasury Department;

The Governor of the State Bank of Vietnam hereby promulgates this Circular amending and supplementing certain Articles of Circular No. 17/2014/TT-NHNN of the Governor of the State Bank of Vietnam concerning classification, packaging, delivery, and receipt of precious metals and gemstones.

Article 1. Amending and supplementing Clause 1 of Article 1

"This Circular stipulates the classification, packaging, delivery, and receipt of precious metals and gemstones between the State Bank of Vietnam, credit organizations, and foreign bank branches with each other and with other organizations and individuals."

Article 2. Amending and supplementing certain Clauses of Article 2

2. Amending and supplementing Clause 5 as follows:

"1. Units under the State Bank of Vietnam (hereinafter referred to as the State Bank) include: The Currency Issuance and Treasury Department, Trading Center, State Bank Branches in Regions, and related units."

2. Repealing Clause 3.

Article 3. Amending and supplementing Clause 3 of Article 3

"3. Packaging refers to bags used to press each gold bar; gold bar packaging must be anti-counterfeiting according to standards set by commercial banks, enterprises permitted by the State Bank to produce gold bars, or processing units for the State Bank (hereinafter referred to as processing units)."

Article 4. Amending and supplementing certain Points and Clauses of Article 5

1. Amend and supplement Point a Clause 2 as follows:

"a) Gold is classified as follows:

- Jewelry and decorative gold products are gold products with a purity level of 8 Karat (equivalent to 33.33%) or higher, processed and crafted for ornamental and decorative purposes.

- Gold bars are products made by stamping gold into bars, marked with weight and quality indicators, bearing the code of enterprises and commercial banks authorized by the State Bank to produce them; gold bars produced by the State Bank during specific periods.

- Raw gold is gold in block, ingot, granule, bar, or other forms."

Article 8. Responsibilities for Implementation

"b) Gemstones: Classified according to TCVN 5855:2017."

Article 5. Amending and supplementing certain Points and Clauses of Article 6

1. Amend and supplement Point a Clause 2 as follows:

"a) Precious metals: Weight determined according to legal measurement units such as kilograms (kg), grams (g), milligrams (mg), or tael, ounce (troy ounce), and fen.

Article 8. Responsibilities for Implementation

"b) Gemstones: Quality determined based on chemical composition and usage value, classified according to TCVN 5855:2017, Gemstones - Terminology and Classification."

Article 6. Amending and supplementing certain Clauses of Article 7

2. Amending and supplementing Clause 5 as follows:

"1. Precious metals and gemstones (excluding gold bars and raw gold as specified in Clause 3 and Clause 3a of this Article) shall be packed in plastic bags and sealed at the bag opening. Outside the bag, they must be wrapped in two layers of thick, durable paper. For gemstones, jewelry, and decorative items, they must be lined with cotton, fabric, or soft paper and placed in hard boxes to prevent damage and breakage.

Jewelry and decorative items must be packed individually or in sets. If similar in quality and weight, pack ten pieces into one set, ten sets into one package. Inside the package or box, there must be a certification form and inventory list; outside the package or box, it must be sealed with a label indicating type, classification, quantity, weight, size, quality, name and signature of the delivery team leader (hereinafter referred to as the team leader), treasury officer, date, month, year of packing and sealing."

2. Amend and supplement Clause 2 as follows:

"2. One or more packages or boxes of the same type, classification, and quality shall be packed into a non-rusting metal box, sealed, and lead-sealed. On the seal of the box, clearly indicate the number of packages or boxes, weight, size, quality, name and signature of the team leader and treasury officer, date, month, year of packing and sealing."

3. Amend and supplement Clause 3 as follows:

"3. Regulations on packaging and sealing gold bars and raw gold by the State Bank:

a) Gold bars of the same weight, quality, and code after inspection shall be packed into boxes or transparent plastic bags in lots, each lot containing 100 or multiples of 100, up to a maximum of 500 bars (in cases where gold bars do not meet the lot requirement, they are packed similarly to those that do and the number of bars is clearly indicated on the seal).

The gold bar container is a non-rusting metal box suitable for the quantity of gold in the lot, lined with velvet cloth, with two buttons on the top edge for easy locking, sealing, and lead-sealing.

In each box or bag, there must be a list of codes and serial numbers (if applicable) of the gold bars in the box or bag. Outside the box or bag, it must be sealed, with the seal clearly indicating type, classification, quantity, weight, quality, name and signature of the two inspectors and packers, date, month, year of packing and sealing.

b) Each raw gold ingot is placed in a separate plastic bag. Raw gold ingots of the same weight and quality after inspection shall be packed into boxes in lots, each lot containing 5 or multiples of 5, up to a maximum of 25 ingots (in cases where raw gold does not meet the lot requirement, it is packed similarly to those that do and the number of ingots is clearly indicated on the seal).

The raw gold ingot container is a non-rusting metal box suitable for the quantity of gold in the lot, lined with velvet cloth, with two buttons on the top edge for easy locking, sealing, and lead-sealing.

In each box, there must be a quality certificate from the manufacturer or testing unit, and a list of codes and serial numbers (if applicable) of the ingots in the box. Outside the box, it must be sealed, with the seal clearly indicating type, classification, quantity, weight, quality according to the manufacturer's or testing unit's certificate, name and signature of the two inspectors and packers, date, month, year of packing and sealing.

4. Supplementing Clause 3a and Clause 3b after Clause 3 as follows:

"3a. Regulations on packaging and sealing gold bars and raw gold by credit organizations:

a) Credit organizations' packaging and sealing of gold bars shall be carried out in accordance with the regulations on packaging and sealing of gold bars by the State Bank.

b) Credit organizations shall establish internal regulations for packaging and sealing of raw gold.

3b. Persons whose names and signatures appear on the seal are responsible for the bags, packages, and boxes of precious metals and gemstones that have been sealed."

Article 7. Amend and supplement some points and clauses of Article 8

2. Amending and supplementing Clause 5 as follows:

"1. The classification, inspection, packaging, and handover of precious metals and gemstones must be carried out by the handover team, except for the classification, inspection, packaging, and handover of gold bars and raw gold as prescribed in Section 3 of Chapter III of this Circular by the State Bank of Vietnam."

2. Amend and supplement Point a Clause 2 as follows:

"a) At the State Bank of Vietnam:

- The Director of the Issuance and Treasury Department decides to establish the handover team at the Central Cash Vault in Hanoi (Cash Vault I);

- The Head of the Issuance and Treasury Sub-department decides to establish the handover team at the Central Cash Warehouse in Ho Chi Minh City (Cash Warehouse II);

- The Director of the Trading Department and the Director of the State Bank of Vietnam Branch Area decide to establish the handover team at their respective units."

Article 8. Amend and supplement Clause 5 of Article 9

"5. Members of the handover team have the responsibility to keep confidential information about assets, data, and other related information during the handover process as prescribed by law and to strictly follow the procedures for the handover of precious metals and gemstones as stipulated in this Circular."

Article 9. Amend and supplement Article 12

"1. The team leader shall ensure that all legal and valid documents for the received assets are fully checked as prescribed in Clause 1 of Article 11 of this Circular. The person delivering the physical items according to the seal must provide a detailed list of each item, including the name of each item; quantity, quality, size, and weight of the items (if determinable).

2. The handover team witnesses and guides the person delivering to package, box, and seal the items themselves. Inside the package or box, there must be a detailed list and a handover record attached. The handover record is prepared according to the model set forth in Appendix II issued together with this Circular, clearly stating receipt according to sealed packages or boxes. The seal must clearly indicate: the delivering unit, the deliverer, full name, signature of the packager or sealer (from the delivering side); date, month, year of delivery, signed by the deliverer. The person whose name and signature appear on the seal is responsible for the quantity, quality, size, and weight of the items (if determinable) within the sealed package or box. The receiving unit is not responsible for the quantity, quality, size, and weight of the items within the sealed package or box if it receives them intact."

Article 10. Amend and supplement Clause 1 of Article 15

"1. When handing over precious metals and gemstones, the following types of documents must be complete:

a) Warehouse release order from the authorized authority of the State Bank or credit organization;

b) Warehouse release form;

c) Power of attorney from the recipient or receiving entity (if receiving on behalf of another);

d) Identity card or citizen identity card or electronic citizen identity card or passport of the recipient."

Article 11. Amend and supplement some clauses of Article 17

2. Amending and supplementing Clause 5 as follows:

"1. The State Bank of Vietnam accepts gold bars purchased from credit institutions and enterprises licensed to buy and sell gold bars (hereinafter referred to as credit institutions and enterprises) based on the transaction confirmation document between the State Bank of Vietnam and the credit institution or enterprise; it carries out counting, acceptance, and records the code and serial number (if available) according to the original packaging of the commercial bank or enterprise licensed to produce gold bars and the processing unit.

Credit institutions and enterprises are responsible to the State Bank of Vietnam for the quality and quantity of gold bars sold to the State Bank of Vietnam until the State Bank of Vietnam sells or confirms the quality of these gold bars through inspection.

In cases where it is necessary to re-inspect the quality of gold after counting and accepting according to the original packaging, the State Bank of Vietnam may organize the inspection itself or hire another organization to conduct the inspection; the inspection must be witnessed by a representative of the credit institution or enterprise selling the gold. If the credit institution or enterprise selling the gold does not send a witness, they must notify the State Bank of Vietnam in writing and accept the inspection results."

2. Amend and supplement Clause 2 as follows:

"2. The State Bank of Vietnam accepts gold bar products processed from raw gold according to the gold bar processing contract between the State Bank of Vietnam and the processing unit; it carries out counting and acceptance according to the original packaging of the processing unit.

The processing unit is responsible to the State Bank of Vietnam for the quality and quantity of gold bars processed according to the contract signed with the State Bank of Vietnam until the State Bank of Vietnam sells or confirms the quality of these gold bars through inspection."

3. Amend and supplement Clause 3 as follows:

"3. The State Bank of Vietnam accepts gold bars and raw gold according to import contracts (in cases where the State Bank of Vietnam directly imports) or other documents as prescribed (in cases where the State Bank of Vietnam does not directly import), and accepts according to bars or ingots.

In cases where the State Bank of Vietnam accepts raw gold from commercial banks and enterprises based on the transaction confirmation document between the parties, it accepts according to ingots."

4. Supplement Clause 3a after Clause 3 as follows:

"3a. Credit institutions accept gold bars from customers and accept according to the bar."

5. Amend and supplement Clause 4 as follows:

"4. When accepting gold bars and raw gold in the cases prescribed in Clauses 1, 2, 3, and 3a of this Article, the person accepting must have a power of attorney from the competent authority, and the person accepting must ensure that all legal and valid documents for the assets are fully checked. These documents include: Transaction Confirmation Document/Contract for buying, selling, processing, and importing gold bars and raw gold between the parties; power of attorney from the competent authority of the delivering unit; identity card or citizen identity card or electronic citizen identity card or passport of the deliverer, and other necessary documents."

Article 12. Amend and supplement some clauses of Article 18

1. Amend and supplement Clause 2 as follows:

"2. The State Bank shall deliver raw gold to processing units for processing into gold bars according to the gold bar processing contract between the State Bank and the processing unit, and implement delivery by ingot.

The processing unit shall inspect the quantity and quality test of the raw gold delivered by the State Bank for processing into gold bars under the witness and supervision of the State Bank."

2. Amend and supplement Clause 3 as follows:

"3. The State Bank shall deliver raw gold according to the export contract (or entrusted export contract) between the State Bank and the foreign partner in accordance with the provisions of the contract.

In case the State Bank delivers raw gold to commercial banks, enterprises based on the transaction confirmation document for purchase and sale transactions among the parties, it shall implement receipt by ingot."

3. Add Clause 3a after Clause 3 as follows:

"3a. Credit organizations shall deliver gold bars to customers, and implement delivery by bar."

4. Amend and supplement Clause 4 as follows:

"4. When delivering gold bars and raw gold for the cases specified in Clauses 1, 2, 3, and 3a of this Article, there must be complete documents as prescribed in Clause 1 of Article 15 of this Circular and the transaction confirmation document/Contract for purchase, sale, processing, export of gold bars and raw gold among the parties."

Article 13. Amend and supplement some points and clauses of Article 19

1. Amend and supplement Point c Clause 1 as follows:

"c) Guide the procedures for delivering and receiving gold bars and raw gold at the State Bank."

2. Amend and supplement Clause 3 as follows:

"3. The State Bank Inspectorate shall be responsible for guiding the control of the organization and implementation within the State Bank system."

Article 14. Amend and supplement some clauses of Article 20

2. Amending and supplementing Clause 5 as follows:

"1. Credit organizations shall base on TCVN 5855:2017, Precious Stones - Terminology and Classification, and any subsequent amendments, supplements, or replacements thereof, and the provisions of this Circular to issue internal procedures and organize the classification, packaging, delivery, and receipt of precious metals and gemstones within their systems."

2. Amend and supplement Clause 2 as follows:

"2. Credit organizations granted licenses for producing gold bars; trading in the purchase and sale of gold bars; exporting and importing gold bars; importing raw gold shall base on the provisions of this Circular to issue internal procedures and organize the delivery and receipt of gold bars and raw gold within their systems, as well as the delivery and receipt of raw gold with customers and partners."

Article 15. Amend and supplement Article 22

"The heads of relevant units under the State Bank, credit organizations, foreign bank branches, and related organizations and individuals shall be responsible for organizing the implementation of this Circular.

Article 16. Replace Appendix

Replace Appendix II issued together with Circular No. 17/2014/TT-NHNN of the Governor of the State Bank of Vietnam on the classification, packaging, and delivery of precious metals and gemstones with Appendix II issued together with this Circular.

  Article 17. Implementation Provisions

1. This Circular takes effect from November 15, 2025.

2. The heads of relevant units under the State Bank, credit organizations, foreign bank branches, and related organizations and individuals shall be responsible for organizing the implementation of this Circular./.