Banks banned from making profit from new notes in Tet festival

The Governor of the State Bank of Vietnam (SBV) strictly forbid banks and banking staff from supplying traders with new banknotes to make profit in a recently issued document.
New banknotes especially low value types are in high demand for New Year presents or lai shi every Tet festival.
Banks are not allowed to put into circulation newly printed banknotes with the par value of VND5,000 and lower and intact serial number in stock. They can spend used banknotes to meet payment demand of citizens.
The central bank asks its branches and banks in provinces and cities to seriously abide by the Governor’s instructions to ensure safe and thorough operation of the banking system in the Tet holiday.
They should focus on ATM service to meet cash demand of businesses and individuals in a timely manner, prepare for overloading at ATMs in big cities and work with authorized agencies to prevent risks.

By Ham Yen – Translated by Hai Mien

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