Mr. Dao Cong Thang - Acting General Director of Saigon Jewelry Company - SJC said that according to the State Bank's proposal, the deadline to overcome the shortcomings is October 30, 2025. To date, 3 recommendations have been completed, the remaining 2 recommendations are in the process of completion.
Regarding compliance with legal regulations in gold trading activities, the company has reissued regulations on the buying and selling and trading of gold. Previously, during the transaction process, some customers only read the citizen identification card number instead of presenting the original, leading to errors in recording information. After being discovered by the inspector, the company adjusted and issued a new procedure, requiring customers to provide a photocopy of their citizen identification card and a clear address when making the transaction. The new regulation was issued, on June 10, 2025, and reported to the State Bank.
The company has fully implemented the reporting information regime to the foreign exchange reserves - State Bank, including daily reporting and weekly summary reporting in accordance with the prescribed form.
"Prevention of money laundering has not been as methodical as required. After that, the company sent a document requesting the Department of anti-money laundering to guide and train. Currently, the company is developing processes including: anti-money laundering regulations, customer recognition processes and handling processes when detecting suspicious signs" - Mr. Dao Cong Thang said.
Regarding compliance with regulations on accounting, invoices, and taxes, in the initial stage of applying electronic invoices, some sales staff are still confused, do not implement correctly, and do not know how to handle when detecting errors. The company is rebuilding the process of adjusting and canceling electronic invoices for this process.
Regarding taxes, the company has paid additional fees as required. In addition, some transactions were previously recorded as buying and selling, but were essentially processing, and have been adjusted to the nature of the contract according to regulations.
In addition, at the request of the State Bank, the company has developed and issued a process to establish daily gold buying and selling prices, based on price comparison methods and current legal basis.
