On December 28, 2023, the Governor of the State Bank of Vietnam issued Circular 19/2023/TT-NHNN regulating the supervision of money destruction of the State Bank.
Accordingly, the supervision of money destruction by the State Bank must comply with the following principles:
– Supervision of money destruction is carried out at locations and destruction facilities of the State Bank or as decided by the Governor of the State Bank (hereinafter referred to as the Governor).
– Supervision of destruction of money that does not meet circulation standards is carried out at the stages of counting and selecting samples before organizing destruction, counting money for destruction, and completely cutting (or cooking) the money for destruction into scrap. Whether.
– Supervision of destruction of printed and minted money is carried out at the stages of delivery and receipt of printed and minted money between the printing and minting facility and the Destruction Council at the time of delivery and counting of printed and minted money. and completely destroy (format or melt) printed and minted money into scrap.
This Circular takes effect from February 11, 2024.