The State Bank of Vietnam (SBV) is drafting a circular to replace Circular 14/2023/TT-NHNN on internal control at non-bank credit institutions, proposing new rules on outsourcing customer identification, liquidity stress testing and model risk management. Outsourcing would cover a wider range of providers, including individual experts, but exclude risky decisions, and institutions would need to assess third-party dependence, substitutability, backup providers and business continuity plans. Institutions would have to run liquidity stress tests under at least three scenarios and validate models before use, after material changes and at least annually. The rules are modeled on Circular 83/2025/TT-NHNN for commercial banks and aim to address risks arising from third parties and models.
Summary written by Upside AI from the original article. Read the source for full details.
Original headline: NHNN đề xuất quy định mới về thuê ngoài, kiểm soát rủi ro tại công ty tài chính
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Related tickers and likely impact
VNINDEX
• NeutralRelevance: low
| Market | Vietnam stocks |
|---|---|
| Close on 10/26/2026 | 1,763.55 |
| Change that session | -0.60% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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On 16/10/2026, the Government issued Decree No. 390/2026/NĐ-CP amending Decree No. 24/2012/NĐ-CP on gold business management, effective the same day. Producing, processing and trading gold jewellery and decorative art are no longer conditional business lines, the related conditions and certificates are abolished, and oversight shifts from prior to post-inspection. Gold bar production and trading still require a State Bank of Vietnam licence. Gold purchases or sales of 5 million VND or more in a single day must be paid by non-cash means, down from 20 million VND previously, aimed at improving transparency and preventing tax evasion.
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Decree 390/2026/NĐ-CP, effective October 16, 2026, lowers the daily threshold for mandatory non-cash payment on gold transactions to 5 million VND, down from 20 million under Decree 232/2025/NĐ-CP. The rule applies equally to gold bars and jewelry and extends to transfers and e-payments. The State Bank of Vietnam says the aim is to strengthen customer verification and improve market transparency. Expert Nguyễn Quang Huy of Nguyễn Trãi University says payment records help reconcile transactions with invoices, revenue and tax obligations, though cash transactions are not automatically suspicious. The decree also requires businesses to build systems to store and link data on imported raw gold and adjusts import licensing, but this is not an unlimited import mechanism.
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- Gold buying and selling from 5 million dong must be paid without cash
From October 16, customers buying or selling gold worth 5 million dong or more in a day must pay by non-cash means, down from the previous 20 million dong threshold. Decree 390/2026/NĐ-CP, signed by Deputy Prime Minister Nguyễn Văn Thắng, also removes conditional business requirements for producing, processing and trading gold jewellery and decorative art, so producers no longer need a State Bank eligibility certificate. Gold bars remain a conditional business requiring a State Bank licence. For firms processing gold for foreign partners, the State Bank may consider raw-gold import licences, while companies must build data systems on gold imports, exports, trading, use and inventory that connect to the regulator.
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Under Decree 390/2026, effective October 16, gold purchases and sales of 5 million dong or more per day must be paid by non-cash means, down from the previous threshold of 20 million dong. The decree also sets rules for licensing raw gold imports for jewelry and decorative-art makers with foreign processing contracts, and calls for an information system to manage raw gold data. The State Bank of Vietnam will inspect gold trading activities, while the Ministry of Science and Technology is responsible for national standards and quality measurement of gold. The decree repeals earlier rules on producing, processing and trading jewelry and decorative gold, so production certificates issued before October 16 are no longer a requirement. Pending applications for new, amended or supplemented certificates will be terminated by the State Bank, which will notify the applicants.
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