The composition of the Money Disposal Council of the State Bank of Vietnam?

To be specific:, Circular 03/2020/TT-NHNN provides that annually, the Governor of the State Bank of Vietnam decides to establish the Currency Destruction Council of the State Bank of Vietnam (hereinafter referred to as the Destruction Council), consisting of:

Illustration (Source: Internet)

- Chairman: Director of the Department of Issuance and Treasury;- 01 (one) Standing Vice Chairman: Deputy Director of the Department of Issuance and Treasury directly in charge of the Northern Destruction Cluster;- 01 (one) Vice Chairman: Deputy Director of the Department of Finance – Accounting;- 01 (one) Vice Chairman: Branch Director of the Department of Issuance and Treasury at Ho Chi Minh City directly in charge of the Southern Destruction Cluster;- Members include several Heads and/or Deputy Heads of the Department of Issuance and Treasury; Deputy Branch Director, several Heads and/or Deputy Heads of the Branch of Issuance and Treasury at Ho Chi Minh City. Among them, there is one member who is also the secretary of the Destruction Council and two members who are also secretaries at the Northern Destruction Cluster and the Southern Destruction Cluster.

In addition, assisting the Destruction Council are dedicated task forces; each destruction cluster is organized into 04 (four) teams as prescribed in Article 10 of this Circular.

This Circular stipulates that the Destruction Council is responsible for directing and organizing the destruction of money at the destruction clusters as specified in this Circular under the supervision of the Supervisory Council, ensuring absolute safety in the destruction of money.

Moreover, the Destruction Council must take prompt measures to handle any existing issues and shortcomings in the money destruction process; organize summation, assessment and suggest forms of commendation and penalty in the money destruction work; preserve records and documents related to the money destruction work as prescribed.

More details can be found in: Circular 03/2020/TT-NHNN, effective from May 15, 2020.

Thu Ba

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