The Governor of the State Bank of Vietnam shall make decisions on printing and minting of money in circulation, new money unissued

According to Article 4 of Decree No. 40/2012/NĐ-CP of Vietnam’s Government, depending on the annual forecast about the demand for cash of the economy, the need for money issue reserve and the need for replacement of money unfit for circulation, the Governor of the State Bank shall make decisions on the mechanism and volume of the printing and minting money in circulation.

The State Bank shall formulate and submit the project of printing and minting of new kinds of money not yet issued for supplementing or replacing money in circulation to the Prime Minister for approval. This project must contain the designs, denominations, sizes, weight, pictures, patterns and other features of such new kinds of money.

Concurrently, Article 5 of Decree No. 40/2012/NĐ-CP stipulates that the State Bank shall organize the design of money and ensure that they are aesthetic, distinctive, able to represent national culture and follow the world’s money design trend. The design of money must suit the materials and the printing technology; ensure high durability and anti-counterfeiting capacity; and ensure convenience for the use, preservation and handling of money.

Note: The State Bank shall act as owner of the copyright on the approved designs of all kinds of money. The artists who directly create the approved money design shall be recognized as the authors or co-authors and shall be paid under the law on intellectual property.

View more details at Decree No. 40/2012/NĐ-CP of Vietnam’s Government, effective from June 26, 2012.

Le Vy

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