State Bank of Vietnam urge for cash sterilization to curb COVID-19 spreading

The State Bank of Vietnam sent an urgent request Thursday that all used banknotes must be disinfected and stored for a while before re-entering circulation.

Le Hang

March 14, 2020 | 08:36

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state bank urge for cash sterilization to curb covid 19 spreading

Online transactions are encouraged amid the COVID-19 outbreak (Photo: Kien Long Bank)

Accordingly, Vietnamese credit institutions and foreign banks’ branches in provinces and cities must instantly implement anti-epidemic measures in cash transactions, such as equipping hand sanitizer, medical masks, gloves and protective gear, for those officials in direct contact with paper bills.

Credit institutions are also required to sanitize, clean their transaction areas, vaults and ATMs regularly. Measures to sanitize and sterilize collected cash before storing or submitting to the State Banks must also be taken.

The urgent request also encourages banks to minimize crowding while boosting online meetings and online banking services as well to reduce face-to-face transactions. In the meantime, provincial and municipal branches must consider working with credit institutions, associations, and enterprises.

Numbers of other countries around the globe also take similar steps

Last month, both China and Korea began disinfecting and isolating used banknotes as part of their efforts to stop the spread of the virus. Officials used ultraviolet light or high temperatures to sterilize the bills, then sealed them for 14days, before releasing them back into circulation.

French Louvre Museum this week has just banned cash payments, while Fed branches across the US are also quarantining dollars from Asia fro 7-10 days.

Earlier at the beginning of March, The World Health Organization (WHO) has warned the coronavirus could remain on money for days after being exposed to it and advised people to wash their hands and stop using cash if possible. customers who use cash bills should consider using contactless payments instead as coronavirus (Covid-19) may cling to the surface of paper bills for multiple days.

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