Commercial banks obtain the right to buy precious metals from metallurgic combines 

Commercial banks and jewelry manufacturers obtained the right to purchase precious metals from metallurgic combines, follows from the decree of President of Uzbekistan Shavkat Mirziyoyev.

“Give commercial banks and jewelry manufacturers the right to purchase precious metals (gold and silver) from the JSCs Navoi MMC and Almalyk MMC in the form of dimensional plates, as well as pellets weighing 5 grams or more in national currency, based on prices of the London Precious Metals Exchange fixings (in terms of the net weight of precious metals),” the document says.

Banks will also have the opportunity to sell the acquired precious metals to jewelry manufacturers.

The “Uzstandart” Agency together with the “Uzbekzargarsanoati” Association, NMMC and AMMC within one month was tasked to develop and approve the state standard of dimensional plates, as well as precious metal granules.