Banks to start selling gold bullion

The Cabinet of Ministers has adopted a decision that approves the rules for the purchase and sale of precious metal bars, spot.uz writes.

Bullion, like coins, will be issued by the Central Bank and sold through commercial banks. Prices will be determined based on international market quotations, the value of the soum against the US dollar, and the margin of the regulator.

However, the Central Bank does not aim to make profits – this bullion, just like coins, is issued to increase the investment opportunities of the population.

Each precious metal bar will have an identification serial number, a certificate, and a seal.

If there is evidence of tampering, the bullion shall be handed over to the security authorities. It may not be returned to the owner or bought back.

The sale of gold bars has been discussed for a long period of time. In particular, the State Tourism Committee has been promoting this idea for several years, but plans and intentions have not yet progressed further.