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Gold policy approved by cabinet committee

  • Published at 10:43 pm May 23rd, 2018
  • Last updated at 10:43 pm May 23rd, 2018
Tribune File Photo

The government has approved the Gold Policy 2018 to ease the import and export of the precious metal as well as ensure transparency in gold trading in the country.

The policy was approved on Wednesday at a meeting of the Cabinet Committee on Economic Affairs (CCEA) at the Cabinet Division, with Finance Minister AMA Muhith as chair.

After the meeting, Muhith said the committee has approved the gold policy to ensure accountability in the gold business.

Under the policy, the government will provide all sorts of support, including cash incentives and land in the special economic zones, to gold importers and exporters.

The Bangladesh Bank will appoint dealers for importing gold bars to meet the country’s demand.

The dealers will be allowed to import gold through bonds, but for that they will have to get bond licences in line with the existing law.

They will also have to inform the central bank about their foreign currency requirements toimport gold and will have to obtain no-objection certificates (NOC) from the Bangladesh Bank.