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Dhaka Tribune

Association urges gold traders to increase transparency

The BJA also said if any jewellers violate the guidelines and face legal issues, the association cannot help them

Update : 20 Sep 2022, 05:03 PM

The Bangladesh Jewellers Association (Bajus) recently issued a cautionary notice to traders and customers concerned as part of its initiatives to ensure transparency and accountability in jewellery trade.

The apex trade body of local jewellers requested its traders and sellers to follow its guidelines -- issued to all the stakeholders at the beginning of this month, a statement said on Monday.

Despite following laws, the jewellers often face troubles while buying old or new gold from various sources. For this, all should follow the directives, Bajus noted.

The association, in the notice, advised the jewellers to collect gold resellers' national identity card (NID) photocopies at their own responsibility after examining their original copy.

It also said the jewellers must know about the source of gold jewellery, and the resellers must carry the money receipt of purchase.

Bajus also advised them not to purchase from third party sellers, bypassing the genuine owners of jewellery items.

In case of baggage rule, the gold dealers should obtain photocopies of several documents from the sellers after examining their original passport, visa, arrival and departure seal.

The jewellers must photocopy the documents themselves instead of getting copies from the clients, the notice said.

Among other directives, the trade body also requested them to obtain other documents, like airport declaration related to taxes.

The jewellers must provide sales receipts to the clients and preserve a copy of the receipt, signed by the customers, for at least three years.

Bajus also said if any jewellers violate the guidelines and face legal issues, the association cannot help them.

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