Extensive regulation of gold trading

The Ministry of Treasury and Finance has made changes to the Decree No. 32 on the Protection of the Value of the Turkish Currency. The regulation introduced comprehensive regulations regarding gold trade. Comprehensive changes were made to the Decree No. 32 on the Protection of the Value of the Turkish Currency regulating the import, export and domestic sales of precious metals. With the Decree amending the Decree No. 32 on the Protection of the Value of the Turkish Currency published in today’s Official Gazette of the Presidency, the export or import of precious metals, stones and goods from Turkey within the principles of the foreign trade regime will be free. According to the new regulation, the import of standard and non-standard processed precious metals can only be made by the Central Bank and precious metal intermediary institutions. These intermediary institutions will be obliged to deliver the precious metals they import within this scope to Borsa İstanbul AŞ within 3 business days. The import of non-standard unprocessed precious metals and processed precious metals within the scope of the inward processing regime, and precious stones and goods within the principles of the foreign trade regime will be free to Turkey.