Site icon Ethiopian Legal Brief

National Bank of Ethiopia Directive on Gold Trading Directive

NAT10NAL BAN K 0F ETHIOPA

DIRECTIVE NO. 636/2021

AMENDMENT TO DIRECTIVE ON GOLD TRADING

Whereas   there   is a need   to create   the necessary   legal   framework    for  the orderly export and domestic sale of gold legally mined and traded;

Whereas the sale of gold, both as a physical tradable  commodity,  and  monetary  should   be  conducted   in  such   a   way   that   the   commodity   is  transacted    to support the economic activity and the foreign exchange earnings of the country;

Whereas the creation of market for gold provide s a multitude of employment opportunities, income for gold smith shops and societal needs to be supported;

Now, therefore,   in accordance    with Article 21 (5) (b)   and 27 (2) of the national Bank of Ethiopia Establishment (as Amended) Proclamation No. 591/2008 these Directives is hereby issued.

Exit mobile version