The International Financial Services Centres Authority (IFSCA) on December 11, 2023, issued the notification regarding the Import of gold and silver by Qualified Jewellers through India International Bullion Exchange.
The following has been stated namely: -
• A consolidated Circular for the import of gold and silver has been issued.
• To more accurately represent the nature of participation of Limited Purpose Trading Members (LPTMs) as clients, it has been decided to rename ‘LPTM’ as ‘Special Category’ client.
• The entities fulfilling the prescribed conditions shall be considered as ‘Qualified Jewellers’ and shall be permitted to transact on IIBX as clients of Bullion Trading Members or as ‘Special Category’ clients for the import of gold and silver.
• IBX shall put in place necessary systems for issuance of an IIBX authenticated document carrying details of indicative price of gold/silver for the quantity and/or the quality (purity), intended to be imported by the Qualified Jeweller through IIB
[Notification No. 329/IFSCA/Bullion MIIs/2023-24/02]
