The International Financial Services Centres Authority (IFSCA) has issued a circular on January 01, 2026, permitting eligible SEZ units and Advance Authorisation holders to import gold and silver through the India International Bullion Exchange (IIBX).
The following has been stated namely: -
• The framework integrates the entities into the IIBX bullion ecosystem, subject to compliance with IFSCA regulations and applicable Foreign Trade Policy norms, facilitating transparent pricing, standardised procedures, and ease of participation.
• The circular aligns with existing RBI guidelines on advance remittances for bullion imports, requiring authenticated IIBX pricing documents for foreign currency remittance and ring-fencing of advance payment accounts to ensure funds are utilised or returned within specified timelines.
• Import participants must adhere to Anti-Money Laundering (AML), Counter-Terrorist Financing (CFT), and Know Your Customer (KYC) guidelines, and coordinate with clearing banks, bullion trading/clearing members, and depositories for settlement and compliance.
• By enabling SEZ and Advance Authorisation holders to access international bullion imports via IIBX, the circular aims to broaden market access, enhance price discovery, and strengthen India’s role in global bullion trade, while ensuring regulatory oversight and market integrity.
[Notification no. - IFSCA-PMTS/10/2023-Precious Metals/2026/1]
