Bangladesh Bank on Wednesday said that no business entity would be allowed to import jewellery items or precious metal to the country for business purpose without having a dealership licence provided by the bank.
The central bank on December 1 started providing dealership licence to gold dealers to facilitate the import of the metal, ensure transparency in trade and prevent smuggling.
But some organisations without having dealership licence also imported jewellery items or precious metal for commercial purpose, hampering the competitive edge of the authorised gold dealers, said the Bangladesh Bank officials.
Following the request from the Bangladesh Bank licence-holding god dealers, the central bank issued the circular Wednesday, blocking the scope of importing gold by businesses entities without having licence.
The central bank so far provided licence to 19 entities to import gold from aboard complying its regulations.
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