2023-12-23T07:20:28+00:00
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/ The Ministry of Planning announced, today, Saturday, that all imported gold will be examined and labeled by the Central Agency for Standardization and Quality Control, before entering the Iraqi markets.
The Ministry’s official spokesman, Abdul Zahra Al-Hindawi, said in a statement today that this measure came after Cabinet Resolution No. (23671) of 2023 entered into force as of the first of this month of December.
He added that the Central Agency for Standardization and Quality Control received more than (25) kg of imported gold during the past two weeks in the form of shipments that were imported from outside Iraq, and the agency was able to examine and label all the quantities it received, and deliver them to their owners.
Al-Hindawi stated that the standardization department in the device provided all the requirements for examination and marking in record time, through the use of modern, high-precision devices in this process, noting that the aforementioned Cabinet decision specified that the gold imported must be by a company registered with the Companies Registrar Department in the Ministry of Commerce. It is allowed to transfer commercially through the banking system, provided that the import of gold is exclusively through air ports. The General Authority for Taxes demarcates it, and the Central Agency for Standardization and Quality Control examines and labels it, while the General Authority for Customs undertakes the procedures for protecting it and delivering it to the agency.
The Ministry’s spokesman stressed that the recent measures included in the Council of Ministers’ decision will contribute greatly to reducing fraud, because the imported gold will be sent directly to the Central Agency for Standardization and Quality Control, with customs protection, for the purpose of examining and labeling it, before it enters the markets.
Ion No. 36 of 2023, which aims to ensure the quality and safety of gold being sold in Iraq. The new regulation is part of a broader effort to enhance consumer protection and maintain market integrity.
Al-Hindawi emphasized that the examination and labeling process will help to standardize imported gold, making it easier for consumers to make informed purchasing decisions. This initiative is expected to benefit both consumers and legitimate gold traders by reducing the presence of counterfeit products in the market.
The ministry has urged all importers to comply with the new guidelines to facilitate a smooth transition and avoid any supply disruptions in the market. The initiative underscores the government’s commitment to promoting transparency and quality in all sectors of the economy.