Regulatory Alerts2009-08-26 | 129044Regulation on Commercial Bank Operations with Precious Metals
The National Bank of the Kyrgyz Republic issued this regulation to establish mandatory requirements for commercial banks conducting operations with gold, silver, and platinum bullion. It defines permitted activities, including anonymous and safekeeping metal accounts, while strictly limiting operations to LBMA-standard refined bars and prohibiting dealings with gemstones. The document enforces rigorous internal controls, daily reporting of open position limits, and specific technical standards for weighing and assay equipment to ensure market stability and compliance.
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