Procedure for Issuing Standard Gold and Silver Bars of the National Bank of Tajikistan into Circulation and Conducting Operations with Them

"Registered"
Ministry of Justice of the
Republic of Tajikistan under
No. 875, dated January 24, 2017.

Amendment "Registered"
Ministry of Justice of the
Republic of Tajikistan under
No. 875 "A", dated October 12, 2018.

"Approved" by the resolution of the Board of the National Bank of Tajikistan under No. 181, dated "28" December 2016.

Amendment "Approved" by the resolution of the Board of the National Bank of Tajikistan under No. 131, dated "4" September 2018.

Procedure for issuing standard gold and silver bars of the National Bank of Tajikistan into circulation and conducting operations with them

This Procedure is developed in accordance with the resolution of the Government of the Republic of Tajikistan dated March 31, 2016, No. 127-4 "On measures to develop the precious metals market in the Republic of Tajikistan" and defines the procedure for issuing standard gold and silver bars of the National Bank of Tajikistan into circulation and conducting operations with them.

1. General Provisions

2. The decision to manufacture and issue standard gold and silver bars of the National Bank of Tajikistan (hereinafter referred to as standard bars) is made by the Board of the National Bank of Tajikistan.

3. Standard bars weighing 5 g, 10 g, 20 g, 50 g, and 100 g are manufactured in special protective packaging at a refining enterprise holding a certificate of the London Bullion Market Association and international quality "good delivery".

4. Special protective packaging serves as a certificate for standard bars and contains the following information:

• certificate number;
• product name;
• manufacturer name;
• standard bar number;
• purity of the standard bar;
• nominal weight of the standard bar in grams.

4. Operations for the purchase and sale of standard bars are carried out by individuals and legal entities (residents and non-residents) in accordance with this Procedure.

5. Information about standard bars, sale prices, and their repurchase prices is posted on the website and other publications of the National Bank of Tajikistan.

6. Sale of Standard Bars

7. The sale of standard bars is carried out by the Cash Service Department of the National Bank of Tajikistan to individuals and legal entities without restrictions. By order of the Chairman of the National Bank of Tajikistan, the sale of standard bars may be assigned to the cash operations departments of the regional branches of the National Bank of Tajikistan.

8. Payment for purchased standard bars is made by buyers only in national currency and in cash form.

9. When purchasing standard bars at the National Bank of Tajikistan, the following documents must be presented:

• by legal entities - a power of attorney and a document confirming the identity of the legal entity's representative;
• by individuals - a document confirming the identity of the individual.

9. The sale of standard bars is carried out with mandatory documentation of cash documents.

10. Cash documents for each type of standard bar reflect the name of the metal, mass, number, and nominal value of the standard bar, the total number of standard bars, as well as the date and total amount of the transaction.

11. Repurchase of Standard Bars

12. The repurchase of standard bars from individuals and legal entities is carried out by the Cash Service Department of the National Bank of Tajikistan without restrictions.

13. When repurchasing standard bars at the National Bank of Tajikistan, the following documents must be presented:

• by legal entities - a power of attorney and a document confirming the identity of the legal entity's representative;
• by individuals - a document confirming the identity of the individual.

13. Only standard bars with undamaged protective packaging are accepted for repurchase.

14. Upon accepting a standard bar, a cash worker of the National Bank of Tajikistan conducts a primary inspection for the integrity of the protective packaging and compliance with established standards.

15. In case of intact protective packaging and absence of other signs raising doubts about its authenticity, the cash worker of the National Bank of Tajikistan accepts the standard bar and pays its value to the owner.

16. In the absence of protective packaging for the standard bar or damage to its integrity, as well as the presence of signs raising doubts about its authenticity, the standard bar, with the consent of its owner, is sent for expertise.

17. The transfer of the standard bar for expertise is documented by an act in accordance with Appendix 1 to this Procedure, in two copies, one of which remains at the National Bank of Tajikistan, and the other is transferred to the owner of the standard bar.

18. Expertise of the standard bar is conducted by experts of the National Bank of Tajikistan within a period not exceeding three working days, to determine the type and authenticity of the precious metal, its percentage content, and compliance with established standards.

19. The owner of the standard bar familiarizes themselves with the expertise conclusion under signature.

20. Standard bars that have passed expertise may be repurchased by the National Bank of Tajikistan as scrap precious metal having the highest percentage content in it.

21. Sale Price and Repurchase Price of Standard Bars

22. The sale price and repurchase price of standard bars are set by the National Bank of Tajikistan in the national currency of the Republic of Tajikistan daily.

23. Calculation and establishment of the sale price and repurchase price of standard bars are carried out by the National Bank of Tajikistan separately for each type of standard bar.

24. Information on the sale and repurchase of standard bars is posted daily on the website of the National Bank of Tajikistan.

25. The sale price of standard bars is set by the National Bank of Tajikistan taking into account the following indicators:

• the price of gold (silver) per 1 troy ounce, determined based on the morning fixing of the London Bullion Market Association of the previous working day;
• actual costs for manufacturing standard bars (minus the cost of the precious metal), including transportation costs, customs clearance, insurance expenses, etc.

25. The National Bank of Tajikistan charges a commission fee of 1 percent of the sale (repurchase) price of the standard bar for servicing operations with standard bars.
26. Taxation of purchase and sale operations of standard bars is carried out in accordance with tax legislation.
27. Losses incurred due to changes in prices in the world market are not compensated to buyers and sellers of standard bars.

Appendix 1

ACT of accepting a standard bar for expertise
"_" ___________ 201 g. Dushanbe

This act is drawn up stating that the cash worker of the National Bank of Tajikistan __________________________________________________________ (last name, first name, patronymic) accepted for expertise standard bar(s) in the amount of _______________ pcs., from ____________________________________ weighing ____________________ grams, (metal and purity) Bar (certificate) No. _________________________________________________ from ____________________________________________________________________ (Full name of the individual or name of the legal entity) contact phone ____________________________________________________ address _________________________________________________________________ (address of the individual or legal entity)

Cash worker
of the National Bank of Tajikistan
_________________________________	____________________
(Full Name)	(Signature)
Full name of the individual
_________________________________	____________________
	(Signature)
Name of the legal entity
_________________________________
(Full Name) of the legal entity's representative	____________________
	(Signature)

Expertise conducted by: __________________________________________________ (Full Name and signature of the person conducting the expertise) EXPERTISE CONCLUSION No. ________ dated "_" ___________ 201 g.:

---

Familiarized with the expertise conclusion: _________________________________ (Full Name and signature of the owner of the standard bar)