Egypt Bans Gold Trade for Unregistered Entities

Ali Al-Moselhi, Egypt’s Minister of Supply and Internal Trade, has issued a new decision, No. 149 for 2023, which prohibits individuals and entities from engaging in gold and precious metal trading, importing, or exporting without proper registration with the Jewelry Hallmarking and Weighing Authority.

The decision also obliges the addressees to notify the Stamps and Scales Authority of any changes or modifications to their activity data.

The decision provides a six-month period for registration with the authority.

Hani Milad Gaid, head of the Gold and Jewelry General Division at the Federation of Egyptian Chambers of Commerce, stated that the decision will directly contribute to maintaining discipline in local markets and safeguarding the rights of traders, consumers, and the state.