Kathmandu. Nepal Rastra Bank has stated that it will not charge any fee from the businessmen when giving recommendations for the purchase of gold from commercial banks.
The National Bank issued a notice on Tuesday stating that the association and federation will not be allowed to charge any recommendation fee or fee when recommending the businessmen to purchase gold from commercial banks.
The notice issued by the National Bank states, ‘There is a ‘Procedure for the Import and Sale and Distribution of Gold, 2068′ in relation to the import and sale and distribution of gold and as per the provision in Section 14 of the said procedure, there is a provision that the Federation of Gold Business Associations shall not charge any recommendation fee or fee when recommending the businessmen to purchase gold from commercial banks. Therefore, the Federation of Gold Business Associations providing recommendations for the purchase of gold and the businessmen receiving recommendations shall comply with the said provision, Section 12 of the Foreign Exchange (Regulation) Act, 2019 and the Gold This notice has been published in exercise of the authority granted by Section 14 of the Procedures for Import and Sale and Distribution, 2068.’
Informing that as per the existing provisions in the Procedures for Import and Sale and Distribution of Gold, 2068, there is a provision that no fee can be charged for gold purchase recommendations, the National Bank has also urged the associations, federations and businessmen taking recommendations to comply with this provision.
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