Borsa Istanbul Issues Regulatory Warning Over Granulated Silver Sales

Regulatory Framework and Authorized Entities The Borsa Istanbul A.Ş.
Precious Metals and Precious Stones Market Directorate has issued an important announcement reminding market participants of the legislative provisions regarding granulated silver sales.
The statement detailed the legal framework and rules governing the trade of standard unprocessed silver.
Under Decree No.
32 on the Protection of the Value of Turkish Currency, standard unprocessed silver must have a minimum purity of 99.9% and be in the form of bars, ingots, or granules as specified by the Ministry.
The trade of these products can only be carried out by refineries licensed by the Ministry of Treasury and Finance, entities included in Borsa Istanbul's published refinery list, or through products manufactured by the General Directorate of the Mint and Stamp Printing House.
Inspections and Legal Actions According to reports submitted to the Ministry and investigations conducted online, it has been determined that granulated silver is being sold in small transparent bags or plastic jars in violation of regulations.
Borsa Istanbul stated that legal proceedings will be initiated under Law No.
1567 for such irregular transactions.
According to the legislation, these transactions can only be conducted by banks, authorized refineries, precious metal brokerage houses, and jewelry businesses authorized by the Ministry.
It was emphasized that transactions carried out through unauthorized sales channels and using non-standard packaging are being closely monitored.