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Legal Action for Non-Compliant Sales Borsa Istanbul A.Ş.
Precious Metals and Precious Stones Market Directorate has issued an announcement reminding market participants of the legislative provisions regarding granulated silver sales.
It was emphasized that irregular sales detected in the market will be subject to legal proceedings within the framework of the Decree on the Protection of the Value of Turkish Currency and relevant legal provisions.
Standards and Authorized Entities According to Decree No.
32, standard unprocessed silver must have a purity level of at least 99.9 percent.
In line with the qualities determined by the Ministry, silver must be in the form of bars, ingots, or granules.
It is a legal requirement that transactions within this scope be carried out only through the following entities: Banks Authorized refineries Precious metal brokerage houses Authorized jewelry businesses Sealed Bag and Information Requirements In accordance with the legislation, granulated silver must be offered for sale in sealed bags.
It is mandatory that details such as fineness, weight, refinery information, and production date are fully included on the bag.
It was reported that administrative and legal processes will be initiated under Law No.
1567 for sales that do not comply with these rules.
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Borsa Istanbul Issues Warning Over Non-Compliant Granulated Silver Sales
Borsa Istanbul has warned market participants against the sale of granulated silver through unauthorized channels and in violation of standards, stating that legal action will be taken against such transactions.
