Friday, June 16, 2017
The NGO CENADEP, a member of the Coalition of Civil Society (Civil Society Coalition), said it is still boycotting the Kimberley Process (KP), despite claims that she will attend the plenary session of the organization in Dubai, starting on 13 November.
Ahmed Bin Sulayem (Ahmed Bin Sulayem), the chairman of the KP in 2016 by the United Arab Emirates (UAE), said on October 22 that the organization CENADEP will attend the meeting, referring to a letter he received from the Alberta Kabuyi Muyebala (Albert Kabuya Muyebal) , representative CENADEP in KP.
Civil society boycotted the chairmanship of UAE in the CP due to the inability of the country to solve the problems with its trade in rough diamonds, such as the overestimation of the re-export of diamonds and the lack of interaction with the coalition. Bin Sulayem recently appealed to civil society to attend the plenary session, outlining the efforts made to respond to the concerns of the coalition.
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For the normal functioning of the gold monetization scheme proposed by the Government of India, you need to create banks that specialize in precious metals operations, noted representatives of existing banks. On it informs edition Bullion Bulletin.
However, it is also necessary to clarify the monetization scheme itself. It is unclear how the situation will be applied on the taxation in the scheme, and, in addition, there are questions about the possibilities of assay centers and other difficulties.
Meanwhile, bankers point to the risks associated with the collection and probing the centers of gold, logistics, factors the value of gold, as well as the size of the commission.
Neerdzha Nigam (Neerja Nigam), Deputy Director General for Precious Metals of the State Bank of India (State Bank of India), said, "monetization scheme Customers are worried that after the expiry of warehouses gold they can not go back and, for example, if they withdraw. gold deposit in cash and gold imports to be banned, they can not buy this metal again. "
"I think (the Ministry of Finance and RBI) should work together on this issue after his explanation, we will discuss only the issues of taxation, which, according to authorities, will be resolved within 3-4 weeks." - she adds.
Nigam proposed to introduce the possibility of dematerialization of gold deposits and allow their transfer. She believes that through these measures, the scheme will benefit.
In addition, it is proposed to set up a bank for transactions in precious metals based on the National Housing Bank.
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