Gucca bailout in hopes of charging gold imports

Gold News

Tushar Kanti Bhattacharya, the owner of Sylhet’s Anup Gold Industries, applied for a gold import dealer’s license or certificate with a non-bailable security of Tk 1 lakh. But in the end, he did not get the dealer’s license, the opposite was Tk 5 lakh. His hand in the head. Because he has little capital. He applied for the money in the hope that he would get a license.

Sylhet snowfall is the same situation with the 25 institutions of different regions of the country. Applicants for the dealer’s license lost both of these companies involved in the gold business. Bangladesh Bank has applied for a license to import gold. Bangladesh Bank has granted dealership license to one of these companies including one bank. And the remaining 20 companies did not get a license. These companies are now seeking a refund of the deposit money. But central bank officials have been unable to provide a positive answer.

If you want to know, Anupar Gold Industries’ owner Apurba Kumar Dali He said, “I applied for a license with a security of Tk 5 lakh. I did not get the license, the money was gone. As a result, I am in danger now. ”

Bangladesh Bank is currently stuck with Tk 8.5 million of the 27 companies applying for gold import licenses. However, the application that Bangladesh Bank had called for the appointment of a gold import dealer said that the deposit of license fee was Tk. Now, the money traders who are not getting licenses even after applying, have been trapped due to ‘refundable’ conditions.

Rezaul Karim, the owner of Rizvi and Maliha International, who was not licensed despite the application, said, “I am an entrepreneur in the information technology sector. For the first time, Bangladesh Bank is issuing a license to import gold. But now I am not getting the license, the money is stuck. ‘

Gold import permit
The company applied for a bail of Tk 1 lakh
Received 3, 20 secured securities

Asked about this, Jihad Hossain, executive director and spokesperson of the central bank, told First Light, “The condition of the application was that the deposit money was refundable. The companies applied according to that condition. So now there is no opportunity to return the deposit. ”But he also said,“ In the first step, the company has been licensed to import gold. The remaining 25 companies were behind the consideration of which 5 companies got licenses. However, in the future when the license is renewed again, the previous applications will also be considered.

Bangladesh Bank on March 3 last called for the appointment of a gold import dealer. Accordingly, applications were received from interested institutions and banks till September 7. To ensure good governance and accountability of the gold trade, the Ministry of Commerce made the policy last year. In light of that policy, Bangladesh Bank initiated the issuance of a dealer license to allow the traders to illegally import gold. The dealership license was given to one of the 5 applicant companies including one bank. Each has been given this license for two years. However, the central bank will have to get separate approval for each post in the import of gold.

The licensed companies are Pubali Bank, Diamond World, Jewelry House, Ratna Gold, Orosa Gold Corporation, Amin Jewelers, Shreeja Gold Palace Limited, Jannat House Limited, Milan Bazar, SQ Trading, MK International, Amin Xuelzdy Golds, Gold Bureau Jewelers, Rhea Jewelers, Lakshmi Jewelers, Bidex Gold & Diamonds & D Dumas A visit of Art Gallery.

According to the sources, about 25 to 5 tons of gold is consumed annually in the country, the bulk of which comes from the gold brought by Bangladeshi expatriates abroad. In addition, some are imported and old gold is melted to meet demand. However, in most cases, traders cannot show them any gold documents. Again, due to the complexity, traders do not import gold. In such a case, the central bank took initiative to issue the license.

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