Central bank strips licences of gemstone dealers

Sok Chan / Khmer Times No Comments Share:
Chea Serey, Director General of Central Banking. KT/Chor Sokunthea

The National Bank of Cambodia (NBC) rescinded the licences to deal in precious metals and gemstones of 10 companies due to a lack of business activity since the licences were granted.

According to an announcement released on Tuesday by NBC, during the last four years, the affected companies fail to make any use of their licences and weren’t involved in any import or export operations involving gemstones or precious metals.

The firms are Liberty Gold, First State Gold Investment, Vimean Seila, Royal gold, Askap Gold Investment, Fugi Gold, JPA Associates, Khmer Gold and Silver Coins Investment, Gold Guest, and LCH Sky Precious Metal.

According to the Ministry of Commerce, last year imports of raw gemstones grew by 5.33 percent, reaching a value of $16.5 million.

Exports of raw gemstones in 2017 were worth $8.43 million, an increase of 67 percent year-on-year.

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