Ahmed Suleiman, Chairman of the Stamps and Scales Authority, indicated that the Ministry of Supply and Internal Trade gave gold manufacturers a period of three months to place their trademarks on gold jewelry.
This comes within the framework of the amendments to the new law and the provisions for monitoring the movement of the local market.
Suleiman added that the authority reviewed a number of trademarks submitted by some firms and presented them to the advisory and technical office of the ministry in order to determine their decision.
Meanwhile, the ministry is discussing the introduction of amendments to Law No. 68 and 91 regarding gold and precious metals.
A number of discussion sessions were held with the gold division of the industry federations, as well as the gold division of the general federation of chambers of commerce, to address the most prominent issues in the gold trade and industry.
The ministry began preparing the required amendments, while the authority reviewed the stamp amendments in different countries, including Italy, Turkey, the UAE, and Lebanon.
Suleiman pointed out that the new law requires gold manufacturers to put their trademarks on each piece of work. Meanwhile, the waste will be registered through the laser stamping system, as a fingerprint of the company's logo will be taken in the system.
He noted that the law discussed the problem of stone returns and set up a mechanism that keeps the rights of consumers when buying gold artifacts inlaid with glass. People can resell them without deducting the weight of the stones from the artifacts.
The new law includes enlarging the penalty for companies that are not committed to applying this policy.
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