Following the national policy, Bangladesh Jeweller's Association (BAJUS) has updated its guidelines for jewellers across the country to ensure quality ornaments.
The trade body has reiterated its stance for hallmarked gold and none should be allowed to sell ‘low quality’ jewellery items in the name of cadmium pine as such an activity is an offensive crime, said a handout on Thursday.
There are four standards of gold in Bangladesh – 18, 21, 22 and 24 carets.
“All businesses should sell gold within these qualities. In case of pure gold, the rate of purity shouldn’t lower than 99.5 percent. All gold should be tested at hallmarking companies. The handwriting seal wouldn’t acceptable,” reads the statement signed by MA Hannan Azad, chairman of the standing committee on the pricing and price monitoring.
In case of exchange of jewellery products, businessmen can cut 10 percent from base price and 20 percent while buying ornaments from customers. Jewellers can charge maximum Tk 300 for processing per gram gold.
“If a jeweller violates the directive, he will be fined Tk 25,000. In case of the second-time violation, the jeweller will lose BAJUS membership,” the directive says.
The BAJUS has urged the jewellers to avoid any kind of promotional waiver, gifts during sales of gold ornaments. All businesses should maintain the tariff mentioned in the BAJUS app and website.
An individual should provide a purchase memo during sales of gold ornaments and basic information – name, address, mobile number, and copy of national identity card.
To sell the gold came under baggage rules, the carrier should hold photocopy of passport, airport clearance and tax certificate.
The jewellers should maintain the minimum standard of IJ and SI-2 in terms of colour and clarity of the diamond ornament. There should be given compulsory quality certificate for all diamond ornaments over 50 cent, according to the latest directives.
The jewellers should mention the quality standard of 4C (colour, clarity, cut and carat) in the memo. In case of diamond ornament exchange and purchase, jewellers can cut 15 percent from the base price for exchange and 25 percent for purchase.
The jewellers can offer maximum 25 percent discount on diamond products. If any business violates the rule, it will go through legal action and fine of Tk 5 lakh.
According to the BAJUS directives, jewellers can cut 30 percent price during exchange silver product and 40 percent during purchase of such ornament. The maximum charge for processing silver ornament will be Tk 26 per gram.
Bd-pratidin English/Lutful Hoque
