Dear Esteemed Chamber Subscribers,
May the peace, mercy, and blessings of Allah be upon you.
Asharqia Chamber extends its warmest greetings to you and would like to inform you that it has received the letter of the Federation of Saudi Chambers No. (45550626/20), dated (25/12/1447 AH), referring to the Federation’s receipt of the Ministry of Commerce letter No. (33787), dated (16/12/1447 AH), regarding the Implementing Regulations of the Precious Metals and Stones Law as amended by Ministerial Decision No. (74), dated (20/4/1447 AH), published in Umm Al-Qura newspaper issue (5114), dated (22/4/1447 AH). Based on item (Second) of the Decision, which reads: “Second: As an exception to the provision of Article (Three) of the Regulations, articles manufactured or imported before the effective date of the Law that have a shortfall not exceeding four parts in the fineness ratio of the pure precious metal in gold, silver, and platinum articles may be displayed and sold for a period of (six) months.”
Since the exceptional grace period set at six months has now expired, the conformity limits associated with this exception no longer apply. This requires a full transition to applying the original conformity limits set out in the Implementing Regulations without any exception, and treating any article below the specified statutory limit as non-conforming with the approved regulations and specifications, regardless of the date of its manufacture or import.
For your information.
Please accept our sincere regards and appreciation.