YGEA announces necessary documents to seek gold trading licence

YANGON Region Gold Entrepreneurs Association (YGEA) notified necessary documents for seeking a gold trading licence, including a bank statement with 25 per cent of the total assets mentioned.
Applicants must fill out the stipulated Form 2 completely, copy of citizenship scrutiny card, resume with signature, bank statement signed by bank manager, declaration of maximum trading volume in (viss, tical, grams, troy ounce) measurement, recommendation letter of the respective township’s Department of General Administration, police clearance certificate, recommendation letter of Myanmar Gold Entrepreneurs Association or YGEA mentioning that individuals are members of the respective gold associations, ward administrator’s recommendation being a resident, tax clearance certificate, business licence granted by the respective municipal office, photo of the shop owners taken in front of the gold shop and photo of the gold products displayed inside the shops.
Those who fail to obtain a licence in line with the directive 055/2024 released on 25 October 2025 by the Ministry of Natural Resources and Environmental Conservation will face actions under Section 5 of the Essential Supplies and Services Law, declared through state-run newspapers on 30 October 2024.
Starting from 6 December, the daily gold reference price for a tical of pure gold (16.329325 grammes) with 19.25 grammes of the density of gold is announced through MRTV, MWD, the MoNREC website www.mining.gov.mm and the YGEA Facebook page.
Individuals are mandatory to apply for a licence within three months (18 November 2024-17 February 2025) and failure to do so is subject to legal action under Section 5 of the Essential Supplies and Services Law.
The Mineral (Gold) Reference Price Determination Committee sets daily gold reference prices at K5.33 million per tical of pure gold (16.329325 grammes) with 19.25 grammes of the density of gold on 18 December. — NN/KK

Source- The Global New Light of Myanmar