Gold and Currency Market: CBM stresses online trading for gold bar transactions

Governor of the Central Bank of Myanmar [CBM] Daw Than Than Swe held a meeting with the chairman and secretary of the Monitoring and Steering Committee on Gold and Currency Market and departmental officials.

In this meeting, the Governor said that online trading should be launched for gold bar transactions just like the online trading of the foreign currency market. She also mentioned the need to allow those who hold legal certificates for following the mechanisms of meeting the standard for gold, quality, weight and pricing to participate in online trading to ensure gold price stability.

Also, she instructed the supervisors to inspect whether the price manipulators make price instability at gold shops, and whether the shops have relevant work licences and other certificates including the legal trading price and payment methods.

And, the attendees reported on the proper situation concerning the online trading of CBM for real estate agents and car brokers in addition to the foreign currency and gold market to make official transactions by laying down rules and regulations and the plans to inspect as per the Anti-Corruption Law.