Upon directives of the Minister of Commerce and Industry and the Minister of Communications and Information Technology, Mazen Al-Nahedh, the Undersecretary of the Ministry of Commerce, Muhammad Al-Enezi, issued a decision allowing companies and institutions trading in precious jewelry according to the following conditions:
— Registering the quantity in the precious metals management system.
— Obtaining an appointment for re-stamping.
— Documenting artifacts sold with prohibited stamps in a special register that is handed over to the Precious Metals Department, and that the register contains consumer data according to the obligations contained in the aforementioned Anti-Money Laundering and Terrorist Financing Law.
— Advertise clearly on the front of the shop the exact date for re-stamping.
The Al-Rai daily said according to the decision, May 30, 2023 will be the last day for selling prohibited artifacts, according to the conditions set forth in Article 1.