Bangladesh Jewellers Association (BAJUS) has reduced exchange and alternate rates gold ornaments for convenience of customers.
From now, jewelery companies will deduct 8 percent in case of exchanging their old gold ornaments or jewellery for new gold ornaments, says a news release on Monday.
Besides, jewellery companies will cut 15 percent rate in case of buying old gold ornaments from the buyers, according to the statement signed by MA Hannan Azad, Chairman of Standing Committee on Pricing and Monitoring of BAJUS.
The new alternate rate is 5 percent lower that the previous 20 percent.
In the notification, BAJUS for a long time there was a rule of 10 percent deduction in case of exchange or change of gold ornaments and 20 percent deduction rule in case of purchase or purchase from the buyer.
The exchange and purchase rates of gold ornaments have reduced for the convenience of buyers, according to the decision of a recent meeting of BAJUS.
As per the new norms, 8 percent is fixed in case of exchange of gold ornaments and 15 percent in alternate rate to encash.
The BAJUS has requested all jewellers across the country to follow the new rules in exchange and purchase or buying and selling of gold ornaments.