On 21 May 2020, Banking Regulation and Supervision Agency ("BRSA"), with its decision numbered 9033, publicly announced that the daily gold purchases of real persons and legal entities, as of 22 May 2020, equal to or more than 100 gram, will be posted to the purchaser's account and/or be available for immediate use on the value date which is 1 (one) business day after the trade date. The legal ground of BRSA for this decision is to enhance the sustainability of the financial markets and support the effective credit system.
In accordance with the BRSA decision, given that the settlement date of the transaction will be 1 (one) business day after the trade date, the gold purchase transactions as defined above will not be completed and settled within the same day of the transaction by scrutinizing the price movements of the respective date. In this regard, if any real person or legal entity purchases gold equal to or more than 100 gram, such gold will be posted to the purchaser's account 1 (one) business day after the trade date and therefore, settlement will be completed 1 (one) business day after the purchase of gold.
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