Details of monitoring adulterated gold bars in the Egyptian market..and the division warns

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Cairo – Mubasher: The General Division for Gold and Gold Artifacts at the General Federation of Egyptian Chambers of Commerce monitored some attempts to sell non-stamped bars (my alloy) on social media pages, in violation of the law and which constitutes a wide field for commercial fraud and manipulation of consumer rights.

Hani Milad Gayed, head of the General Division of Gold and Gold Artifacts, confirmed that the ingots that are sold to the consumer must meet a set of conditions, the most important of which is that they are stamped by the Stamp and Scales Authority to ensure the caliber and weight of the ingot, in addition to the seal of the factory producing the ingot, as it is properly packaged to preserve it and the necessity The customer receives an invoice for the purchased ingot, according to a statement.

Milad explained that the non-stamped ingots that are circulated do not conform to the specifications, and selling them to the consumer is considered illegal, while they are traded as raw materials between factories and workshops only after they are stamped and calibrated after being produced in the form of an official ingot or gold artifacts.

He pointed out that these ingots are not accurately defined in caliber or weight, and the numbers written on these ingots were stamped by the workshop that produces them and are not calibrated or officially guaranteed, which opens a wide scope for deceiving consumers by trading them in an unreal caliber or weight, and no tax or stamp duty was paid for their production. Calibration and considers these alloys unfit for the end consumer’s use, advising consumers not to succumb to such advertising and purchase unsecured or legal products.

He stressed that there are currently many companies producing alloys in the Egyptian market, and all of them enjoy the necessary quality specifications for stamping with the Egyptian stamp, high quality and monitoring by the Ministry of Supply and Internal Trade represented by the Department of Stamps and Weights.

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