Trading In Gold And Jewellery Companies in Malaysia

Gold and jewellery companies in Malaysia are required to obtain a licence from the Ministry of International Trade and Industry (MITI) in order to operate. These companies are also subject to the requirements of the Malaysian Anti-Money Laundering Act 2001 and the Financial Services Act 2013.

Under the MITI requirements, gold and jewellery companies must maintain proper books and records, and submit monthly reports to the ministry. They are also required to display their licence prominently at their place of business.

The Malaysian Anti-Money Laundering Act 2001 requires gold and jewellery companies to take measures to prevent money laundering, such as customer due diligence and reporting suspicious transactions. The Financial Services Act 2013 requires gold and jewellery companies to be registered with the Securities Commission Malaysia and to comply with its rules and regulations.