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بوابة الشروق
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Financial Authority bans gold financing
The General Authority for Financial Supervision issued a decision to prohibit the financing of gold bullion and precious metals such as silver and platinum through consumer finance companies in Egypt. This decision aims to regulate the market for precious metals and reduce negative practices such as "takyish" and "cashback," which previously led to non-transparent practices and price fluctuations. This move is part of efforts to enhance transparency and stability in the market, emphasizing that precious metals are considered financial assets rather than consumer goods, thereby helping to protect traders' rights and support a fairer trading environment.
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