Nepal, April 30 -- Nepal Rastra Bank (NRB) has directed gold-related associations and federations not to charge any fees for issuing recommendations to importers seeking approval to import gold.

In a notice issued on Tuesday, the central bank instructed that no charges should be levied when endorsing importers purchasing gold through commercial banks. NRB clarified that Section 14 of the Procedure for Import, Sale, and Distribution of Gold, 2068 BS explicitly prohibits such fees.

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The NRB also instructed the concerned associations and federations to fully implement the provision and provide recommendation services free of cost.

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