Whereas there is a need to create the necessary legal framework for the orderly export and domestic sale of gold legally mined and traded;

Whereas the sale of gold, both as a physical tradable commodity, and monetary should be conducted in such a way that the commodity is transacted to support the economic activity and the foreign exchange earnings of the country;

Whereas the creation o f market for gold provides a multitude of employment opportunities, income for gold smith shops and societal needs to be supported;

Now, therefore, in accordance with Article 21 (5) (b) and 2 7 (2) of the national Bank of Ethiopia Establishment (as Amended) Proclamation No. 591/2008 these Directives is hereby issued.