Tabakovic: Amendments to law give Serbian central bank right of first refusal in buying gold

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The governor of the National Bank of Serbia (NBS), Jorgovanka Tabakovic, said in the National Assembly that the proposed amendments to the Law on the National Bank of Serbia give the central bank right of first refusal when it comes to buying gold made from mineral resources mined in Serbia.

"What has been the usual practice until now, in the Law on the National Bank, is that the NBS buys all the gold that is produced in Serbia at stock exchange prices, but now we have also submitted an amendment, that when it comes not only to gold, but also silver and all other precious metals, those producing them in Serbia, from Serbia's natural treasures, are obligated to offer it to the NBS under the right of first refusal, which then pays the stock market price for it," said Tabakovic.

She added that competitiveness is not called into question in any way.

"But what is ours remains the safety of Serbia, which we have proven with high foreign exchange reserves, a significant part of which is also in gold. And I hope that the National Bank will continue to work in the interest of everyone, including those who made it impossible for these laws to be passed at the time," said Tabakovic.

(Telegraf Biznis/Tanjug)