Central Bank Bans Online Gold and Silver Sales

The Central Bank has announced a ban on online buying and selling of gold and silver by the banking network. Following this decision, digital banking platforms have halted gold sales, and users of Blue Bank can only sell their existing gold holdings. This ban has been communicated through a circular, and Hamed Haqbian, the head of the legal fintech group at the Central Bank, stated that this decision was made due to serious operational risks in one of the online gold sales platforms and the potential for its effects to spread to the banking network. This decision has been in effect since October 5, and users of Saman Blue Bank had also reported last week that the option to buy gold in the bank's application has been disabled. Currently, Blue Bank users cannot purchase new gold, but they can sell the gold in their accounts and receive its equivalent in rials.

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