The Singapore Bullion Market Association (SBMA) has launched Retail Gold Investment Committee in collaboration with the World Gold Council (WGC) to enhance trust and transparency in gold investments.
The committee will be chaired by Silver Bullion, Singapore-based precious metals dealing firm, to implement the Retail Gold Investment Principles established by the WGC.
The inauguration, announced on Monday (Jun 10) during the seventh Asia Pacific Precious Metals Conference, marks a significant step in developing Singapore as the premier hub for precious metals in Asia-Pacific region, said SBMA.
WGC’s global head of market structure and innovation Mike Oswin, as well as head of Apac (ex-China) and global head of central banks Fan Shaokai, attended the event, together with Silver Bullion’s founder Gregor Gregersen and SBMA’s chief executive officer Albert Cheng.
The Retail Gold Investment Principles established by the WGC comprise guidelines to provide simplicity and transparency to retail investors in gold dealing. These include regulatory compliance, which Gregersen highlighted as the committee will work to prevent gold investment as a money laundering tool.
