IFSCA tightens gold sourcing norms for GIFT City bullion exchange

Wed Oct 21 2026

International Financial Services Centres Authority (IFSCA) recently introduced a framework to strengthen responsible sourcing and traceability in the bullion market, setting out new compliance requirements for domestic and international gold refiners seeking accreditation with the India International Bullion Exchange (IIBX) at GIFT City.

The IFSCA (Good Delivery) Guidelines, 2026, require refiners to conduct supply-chain due diligence, identify sourcing risks, maintain traceability and undergo independent audits.

Gold can enter the market through mined ore, recycled jewellery, manufacturing scrap and other secondary sources. These channels carry different risks relating to provenance, human rights, conflict financing and environmental practices.

The framework requires refiners to trace gold to its origin and document intermediaries, transit routes and the chain of custody. Refiners must assess risks linked to money laundering, fraud, sanctions violations, among others.

IIBX will oversee accreditation and maintain a public registry of auditors. The framework aims to strengthen supply-chain transparency and responsible sourcing, while providing eligible domestic and overseas refiners a route to have their gold accepted for delivery on the exchange.

“By far, gold delivery standards have focused on the purity, weight, dimensions and refining quality of gold bars. The new guidelines extend the compliance framework to the origin of gold and the risks associated with its supply chain. The move places accredited Indian gold refineries at a level playing field in international bullion markets and strengthens domestic refining capabilities,” said Ashok Gautam, CEO, IIBX.

IFSCA’s guidelines align with global efforts to strengthen responsible sourcing of precious metals, alongside initiatives by the London Bullion Market Association (LBMA), UAE gold, Responsible Minerals Initiative and the Responsible Jewellery Council.

Source: https://timesofindia.indiatimes.com