Pakistan’s unregulated gold market

Description

This article examines the economic, fiscal and financial-crime risks associated with Pakistan’s largely informal and unregulated gold market. It argues that stronger regulation could improve compliance with anti-money-laundering and counter-terrorist-financing standards, broaden the tax base and increase market transparency. The article recommends fair taxation, stakeholder education and development of formal investment channels—including gold exchange-traded funds, futures and mutual funds to modernise the sector and provide alternatives to physical gold ownership.