The International Financial Services Centres Authority (IFSCA) has issued the International Financial Services Centres Authority (Good Delivery) Guidelines, 2026, with immediate effect, establishing standards for accreditation of gold refiners and recognition of Good Delivery Gold.
The following has been stated:
The Guidelines apply to refiners operating in India, including SEZs and IFSCs, as well as refiners outside India seeking certification as an Accredited Refiner by the Bullion Exchange. The framework aims to ensure quality, responsible sourcing, and acceptance of refined gold as Good Delivery Gold.
Accredited Refiners must follow a five-step responsible sourcing and compliance framework, including a documented Gold Supply Chain Policy, risk-based procedures, internal governance, supply-chain traceability and supplier compliance.
The framework requires supply-chain due diligence, AML/CFT compliance, responsible sourcing from conflict-affected and high-risk areas, third-party audits and corrective-action mechanisms. Accredited Refiners must also publish an annual Comprehensive Management Report containing relevant audit and compliance information.
The Bullion Exchange will certify refiners, empanel independent auditors and maintain a publicly accessible registry of empanelled auditors. Gold manufactured in accordance with the Good Delivery standards will be eligible for delivery on IFSC exchanges and in the OTC market.
