Egypt introduces first ATM to sell gold bullion at NEBU Expo

Daily News Egypt
2 Min Read

The third edition of the NEBU Expo for Gold & Jewellery was inaugurated on Sunday by the Minister of Supply and Internal Trade, Ali Moselhi, and the Minister of Trade and Industry, Ahmed Samir. The expo, which will last for three days, showcases the latest products and technologies in the gold and jewellery industry.

Moselhi witnessed the launch of the first ATM to sell gold bullion to citizens, a step that supports the policies of digital transformation and financial inclusion. He said that the ATM will provide a better experience for customers who want to buy gold conveniently and securely.

He also stated that the number of participants in the NEBU Expo increased to 50 local and foreign companies and representatives from Germany, the UAE, China, Turkey, and Italy, as well as foreign buyers from 18 countries, numbering 110 buyers.

The Minister of Supply said that there are efforts to position Egypt as an exporter of gold to the Gulf countries, Italy, and Africa. He highlighted the great development in the gold and jewellery industry, and the use of modern technology and innovation. He also mentioned that a decision has been issued to allow the entry of gold without customs.

Hany Milad, the head of the Jewelry and Goldsmithing Division, said that the exhibition area of NEBU has doubled over its three sessions, as the current edition covers 8,000 sqm, compared to 3,000 sqm in its first edition.

He added that the current edition features about 50 of the major institutions of production, trade, and distribution of gold and jewellery, as well as manufacturers of machines and equipment for all production processes and products for gold trade. He also noted that international exhibitors from the UAE, Italy, Germany, Turkey, and China are participating in the expo.

Share This Article
Leave a comment