The Saudi Authority of Accredited Valuers (TAQEEM) has issued a grace period for all precious metal and gemstone valuers to rectify their status before July 1, 2025. Valuers must meet all legal requirements by this date and become members of the authority by July 1, 2026 in order to continue working in the Kingdom. This initiative is part of TAQEEM’s efforts to ensure professional valuation, provide accurate and reliable services, and enhance trust and transparency in the market.
According to TAQEEM Spokesman Saad Al-Baiz, these corrective measures are aimed at governing practices within the valuation profession and safeguarding the rights of beneficiaries. The authority is working to raise the quality of services provided, align them with international best practices, and enhance the efficiency and skills of those working in the industry. Those interested in rectifying their status can visit TAQEEM’s website or contact the unified number for more information.
TAQEEM serves as the regulator of the valuation profession in Saudi Arabia, implementing laws and legislation that allow valuers to practice according to International Valuation Standards (IVS). By enforcing these standards and promoting professional development within the industry, TAQEEM is working to ensure the integrity and credibility of valuation practices in the Kingdom. This initiative is part of the authority’s commitment to ensuring a fair and transparent marketplace for precious metals and gemstones.
Valuers in Saudi Arabia play a crucial role in determining the value of precious metals and gemstones, which are widely traded commodities in the global market. By ensuring that valuers meet all legal requirements and adhere to international standards, TAQEEM is strengthening the profession and protecting the interests of both valuers and consumers. This initiative will help to enhance the reputation of Saudi Arabia’s valuation industry and promote trust among stakeholders in the market.
As the deadline for rectifying status approaches, precious metal and gemstone valuers in Saudi Arabia are encouraged to take advantage of the grace period granted by TAQEEM. By meeting all legal requirements and becoming members of the authority, valuers can continue to work in the Kingdom and contribute to the growth and development of the valuation profession. TAQEEM’s efforts to improve governance practices and enhance professional standards will benefit both valuers and consumers, ensuring a fair and transparent marketplace for precious metals and gemstones in Saudi Arabia.
In conclusion, TAQEEM’s initiative to urge precious metal and gemstone valuers to rectify their status is part of a series of corrective measures aimed at enhancing professionalism and transparency within the valuation profession in Saudi Arabia. By meeting legal requirements and becoming members of the authority, valuers can continue to work in the Kingdom and contribute to a fair and efficient marketplace for precious metals and gemstones. TAQEEM’s commitment to promoting international standards and professional development will benefit both valuers and consumers, ensuring the integrity and credibility of the valuation industry in Saudi Arabia.
