Saudi Gazette report

RIYADH — The Saudi Authority of Accredited Valuers (TAQEEM) urged all precious metal and gemstone valuers to take advantage of the grace period granted to them to rectify their status.

These valuers must meet all legal requirements by July 1, 2025, and to become members of the authority by July 1, 2026, if they wish to be able to work in the Kingdom, as stipulated by TAQEEM executive regulations.

TAQEEM Spokesman Saad Al-Baiz said that this is part of a series of corrective measures aimed at realizing governance of practices, ensuring professional valuation, and guaranteeing the provision of accurate, fair, and reliable valuation services. It also seeks to enhance trust and transparency in the precious metals and gemstones market, and safeguard the rights of beneficiaries.

Al-Baiz emphasized TAQEEM’s ongoing efforts to raise the quality of services provided, align them with international best practices, and enhance the efficiency and skills of those working in this profession. Individuals interested in rectifying their status can visit the website: taqeem.gov.sa or contact the unified number 920011244 for more information.

It is noteworthy that TAQEEM is the regulator of the valuation profession in Saudi Arabia. It works on implementing laws and legislation which allows valuers to practice the profession according to the International Valuation Standards (IVS).