The Ministry of Foreign Trade has reaffirmed the UAE’s robust regulatory framework for its gold sector, addressing recent reports concerning gold imports from Sudan and underscoring the country’s commitment to transparent and secure trade practices.
In a statement, the ministry noted that the UAE, the world’s second largest gold trading hub, has strengthened its governance of the precious metals industry over the past five years. Mandatory anti-money-laundering and know-your-customer protocols, annual audits and strict enforcement at all entry points form the backbone of this system.
Officials highlighted that the UAE’s procedures align with, and in some areas surpass, the OECD Due Diligence Guidelines for supply chains in conflict-affected and high-risk areas. Gold refiners and precious metals dealers are required to follow enhanced due diligence measures before engaging with suppliers in such regions.
This risk-based approach, combined with regulatory oversight and training programs, has helped prevent conflict-linked gold from entering the legitimate supply chain and has reinforced the integrity of the national market.
According to the ministry, global exporters continue to place trust in the UAE’s gold sector due to its stability and comprehensive regulatory structure. In 2024, gold valued at US$186 billion moved through the country. Imports from Sudan accounted for US$1.97 billion, representing just over one percent of that total and less than 0.4 percent of the UAE’s GDP.
The ministry added that relevant entities will continue working with international bodies to maintain high enforcement and reporting standards across the sector.
News Source: Emirates News Agency
