The United Arab Emirates Ministry of Economy reported on a field visit by Economy and Tourism Minister Abdulla bin Touq Al Marri to Dubai's Gold Souk to assess how traders are applying the rules governing the gold sector, with a focus on anti-money laundering, counter-terrorist financing and proliferation financing requirements. The sector falls within the designated non-financial businesses and professions supervised by the ministry. The update also restated the main elements of the regulatory package already introduced for the sector, including a comprehensive federal policy, the UAE Good Delivery Standard for gold, and a responsible sourcing due diligence policy and regulations. During the visit, traders provided feedback on compliance levels, practical implementation and operational challenges. A separate meeting with Dubai Jewellery Group and major companies in the gold, precious metals and gemstones sector focused on cooperation to support compliance with anti-money laundering-related legislation and policies, and on private sector views on developing the market framework. The ministry said the wider framework also includes a dedicated UAE bullion market committee, a database of company and individual traders, and a federal gold trading platform, alongside technical support and training for firms. It added that the sector includes 6,213 companies and 53 licensed gold refineries, and that gold traded through UAE markets totaled AED 683 billion, equivalent to USD 186 billion, in 2024.

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