The UAE affirms its gold sector regulatory strength amid scrutiny over Sudan imports, maintaining high integrity and transparency standards in the gold trade.
ABU DHABI: The Ministry of Foreign Trade has reiterated the UAE’s unwavering commitment to maintaining a strong and transparent gold trade framework, in response to recent concerns about imports from Sudan. As the world’s second largest gold trading hub, the UAE confirmed that it imports gold from every continent under a rigorous and well-established set of rules.
Over the last five years, the UAE has implemented a robust regulatory framework designed to ensure the integrity and security of all gold transactions. This includes mandatory anti-money laundering (AML) and know-your-customer (KYC) protocols, comprehensive annual audits, and full regulatory enforcement at all entry points.
The Ministry highlighted that these procedures meet, and in many areas exceed, the OECD Due Diligence Guidelines for Responsible Supply Chains from Conflict-Affected and High-Risk Areas. It also pointed out that gold refiners and dealers operating in the UAE must follow enhanced due diligence procedures, particularly when dealing with suppliers from high-risk areas.
The country’s risk-based approach is backed by strict oversight and continuous training initiatives. This has significantly reduced the possibility of conflict gold entering the UAE’s markets and reinforced its status as a trusted global gold trading hub.
In 2024, the UAE’s gold trade totalled US$186 billion. Imports from Sudan were valued at US$1.97 billion—just 1.06% of total volume and under 0.4% of the national GDP, according to the Ministry.
Emphasising global trust, the Ministry said it will continue collaborating with international partners to ensure that its enforcement practices align with global best standards and uphold the UAE’s leadership in responsible gold trading.
