What are the responsible sourcing of gold requirements in the UAE?
Responsible sourcing requirements oblige gold refiners and certain dealers in the UAE to run a documented supply-chain due diligence process so that gold is not sourced from conflict-affected or high-risk areas, or linked to money laundering. The framework follows the five-step OECD due diligence guidance and sits alongside the wider AML/CFT obligations that apply to dealers in precious metals and stones.
In practice a refiner must establish a strong management system, identify and assess risks in its gold supply chain, design and implement a strategy to respond to those risks, arrange an independent third-party audit of its due diligence, and report publicly on its findings each year. The requirements were reinforced by Ministerial Decree No. 68 of 2024 on responsible sourcing of gold, which strengthened the obligations first set out in the Ministry of Economy’s due diligence regulations.
Legal Reference (UAE):
· Ministry of Economy - Due Diligence Regulations for Responsible Sourcing of Gold sets the OECD-aligned five-step framework.
· Ministerial Decree No. 68 of 2024 reinforces the responsible gold sourcing obligations.
For more details, consult the Ministry of Economy responsible sourcing regulations or seek guidance from your AML compliance officer.
MoET Supplemental Guidance for Dealers in Precious Metals and Stones