What is the cash transaction threshold for dealers in precious metals and stones in the UAE?
A dealer in precious metals and stones becomes a DNFBP, and must apply full AML/CFT obligations, when it carries out a single cash transaction, or several linked cash transactions, whose value equals or exceeds AED 55,000. At or above this threshold the dealer must identify the customer, verify the beneficial owner, screen against sanctions lists, and keep supporting records.
The threshold is measured across linked dealings, so a customer cannot avoid it by splitting one purchase into smaller cash payments made close together. Dealers should have controls to detect structuring of this kind and treat linked transactions as a single amount.
Legal Reference (UAE):
· Cabinet Resolution No. 134 of 2025 (Executive Regulations), Article 3(3) - classifies dealers in precious metals and stones as DNFBPs at cash transactions of AED 55,000 or more.
· Cabinet Resolution No. 134 of 2025 (Executive Regulations), Article 7 - sets out when customer due diligence must be applied.
For more details, consult the full text of Cabinet Resolution No. 134 of 2025 or seek guidance from your AML compliance officer.