In a statement released recently, the UAE Ministry of Foreign Trade expressed confidence that its system for importing gold is robust, transparent, and closely controlled. Reports about gold arriving from Sudan have sparked officials to respond that only 1 percent of the country’s total gold imports comes from there-quieting concerns about conflict-linked flows.
The UAE has established a regulatory regime in excess of international standards for the purpose of guarding against illicit trade. Its system requires checks on anti–money laundering and “know your customer,” annual audits, and strict due diligence at all points of entry.
This approach follows, and in some respects even exceeds, the recommendations in the OECD’s Due Diligence Guidelines for minerals originating from Conflict-Affected and High-Risk Areas (CAHRAs).
Under this framework, gold refiners and dealers shall vet their suppliers both on- and off-site, especially in high-risk regions.
These measures, along with training programs and risk-based oversight, help to protect the integrity of the UAE’s precious metals market.
In 2024 alone, the UAE traded a staggering US$186 billion in gold — yet only US$1.97 billion, or 1.06%, came from Sudan.
The Ministry reiterated its commitment to continuing to work with international bodies, reemphasizing thereby that its gold trade practices remain among the most trusted in the world.
