As the UAE prepares for a crucial upcoming review by the Financial Action Task Force (FATF), the Ministry of Economy and Tourism has ramped up efforts to sanitize the nation’s thriving gold sector. Minister Abdulla bin Touq Al Marri recently led an inspection of Dubai’s historic Gold Souq, emphasizing that the government maintains a "no tolerance" policy regarding money laundering. To solidify this commitment, a dedicated anti-money laundering task force has been established to ensure that the country’s 6,200-plus gold-related companies strictly adhere to international financial standards and transparent trading practices.

This initiative builds on the UAE’s recent success in being removed from the FATF’s "grey list" earlier this year. To maintain this momentum, the government has introduced a suite of robust regulatory frameworks, including the UAE Good Delivery Standard for Gold and mandatory due diligence protocols for responsible sourcing. Given that the nation’s gold trade surpassed Dh683 billion in 2024, officials are working closely with industry leaders to safeguard the sector's integrity. By fostering a culture of compliance and accountability, the UAE aims to prove its position as a transparent and secure global hub for precious metals.