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Thu, Dec 11, 2025 | Jumada al-Thani 21, 1447 | Fajr 05:32 | DXB 
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UAE regulations about precious metal sourcing exceed OECD guidelines, says minister
He adds that these policies include responsible sourcing procedures, inspections, annual audits and, where necessary, effective measures to guarantee compliance
The UAE regulations about precious metals are fully aligned, and in some cases exceed, the guidelines set by the Organisation for Economic Co-operation and Development (OECD) countries, said Dr Thani bin Ahmed Al Zeyoudi, UAE’s Minister of Foreign Trade.
Speaking during the Dubai Precious Metal Conference on Tuesday, he assured that the UAE has introduced multiple reforms and policies for transparent trading of the precious metals as well as responsible sourcing of gold.
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“There has been much media discussion about the UAE and gold in recent months. So, I'd like to take this opportunity to be absolutely clear. The UAE regulations of the precious metal sector fully align with, and in many areas exceed, the global guidelines laid down by OECD. In the past five years, we have implemented seven new policies and practices to ensure our gold trade is transparent and entirely consistent with the main with other major gold hubs around the world,” he said during a keynote address.
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He added that these policies include responsible sourcing procedures, inspections, annual audits and, where necessary, effective measures to guarantee compliance.
“We are 100 per cent committed to upholding them. Our approach has effectively mitigated risks and exposures worldwide. The UAE gold sector is a source of strength and of a considerable size,” the minister said.
The ministry earlier clarified that in 2024, the total value of gold that passed through the UAE amounted to $186 billion, of which only $1.97 billion came from Sudan, representing 1.06 per cent, which does not exceed 0.4 per cent of the GDP. The UAE categorically rejects allegations of importing most of the gold from the war-hit Sudan.
A top UAE official has hit back at systematic “demonisation campaigns” targeting the country, stating that the nation will not be distracted from its priorities and will respond with actions and achievements, not a war of words.
Dr Ali Rashid Al Nuaimi, chairman of the Defence, Interior, and Foreign Affairs Committee at the Federal National Council, recently said that “Boycott the UAE” campaigns circulating online, particularly in relation to the conflict in Sudan as a systematic “demonisation campaign.”
He stressed that the UAE will not be distracted from priorities and will respond with actions and achievements, not a war of words.
Dh1 trillion in a quarter – first time ever
Dr Thani bin Ahmed Al Zeyoudi said the UAE’s Comprehensive Economic Partnership Agreement (Cepa) programme is building a bridge of opportunities not only to some of the major global economies, but to some of the major consumers of gold, including India.
“Today, we have successfully concluded 32 Cepa deals, and 14 of them are now enforced together. They are propelling our non-oil foreign trade to all-time highs. In Q3 of this year, non-oil trades will pass Dh1 trillion in a single quarter for the first time ever. It meant that our cumulative total for the first nine months of the year reached Dh2.67 trillion,” he said.
This means the UAE’s non-oil trade will surpass last year’s figures of Dh3 trillion.
In the first six months of 2025, the UAE achieved more than Dh1.7 trillion non-oil trade, with a record growth of 24 per cent compared to the first half of 2024.
Waheed Abbas
Waheed Abbas is Assistant Editor, covering real estate, aviation and other business stories that directly affect the lives of UAE consumers. He frequently reports human interest stories, too.
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