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UAE suspends licences of 32 gold refineries

Crackdown comes after inspections revealed violation of anti-money laundering law

by

Waheed Abbas

Gold industry shifts east as Dubai builds huge refinery

Published: Thu 8 Aug 2024, 5:54 PM
Last updated: Thu 8 Aug 2024, 8:49 PM

The UAE’s Ministry of Economy has suspended the licences of 32 gold refineries in the country for
non-compliance with the anti-money laundering legislation (AML).

A statement issued by the Ministry said that licences of these refineries, which represent 5 per cent
of the gold sector in the country, were suspended from July 24, 2024 to October 24, 2024.
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https://www.khaleejtimes.com/uae/uae-suspends-licences-of-32-gold-refineries