Money & BusinessUAE
UAE: Special standard for bullion introduced
The UAE has created its own standard for good delivery in the gold trade, which constitutes a qualitative leap in the sector. The standard adopted in Dubai will be circulated in the Emirates.
The standard would require refiners to properly scrutinise suppliers and prove to outside auditors they have done so.
In the UAE, there are 28 gold smelters, while the state’s trade in gold and diamonds amounted to Dhs365 billion in 2020, making up a quarter of its non-oil trade.
