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UAE to bring tough rules on sourcing of gold imports

UAE to bring tough rules on sourcing of gold imports

The UAE is bringing in new rules related to the sourcing of gold into the country, further cutting down any gaps that existed. The laws come into full effect January next. The regulations - brought out by the Ministry of Economy - specify the quantity of supply of gold for regulated establishments. These include companies operating refineries and the recycling of gold products inside and outside the country. These come under the precious metals and gemstones trade sector, which is classified as DNFBP (Designated Non-Financial Business and Professions).
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