The Ministry is monitoring businesses to enforce laws that combat money laundering and, counter the financing of terrorism
To combat money laundering, the Ministry of Economy is monitoring business to enforce laws and create an attractive environment for business and investment.
The Ministry oversaw designated non-financial businesses and professions, to ensure highest levels of compliance with anti-money laundering and counter-terrorist financing laws in the UAE.
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In a social media post, the Ministry of Economy revealed some of the major violations committed by gold refineries:
Implementing the due diligence policy for responsible gold supply chains enhances the ministry's role in governing the gold sector and the trade and manufacturing of precious metals in the UAE, Abdullah Al Saleh, Undersecretary of the Ministry of Economy confirmed.
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