The Dubai Multi Commodities Centre (DMCC) and the World Gold Council are collaborating to establish international regulations and procedures to address the issue of illicit gold trade through hand-carry luggage. Customs officials have been increasingly intercepting passengers attempting to transport unauthorized quantities of gold leading to a global effort to curb such activities. This initiative aims to standardize regulations to allow travelers worldwide, including the UAE, India, China, Pakistan, Europe, the Americas and other countries, to carry only a specified amount or value of gold in their hand luggage.
The objective is to create transparency to combat illicit trade, ensure responsible gold sourcing, and implement standardized customs declaration and digital tracking processes. DMCC and the World Gold Council will conduct research and engage stakeholders globally to define acceptable personal limits and establish the necessary procedures with the ultimate goal of implementing these recommendations as laws worldwide.
Interested to know more about gold trade in the UAE and the rest of the world? Drop us an email(office@alphaprimedwc.ae) or give us a call (+97158 515 2374) at any time.
