| 18 September, 2017

New rules in UAE for precious metal trading this year

Shopping - Shopping for Gold

Shopping - Shopping for Gold

Dubai Tourism
Staff Report

Dubai: Abdullah Abdul Qader Al Maeeni, the Director-General of Emirates Authority for Standardisation and Metrology, said last week that the UAE Cabinet Decision No 11 of 2015, on the control of the trade in precious stones and metals, and the stamping thereof, is expected to be in place before the end of this year.

The new requirements, which will be updated on the draft regulations, were based on complaints from consumers and suggestions from regulatory bodies.

The Gold Traders Group in Dubai discussed the requirements and constraints of the presence of scales in shops, the statement of jewellery traders, and the procedures for consumer protection in relation to measuring scales. Some regulators in the UAE have requested that the hallmark stamping is accompanied by data in Arabic as well as English, along with sales invoices, the director-general of the ESMA said.

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