The World Gold Council, in collaboration with partners in the UAE and other nations, is advocating for standardized rules on the amount of gold and jewelry travelers can carry in their hand luggage.
Currently, different countries have varying regulations, including financial limits or weighing gold items during entry or exit. The initiative aims to address concerns about the lack of transparency in the hand-carrying of gold, which may contribute to illicit trade and the use of gold for illegal purposes.
In the UAE, discussions are ongoing with key partners to establish standardized rules, considering factors such as permissible forms of gold, personal limits, pre-approval procedures, tracking, and risk minimization.
The goal is to facilitate legitimate hand-carrying of gold for tourists while addressing potential non-compliance with responsible sourcing, anti-money laundering, and tax regulations.
The World Gold Council emphasizes the need for a standardized approach to create recommendations applicable across countries and promote transparency in the gold trade.