H.E. Safeya Al Safi: “The Ministry is committed to empowering the private sector to build a comprehensive and highly efficient compliance framework capable of countering financial crime.”

Abu Dhabi, 25 June 2026 - The Ministry of Economy and Tourism, in collaboration with Dubai Chambers and Dubai Gold and Jewellery Group, organised a specialised awareness workshop for the precious metals and gemstones sector. The workshop, titled ‘Strengthening Compliance with AML/CFT Requirements in the Private Sector,’ forms part of the ongoing national efforts to raise awareness and strengthen private sector’s compliance with the policies, regulations, and operational and procedural processes relating to countering money laundering, and combating the financing of terrorism and proliferation financing. This aligns with the applicable laws, legislation and resolutions that are in force in the UAE and is consistent with the international standards issued by the Financial Action Task Force (FATF).
The workshop was attended by Counselor Salem Ahmed Al Tunaiji, Director of the AML/CFT department at the Ministry of Economy and Tourism; Maha Al Gargawi, Vice President of the Business Advocacy at Dubai Chambers; and Tawhid Abdullah, Chairman of Dubai Gold and Jewellery Group, alongside a number of representatives from relevant authorities, industry experts, and a range of establishments operating in the precious metals and gemstones sector.
Her Excellency Safeya Al Safi, Assistant Undersecretary for Commercial Control and Governance sector at the Ministry of Economy and Tourism, affirmed the Ministry’s commitment and its concerted efforts with various national entities to establish a robust oversight environment that accords with the highest international standards and best practices. She explained that the precious metals and gemstones sector constitutes a cornerstone of the designated non-financial businesses and professions (DNFBPs) under the Ministry’s purview in the area of AML/CFT and proliferation financing. Therefore, raising awareness of compliance requirements within the sector assumes particular significance given that it faces elevated risk due to the substantial activity it experiences and the UAE’s leading position as the world’s second-largest gold trading hub.
Her Excellency added: “The workshop forms part of our efforts to keep institutions in this vital sector continuously apprised of the latest developments and legislation concerning anti-money laundering. Through these efforts, we aim to empower businesses to build a comprehensive and highly efficient compliance framework capable of countering financial crimes, which in turn contributes to enhancing transparency, ensuring the stability of the business environment, and cementing the country’s competitiveness and distinguished economic standing.”
The workshop underscored the importance of embedding institutional compliance and strengthening the public-private partnership in support of the AML/CFT framework, thereby contributing to the enhanced efficiency of the supervisory system and the integration of its operations. The workshop also explored ways to bolster the readiness of establishments operating in the sector by raising awareness of regulatory and supervisory requirements and enabling them to adopt and implement best practices in compliance and risk management, thus supporting its sustainability and stability while reinforcing the transparency and integrity of the business environment.
Additionally, the workshop reviewed a range of specialised technical and regulatory themes, including FATF requirements and the role of the private sector in supporting the compliance framework. The sessions contributed to awareness building and training within the precious metals and gemstones sector in the analysis and assessment of money laundering, terrorism financing and proliferation financing risks. Discussions also covered sanctions screening and lists of names and high-risk countries, and the application of customer due diligence measures across various client categories.
Furthermore, the session addressed the mechanisms for preparing and submitting Suspicious Activity Reports (SARs), Suspicious Transaction Reports (STRs) and the competent authorities, in addition to reinforcing the concepts of responsible sourcing within the sector’s value chains, thereby supporting the integrity and transparency framework in commercial transactions.
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