Madar (International) - Swiss development organisation Swissaid says in a new report that the United Arab Emirates has become a hub for the trade in gold illegally exported from Africa, TV5MONDE reported on Sunday, 15 November 2026, citing the Associated Press.
According to the report, the UAE imported at least 591 tonnes of illicit gold in 2024, worth about 74 billion dollars at current prices, a year after new rules regulating the gold trade came into force.
The NGO said gold from conflict zones, Russia or African countries accounted for 42% of the UAE's total gold imports in 2024, and that nearly half of the gold arriving from Africa came from illicit mining and smuggling, some of it entering through official channels after transiting third countries.
Most of the gold smuggled in 2024, about 453 tonnes worth more than 56 billion dollars, reached Dubai refineries from African gold-producing countries including Guinea, Mali and Sudan, which is under international sanctions and accounted for about 29 tonnes, the report said.
"The UAE remains by far the main destination for gold linked to armed conflicts in Africa. It also remains a major destination for gold exported from countries under international sanctions," said the report's authors, Marc Ummel and Yvan Schulz.
Swissaid said many refiners and gold traders in the UAE do not comply with the rules in force and that enforcement remains insufficient, and recommended placing the UAE on an international watch list for possible financial failings. It said 2025 data are incomplete, but partial figures point to the upward trend continuing.
The UAE did not immediately respond to a request for comment, according to the same source. Swissaid's findings draw on UN data, official trade statistics and information from civil society and international organisations.
