Ministerial Decree No. (68) of 2024 Regarding Gold Refineries’ adherence to the Policy of Due Diligence Regulations for Responsible Souring [sic] of Gold (English)

<!-- page 1 ends --> commercial free zones subject to the supervision of the Ministry of Economy, must adhere to the procedures and measures contained in the due diligence policy for the responsible sourcing of gold attached to this decision at As follows: A - Relevant entities in the supply chain and precious metals dealers must comply with the following procedures: - 1) Establish strong company management systems and adopt a company specific policy on due diligence for gold supply chains. 2) Identify and assess risks in the gold supply chain. 3) Design and implement a management strategy to respond to identified risks regarding the gold supply chain. B – Entities that engage in activities related to refining gold or recycling its products must adhere to the procedures contained in Paragraph (A) of this Article in addition to the following: 1) Commitment to appoint an independent third-party auditor/auditor for due diligence of the gold supply chain. 2) Submit a report on due diligence in the gold supply chain. ## Article Two Accredited reviewers who conduct independent audits on any of the establishments referred to in Article One of this Decree shall perform an independent review of the due diligence procedures for responsible sourcing of gold in accordance with the procedures referred to in the attached Policy. ## Article Three Administrative penalties shall be imposed on establishments that violate the provisions of this Decree and the attached Policy in accordance with the provisions of Federal Decree- Law No. (20) of 2018 on combating money laundering crimes, counter-terrorism financing, and the financing of unlawful organizations and its amendments, and the related decisions issued thereunder. ## Article Four This Decree and the attached Policy shall be published in the Official Gazette and shall come into effect as of the date of its issuance. Abdulla bin Touq Al Marri Minister of Economy Executed on: 29/03/2024

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