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UAE Suspends Gold Refinery Over Owners’ Alleged Laundering Links
The United Arab Emirates suspended the accreditation of one its biggest gold refineries over concerns that its owners had ties to alleged money launderers. Emirates Gold DMCC — which has operated in Dubai for more than 30 years — was last week suspended from the UAE’s Good Delivery List, according to a government website. The bullion committee, which is chaired by the Economy Ministry, removed the refinery due to concerns its owners were connected to alleged money launderers, according to people familiar with the thinking behind the decision. The London Bullion Market Association, which regulates the UK ... (full story)