Mr. Ahmed bin Sulayem, Executive Chairman of Dubai Multi Commodities Center (DMCC), has called for a global ban on carrying gold in hand luggage on flights to curb smuggling. This measure is proposed as a way to address the issue of illegal gold trade, particularly in regions like East and Central Africa, where much of the gold is suspected to be smuggled into Dubai. The ban, according to Mr. Sulayem, would be a straightforward measure for the aviation industry, similar to restrictions implemented during the COVID-19 pandemic.
The reasoning behind the proposed ban is that hand-carried gold is a common method for smuggling, as it can bypass security measures more easily. By requiring all gold to be checked in, it would be subject to more rigorous inspection and potentially deter illegal activities.
Mr. Sulayem’s call for a ban is not new. He has been advocating for this measure for some time, highlighting the need for stricter controls on gold transportation to combat smuggling. The proposal has been met with support from some quarters, while others have raised concerns about the potential impact on legitimate gold traders and the practicality of implementing such a ban.
Several sources also point to the fact that Dubai is a major hub for gold trade, and a significant portion of the gold entering the region is suspected to be illegally sourced. This has led to scrutiny of Dubai’s role in the global gold trade and calls for greater transparency and accountability in the industry.
In addition to the ban on hand-carried gold, there have been discussions about tightening rules for taking gold on airlines in general. This could involve increased scrutiny of gold shipments, stricter documentation requirements, and enhanced collaboration between airlines, customs authorities, and other relevant agencies.
Ultimately, the proposed ban on hand-carried gold is part of a broader effort to address the challenges of illegal gold trade and ensure that the gold industry operates in a responsible and transparent manner.
Posted by Suresh Chotai
