The Dubai Economy has stated that when a consumer purchases gold and jewelry, the merchant is not legally obligated to repurchase, and according to the Consumer Protection Law, people who want to sell gold and jewelry are not considered consumers, and the merchant has the right to set requirements for the process of buying gold from them, where These operations fall within the framework of commercial operations organized with certain conditions to be agreed upon between the two parties.
In detail, the commercial control and consumer protection sector in Dubai’s economy stated that the campaigns and initiatives launched by the sector have resulted in making the gold market in the emirate one of the most economical sectors in compliance with the regulations and legislation in force in the emirate.
This is evidenced by the low number of complaints Dubai Economic receives from consumers. When comparing the gold and jewelry market to other sectors and other commercial activities in the emirate, it becomes clear that consumer complaints on the gold and jewelry sector are less than 0.5% of the total consumer complaints received in the year 2019, according to the regular annual report issued by the Dubai Economy in this regard.
Mohamed Ali Rashid Lootah, Executive Director of the Commercial Control and Consumer Protection Sector in Dubai Economy said: “Dubai has gained wide international fame after it has become a global center for gold, thanks to the keenness of senior companies to provide a bright image of the high-end business environment and the retail market. Dubai is booming, and companies operating in this field offer distinct and varied products and services for all segments of consumers, exceeding their expectations, to make this the most distinguished sector in Dubai in the world. ”