DMCC grants DGD accreditation to Al Etihad Gold refinery
DMCC also concluded its Dubai Good Delivery ('DGD') renewal cycle for accredited refineries this month which now stands at 19 refineries across 13 countries represented.
United Arab Emirtaes Al Etihad Gold Refinery has achieved DGD accreditation for Gold and Silver, announced The Dubai Multi Commodities Centre (DMCC).
DMCC said DGD Standard is the only globally accepted and relevant standard for 1kg gold bars with a minimum of 995 fineness, as well as the physical delivery standard at the Dubai Gold and Commodities Exchange (DGCX) for futures contracts traded.
DMCC also concluded its Dubai Good Delivery ('DGD') renewal cycle for accredited refineries this month which now stands at 19 refineries across 13 countries represented. Commenting on the benefits of achieving a DGD accreditation for Gold and Silver.
Sami Abu Ahmad, General Manager, Al Etihad Gold Refinery, commented, "To achieve status as a Dubai Gold Delivery accredited refinery has meant that Al Etihad Gold represents the best in its quality of Gold and Silver products. The application process is stringent, based on globally accepted best practices and performed by world class inspection agencies.
For Al Etihad Gold, achieving the Dubai Good Deliver accreditation for our Gold and Silver products is a true recognition of our technical and production competencies, complimented by the efforts carried out by our employees.
The DGD Standard has already added huge value to the business, especially to our clients, as our brand is now accepted by the DGCX and major international financial institutions. Our DGD accreditation has no doubt enhanced brand recognition and our reputation globally.
DMCC recently finalised its Responsible Sourcing of Precious Metals Review Protocol, which will ensure that Dubai Good Delivery (DGD) accredited member refineries are compliant with the DMCC's Practical Guidance for Responsible Sourcing of Precious Metals.
Adherence to the Guidance will be certified by an independent panel of DMCC approved international audit firms.
Dubai is one of the foremost gold centres in the world, with import and export numbers totalling 1,200 tonnes ($56bn in value) in 2011.
DMCC has played a vital role within Dubai's growth as a gold centre by offering physical and financial infrastructure, innovative products and services that benefit the industry, such as the Dubai Gold and Commodities Exchange, the Almas Gold Vault, DMCC Tradeflow, UAE Gold Bullion Coins, the Dubai Precious Metals Conference, the Dubai Gold Advisory Group and the DSAM Kauthar Gold Fund.
From : Google
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