ABU DHABI, 7th December, 2022 (WAM) –The UAE has announced the exportation of the first shipment of gold exports that conform to the UAE Good Delivery (UAEGD) standard to the International Bullion Exchange of India (IIBX).

The UAEGD is a standard that provides a framework for the gold sector, in line with international best practices. It covers quality and technical specifications of refineries and gold production facilities in the UAE.

The deal consists of exporting about 100 kilograms of gold worth $4 million from the Emirates Gold Refinery to the Indian International Bullion Exchange, according to the Emirates Standard for Good Delivery of Gold. For his part, Anto Joseph, CEO of the Emirates Gold Refinery, said, “We feel proud of the completion of this deal, which enhances international confidence in the UAE’s national gold exports, and sends optimistic messages to investors in that vital sector in the UAE and India. The partnership and cooperation with the Indian Stock Exchange deepens channels cooperation, encourages the conclusion of more deals, and will work to increase UAE exports during the next stage.”

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The founder of the Emirates Gold refinery in Dubai has proved that even the most daunting of professional setbacks can be overcome and long-held dreams can eventually be realised with hard work and a little help from your friends, Hadeel Al Sayegh reports.

Mohamed Shakarchi can still remember when, as a boy in the 1940s, he would watch his father buying and selling gold at a street market in Beirut.

Traders from around the Levant would come to the Lebanese capital to deal in strips of gold, nicknamed “frenchfries”, in coffee shops thick with smoke from nargile pipes.

“Some of the men would be holding rosary beads saying, ‘I buy, I sell, I buy, I sell’ with every flick of the bead,” Mr Shakarchi recalls.

Dubai: Dubai Multi Commodities Centre (DMCC) yesterday announced that Emirates Gold, the only silver refinery in the UAE, has been awarded the Dubai Good Delivery (DGD) status, thereby enabling it to achieve international ranking.

The inclusion of Emirates Gold into DMCC’s approved list of silver refiners is expected to give silver manufacturing in the UAE a significant boost, as silver traders do not have to turn to international suppliers for their requirements.

Emirates Gold DMCC awarded Dubai Good Delivery status for silver. Silver manufacturing in UAE to get significant boost.

Dubai Multi Commodities Centre (DMCC) today announced that Emirates Gold, the only silver refinery in the UAE, has been awarded the Dubai Good Delivery (DGD) status, thereby enabling it to achieve international ranking.

The inclusion of Emirates Gold into DMCC’s approved list of silver refiners is expected to give silver manufacturing in the UAE a significant boost, as silver traders do not have to turn to international suppliers for their requirements.

Launched in September 2007 in association with the World Gold Council, the Visions of Dubai (VoD) gold coin is one of DMCC�s key initiatives celebrating Dubai�s status as the �City of Gold�. The UAE�s first souvenir commemorative gold coin, VoD is designed to reflect Dubai�s visionary leadership and its innovative development projects.

The first edition of the exclusively crafted coins carry an image of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, on one side and on the other, the world�s only seven-star hotel, the iconic Burj Al Arab. The second edition, VoD � Palm Edition, was launched in 2010 and carried on the second side an engraved image of the Palm Jumeirah, Dubai�s iconic island project.