The World Gold Council (WGC) has officially announced the opening of a new office and regional headquarters for the Middle East in Dubai. Located in the Dubai Multi Commodities Center (DMCC), it is the world's most interconnected free zone and a major trade and business hub for goods. This strategic expansion strengthens WGC's global footprint and demonstrates its commitment to working with one of the world's largest gold trading centers.
The establishment of the new office coincides with the signing of a Memorandum of Understanding (MoU) outlining a series of collaborative efforts aimed at developing the UAE's domestic gold industry. Key initiatives include addressing the challenges associated with hand-carried gold, developing an annual training plan for bullion industry professionals, formal engagement with bullion banks, and implementing the World Gold Council's Retail Gold Investment Principles. This includes development and deployment, conducting comprehensive gold market research, and more.
Ahmed bin Sulayem, Chairman and Chief Executive Officer of DMCC, said: “As one of the world's largest gold hubs, Dubai plays a key role in developing the global gold industry in line with the highest possible standards, including the UAE Government's Responsible Sourcing Framework. This strategic alliance with the World Gold Council joins a number of important agreements that DMCC has brokered with gold industry leaders in recent years and highlights our commitment to building and expanding innovation, integrity, and sustainability. Masu. Together, we will set new standards of excellence and increase accessibility and trust for market participants around the world.”
David Tait, CEO of the World Gold Council, said: “The collaboration program with DMCC is a key element of the strategic Gold247 initiative, which focuses on improving integrity and trust in gold markets around the world. We look forward to working with DMCC to create a more accessible and reliable gold market that benefits all participants in the region and beyond.”
Andrew Naylor, Head of Middle East and Public Policy at the World Gold Council, said:
“The UAE is a vital market for the gold industry and serves as a major hub for trade, investment and innovation. Through our presence in the Middle East and collaborative efforts with key stakeholders such as DMCC, we aim to enhance the integrity, transparency and efficiency of the gold market. This program is just the beginning of our long-term commitment to contributing to the health of the global gold market and improving the local gold market.. ”
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About DMCC
Headquartered in Dubai, DMCC is the world's most interconnected free zone and a major trade and corporate hub for goods. Whether developing vibrant precincts with world-class properties such as Jumeirah Lakes Towers and the coveted Uptown Dubai, or delivering high-performance business services, DMCC is committed to helping dynamic communities live, work and thrive. We provide everything you need. Built for trade, DMCC takes pride in sustaining and growing Dubai's position as a hub for global trade, now and into the future. www.dmcc.ae
