DMCC initiative to certify gold, silver refineries
Dubai, February 3, 2014
Dubai Multi Commodities Centre (DMCC), the region’s global gateway for commodity trade and enterprise, has launched its new responsible sourcing Market Deliverable Brand (MDB) accreditation initiative.
The initiative is designed to certify gold and silver refineries (in operation for over one year) for their quality and technical production of gold and silver.
For gold refineries specifically, the certification also includes responsible sourcing of gold bars in accordance with the ‘DMCC Guidance’ and ‘Review Protocol.’
Gautam Sashittal, chief executive officer, said: “It is important for Dubai, as one of the largest physical gold trading hubs in the world, to give industry participants the assurance that they can trade with confidence knowing that upcoming refineries in the UAE and globally comply with international trade and responsible sourcing best practices.
“DMCC’s Market Deliverable Brand (MDB) accreditation initiative will enable refineries in operation for over one year to ensure their gold is sourced responsibly and that their gold and/or silver production processes are in line with globally accepted best practices to assure quality of their gold and/or silver products.”
The centre has been at the forefront of issuing and implementing guidelines in conjunction with the Organisation for Economic Co-operation and Development (OECD) and other international bodies to promote responsible supply chain management for gold and other precious metals. - TradeArabia News Service