Page 10 - Bullion World Volume 02 Issue 08 August 2022

Bullion World | Volume 2 | Issue 08 | August 2022

a part of his family. Here at Sam, our standards and ourselves constantly, Gold is also looked upon as a symbol
primary investment and main asset is both individually and collectively, of status, as an investment product
manpower. as an organisation. We have been to hedge against risk; it is also
closely working on the development something that is used as a gifting
How much is Sam Precious Metals of our staff; if one goes to our item in marriages and rituals, and it
concerned about the environmental LinkedIn page, they will see our staff is something that is considered to be
effects and trying to take steps to posting about new courses that they very pious or auspicious as it brings
conserve energy and curb the amount are doing and new training they are in good luck and good fortune. So,
of pollution? undertaking and collectively, as a when you talk about the gold market
Mr Sadi: Absolutely, no waste goes team, we are focusing on enhancing in India, it’s tremendous, and Sam is
out of our factories. All the solid the skillset of our manpower. As a massive player in India already.
waste is sent to ash refineries where Mr Ahmad said, the heart of the
it is recycled; we have a recycling organisation is the people we are You will see our bars with almost all
plant for water within our factory working with, so while they are the big dealers here. With the launch
itself, so there is no drop of water contributing to our development, we of IIBX, we hope to be a major player
going out of our factory that is should also contribute towards their in this endeavour. With CEPA, we
polluted or above the prescribed limit development. This is something we have a significant role to play as we
by the government. We have a lot of are focusing on. are one of the refiners in the UAE,
regulators coming over to check our having the necessary accreditations.
systems. How do you see the Indian bullion
market and its potential for players Since you know how regulated this
We still believe, as a team, there’s like Sam Precious Metals? commodity is, how do you see the
a lot we have to do, Sam is not an Mr Sadi: India is one of the largest regulatory and compliance framework
organisation that will be satisfied with consumers of gold; on an average, changing in favour of demands?
what we have achieved and say we 800 tonnes are imported every year. Mr Sadi: For Sam, it is not about
have the best yet because we know Some data was published last year, regulation and framework; it comes
that our dreams and goals are much which said that in 2021, about 1,067 from the heart. These are the words
higher. When we get a certificate or tonnes of gold were imported into of our chairman, and he says, ‘I don’t
accreditation, we look to what’s next. India. Of course, gold consumption need a book or a law to tell me what
in India is also enormous. India has is right and wrong. I know it in my
You keep raising the benchmark? traditionally been a huge market, heart.’ So that is the vision he has
Mr Sadi: Absolutely, we as an and there are many reasons why imparted to us, and we are following
organisation believe that every day there’s a high demand for gold; there that.
is a new learning, a new challenge, are a lot of customs, traditions and
and we want to keep improving our passion for gold.

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