Page 12 - Bullion World Volume 02 Issue 08 August 2022

Bullion World | Volume 2 | Issue 08 | August 2022

DMCC: To ride the wave

along with India

Special Interview with
Mr Ahmed Bin Sulayem
Executive Chairman and CEO of
DMCC, who has been instrumental
in developing Dubai and UAE's gold
markets.

Mr Ahmed Bin Sulayem
Executive Chairman & CEO, DMCC

Can you explain how DMCC plays the region. A lot of the updates on
a role in developing the UAE gold DGCX are more about the technical
market? aspect, but we’ve managed to
The growth was very organic. introduce the first Indian Rupee
We started slowly, with just a few futures contract. We started with the
refineries launching their operations gold and silver futures; part of DGCX
in the Free Zone. We started marketing started in Delhi to reach
registering businesses in 2003. the Indian market. Alternatively, we
In the past few years, we started are going international as much
taking a leadership role and bringing as possible. DGCX is expected to
in more initiatives, such as the develop products and services for
OECD, and now pretty much all its members. Exchanges are being
our members are in line with OECD launched elsewhere, and DGCX
guidelines. We are still growing as a would face competition. Competition
gold business. is healthy as it helps to focus more
on quality.
DMCC, with the help of FTIL and
MCX, created the Dubai Gold and In recent developments, Etihad
Commodities Exchange, the first refinery became COMEX approved
online commodities exchange in refinery. We see the relevance of

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