DMCC to launch new series of UAE gold and silver bullion coins - GulfToday

DMCC to launch new series of UAE gold and silver bullion coins

The coins will be made available for purchase after Ramadan.

The coins will be made available for purchase after Ramadan.

DMCC, the world’s flagship free zone and Government of Dubai Authority on commodities trade and enterprise, has unveiled prototypes of a new series of gold and silver bullion coins that celebrate the achievements of the UAE over the last 50 years.

The coins will be made available for purchase after Ramadan.

Announced at the 2022 edition of the Dubai Precious Metals Conference (DPMC), the coins are the result of a partnership with Czech Mint, the official supplier of currency coins to the Czech Republic’s central bank.

The agreement was signed by Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer of DMCC; and Michal Drtina, CEO and Chairman of the Board, Czech Mint.

Representing the success of the UAE, the new prototype bullion coins feature a range of designs including the image of President His Highness Sheikh Mohamed Bin Zayed Al Nahyan; His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai; and the Louvre Abu Dhabi to reflect the UAE’s standing as a major global cultural destination.

This unveiling marks DMCC’s role to support the gold and precious metals trade landscape globally, which will build up throughout the year and culminate in DMCC’s annual Dubai Precious Metals Conference later this year. As one of the global precious metals industry’s must-attend events, the DPMC seeks to seize opportunities and tackle the challenges faced by the sector.

DMCC will be looking to mint previous editions of its popular gold coins with Czech Mint.

Throughout 2022, DMCC bolstered its facilitation of the wider gold ecosystem: DMCC’s Dubai Gold and Commodities Exchange (DGCX) signed an MoU with FinMet to expand DGCX’s gold product offering and market participation by providing facilities for bullion traders to raise short-term funds with new gold contracts.

DMCC signed agreements with Comtech Gold and SafeGold to offer physical gold-backed digital assets to positively disrupt the US$20 billion gold industry in the Middle East.

Alongside supporting the second edition of the Jewellery Gem and Technology (JGT) Dubai B2B trade show, DMCC also hosted a range of high level delegations from key gold markets including the UK’s Royal Mint and multiple African nations, with all conversations revolving around advancing the trade of precious metals globally.

Accelerator programme: DMCC, the flagship free zone and Government of Dubai Authority for commodities trade and enterprise, and Companies Creating Change (C3) have awarded Dhs180,000 in cash prizes to three winners of the ‘DMCC Impact Scale-Up Programme Powered by C3’.

The six-month programme supports the growth of impact-driven businesses that align with the UN Sustainable Development Goals, and it represents a part of DMCC’s ESG strategy. As the UAE prepares to host COP28 and lead the conversation that drives the global sustainability agenda, the programme comes to an end. Fifteen impact-driven SMEs addressing some of the world’s most pressing sustainability challenges pitched their companies to a panel of business experts from PwC, Global Ventures, Astrolabs, and Brunswick in a pitch day that marked the end of the programme.

The winners of the programme are Grocedy, a Nigerian FoodTech platform that aggregates micropayments from low and middle-income earners towards a monthly food subscription and other micro financial services, EatCloud, a Colombian start-up that uses AI and blockchain technology to redistribute surplus food worldwide, reducing waste and supporting food banks globally, and Chefaa, an Egyptian GPS-enabled pharmacy benefits platform that allows patients to order, schedule and refill recurring prescriptions as well as all pharmacy needs.