Dubai Good Delivery
In line with its ambitious drive to promote international standards for the local and regional trade, DMCC has developed the Dubai Good Delivery standard. This standard, specifically designed for small gold bars will, in DMCC’s view, fully complement the London Good delivery standard for large 400 ounce bars. The creation of this standard will improve tradeability and distribution of small bars and will enhance the reputation of approved refineries. By ultimately increasing confidence in the quality of gold bars for the local and regional markets, this system will in turn create extra trade finance activities. Approved bars will also meet delivery requirements for the Dubai Gold & Commodities Exchange, thus easing processes for active market participants.
Refiners of gold bars conforming to the standards of the Dubai Good Delivery will be added to the Dubai Good Delivery List, created and maintained by DMCC. The qualifying criteria is designed to ensure the sustainability of the refinery’s operations with a specified volume of production and a minimum tangible net worth, along with appropriate KYC procedures as defined by DMCC. Refineries must maintain strict standards of creditworthiness, financial strength, operational competency and superior production procedures, ensuring the manufacturing of high quality gold with a minimum purity of 995. The small gold bars produced by these refiners must meet certain specifications of weight, fineness, appearance and marks.