Responsible Sourcing of Precious Metals
DMCC has three accreditation initiatives for responsible sourcing of gold as follows:
Dubai Good Delivery (DGD)
The Dubai Good Delivery standard was developed by DMCC in 2005 and is regarded as the international benchmark for quality and technical specification for the production of gold and silver.
To access the current Dubai Good Delivery member list, please click the relevant link: DGD Gold Members | DGD Silver Members
Market Deliverable Brand (MDB)
The DMCC’s Market Deliverable Brand is an accreditation initiative that certifies gold and silver refineries (of minimum 1 year of operations) for their quality and technical production of gold and/or silver. For gold refineries, the certification also includes responsible sourcing of their gold bars in accordance with the ‘DMCC Guidance’ and ‘Review Protocol’. Membership is renewable on an annual basis.
To access the current Market Deliverable Brand member list, please click the relevant link: MDB Gold Members | MDB Silver Members
Responsible Market Participant (RMP)
The DMCC’s Responsible Market Participant is an accreditation initiative that certifies gold market participants (such as gold traders, jewellers, manufacturers, etc of minimum 1 year of operations) for responsibly sourcing of gold in accordance with the ‘DMCC Guidance’ and ‘Review Protocol’. Membership is renewable on an annual basis.
Purpose & Benefits for refineries and/or global industry participants
• Globally accepted industry benchmark and reference point for global market participants to ensure their supply chain is free from conflict ‘gold and/or precious metals’
• Creates a common understanding of the assessment process and determines the level of conformity with the DMCC guidance
• Provides assurance on the adequacy of the due diligence procedures conforming to the DMCC guidance
• Comparative Analysis of the DMCC Responsible Sourcing Guidance and other Relevant Initiatives.
Carried out for DMCC by SGS United Kingdom Ltd June 2013
In 2013 DMCC appointed SGS consultants to conduct an expert report comparing DMCC’s Practical Guidance for market participants in the Gold and Precious Metals’ industry (“the DMCC guidance”) with other similar internationally accepted guidelines and industry standards such as those of the Organisation for Economic Co-operation and Development (“the OECD”). The report, published in August 2013, concludes that the DMCC’s Responsible Sourcing Guidance and Review Protocol is aligned with the OECD standards and other international benchmarks.
DMCC has worked with the Organisation for Economic Co-operation and Development (OECD) advisory group, the developers of the responsible gold guidelines, to develop the ‘Practical Guidance for Market Participants in the Gold and Precious Metals Industry’ (the DMCC “Guidance”). DMCC has taken a leading role in the UAE in engaging Dubai-based gold refiners, traders, companies and representatives to develop and facilitate the implementation of the Guidance in an efficient and cost-effective manner. DMCC is also collaborating with various Governmental Agencies to formalise the implementation of the DMCC Guidance across the UAE.
Gold and precious metals market participants can report any adverse information with regards to conflict gold to DMCC in confidence – email@example.com
In April 2012, DMCC issued a risk management reference manual, ‘Practical Guidance for market participants in the Gold and Precious Metals’ industry (“the DMCC guidance”). Its purpose is to assist DMCC-licensed members and other industry participants in the UAE to enforce acceptable standards of due diligence and responsible supply chain management when sourcing gold and precious metals from conflict-affected and high-risk areas. The DMCC guidance incorporates a ‘5-Step’ framework that relies on each stakeholder within the supply chain to collectively work together to ensure due-diligence is carried out at the highest level.
The DMCC guidance can be downloaded in English, Arabic, Hindi, Malayalam, French and Turkish
From June 2012, DMCC made it a mandatory requirement for all ‘Dubai Good Delivery’ member refineries (“DGD Refineries”) for gold and silver to comply with and implement all of the provisions of the DMCC Guidance.
DMCC Review Protocol
In November 2012, DMCC issued the ‘Responsible Sourcing of Precious Metals Review Protocol’ (the DMCC review protocol), which will ensure that Dubai Good Delivery (DGD) accredited member refineries and global industry participants that have adopted the guidance are compliant with the DMCC issued guidelines. Version 3.1 of the Review Protocol was released in June 2013 with minor updates which provide clarification on amended areas such as role of the DMCC review committee and definition of compliance with low risk deviations. Additional sections have been enhanced such as public reporting and annual review requirements.
The DMCC Review Protocol will provide guidance to international audit firms and DMCC approved reviewers for conducting assessments on DGD member refineries’ due diligence processes, as well as ensure a level of conformity when implementing the DMCC Guidance. The Review Protocol promotes responsible sourcing throughout DGD accredited refiners supply chain and will serve as an international industry benchmark.
Gold and precious metals market participants can report any adverse information with regards to conflict gold to DMCC in confidence on firstname.lastname@example.org