Responsible Sourcing of Precious Metals

DMCC is committed to responsible sourcing and continuously looks to embrace and develop the very latest international standards in due diligence and responsible supply chain management. In the short space of 12 years, DMCC has established a unique eco-system to support a range of commodity sectors, including a robust regulatory framework and innovative physical and financial infrastructure and services.

DMCC's role

DMCC has played an instrumental role in ensuring Dubai remains at the forefront of the global gold trade through the establishment of the appropriate responsible sourcing regulatory and ethical standards, such as the DMCC Practical Guidance for Market Participants in the Gold and Precious Metals Industry (the “DMCC Guidance”) and the DMCC Review Protocol, which collectively is now referred to as the DMCC Rules for Risk Based Due Diligence in the Gold and Precious Metals Supply Chain (the “DMCC Rules for RBD-GPM”) 

The DMCC Rules for RBD-GPM is fully aligned with the globally accepted OECD Due Diligence Guidance for Responsible Supply Chains of Minerals from Conflict-Affected and High Risk Areas – Supplement on Gold (the “OECD Guidance”) and other similar international standards as confirmed by an independent benchmarking analysis report issued by SGS UK. To download a copy, please click the below links:

SGS Report dated June 2013
SGS Report dated August 2014

In the global gold industry, DMCC is one of the six members of the OECD’s Multi Steering Group (the “OECD MSG”) and continues to provide recommendations and feedback for matters discussed at the OECD MSG that may have an impact on the global implementation of the OECD guidance.

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DMCC Rules for RBD-GPM

DMCC Rules for RBD-GPM was introduced in April 2016. Compliance with the DMCC Rules for RBD-GPM ensures mandatory implementation of the OECD Guidance for members of DMCC’s Accreditation Initiatives and voluntary implementation for other market participants.

Download a copy of the DMCC Rules for RBD-GPM 

Additional Downloads

1. DMCC List of Approved Reviewers

2. DMCC Guidance – Version 1 inEnglish,Arabic,Hindi,Malayalam,French,TurkishandSpanish

3. DMCC Review Protocol – Version 3.3

4. DMCC Review Protocol - Version Control

Useful website links

1. OECD Guidance 

2. DMCC’s Accreditation Initiatives

3. DMCC’s Anti-Money Laundering and Combating Financing of Terrorism Policy

4. DMCC’s Guidance for Designated Non-Financial Businesses and Professionals



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Recognition with International Standards


Comparative analysis of the DMCC Responsible Sourcing Guidance 

In June 2013, DMCC appointed SGS London 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.

Download the Comparative Analysis of the DMCC Responsible Sourcing Guidance and other Relevant Initiatives report – June 2013
Download the Comparative Analysis of the DMCC Responsible Sourcing Guidance and other Relevant Initiatives report – August 2014


 Independent Governance Committee for Responsible Sourcing 

The Independent Governance Committee for Responsible Sourcing was established in January 2015. It provides an independent oversight role on assessments performed pursuant to DMCC's Review Protocol. 

The Committee's objectives include:

  • To ensure consistency, transparency and robustness of the implementation of the Guidance for responsible sourcing of gold and related review process in accordance with the Review Protocol
  • To uphold the integrity of the review process for DMCC’s responsible sourcing programme
  • To perform the annual review of the governance framework for the programme
  • To ensure continuous improvement of the programme

The Committee is composed of industry experts and key stakeholders representing different market segments and geographies. 

Committee members are:

  • Effie Marinos, Sustainability Manager, Consumer Testing Services, SGS London (Committee Chair)
  • Tawhid Abdulla, Chairman, Dubai Gold and Jewellery Group
  • Paul Motmans, CEO, MineralCare
  • Pankaj Parekh, Vice-Chairman, Gems and Jewellery Export Promotion Council of India (GJEPC)
  • Gerhard Schubert, Precious Metals Expert
The short form of the IGC meeting minutes are available here: IGC meeting 22 February 2015,IGC meeting 12 March 2015,IGC Meeting 27 July 2015andIGC Meeting 5 October 2015