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.