USD 25 million finance facility for ARY Aurum Plus

The agreement was signed in Dubai by Mr. Yaqoob Iqbal, Director, ARY GROUP, Mr. Sirajuddin Cassim, Management Consultant Pvt Ltd. / Chairman and CEO, and Former President Karachi Stock Exchange and Fuad Kehar, Group Head Corporate Finance, First Standard Investment Bank Ltd. In the presence of Haji Abdul Razzak Yaqub, Chairman ARY GROUP.

In a major step to further promote the vision of His Highness General Sheikh Mohammad bin Rashid Al Maktoum, Crown Prince of Dubai and UAE Defense Minister, to establish Dubai as a leading center for international business, the ARY Group has embarked upon the creation of the ARY Aurum plus, a state of the art gold and jewelry refining and production complex located in the Dubai Metals and Commodities Center.

The ARY Group, a family owned business, was established in 1970 in Dubai. Since its inception, the company has become one of the largest Gold dealers in the world; and over the last 32 years, it has played a vital role in promoting Dubai as the city of gold throughout the world. With ARY Aurum plus the ARY group will be redefining the gold and jewelry industry and attracting gold miners from across the globe. The facilities of ARY Aurum Plus will consist of a gold refinery with a capacity of over 100 tons per year.