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DMCC says gold traded through Dubai in 2012 hit $70bn
- United Arab Emirates: Thursday, April 11 - 2013 at 02:00
Dubai Multi Commodities Centre (DMCC) has said the volume of gold traded through the emirate in 2012 has reached $70bn, PTI has reported. "By building financial and physical infrastructure and developing the right regulation in line with international standards, DMCC has established Dubai as a major bullion centre and a global gateway for commodities trade," said DMCC executive chairman, Ahmed bin Sulayem. The free zone authority plans to develop Dubai's local and regional banks into bullion banks to address the needs of suppliers in Africa and consumers in India, he said.
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