UAE considers creating UAE Good Delivery Standard, federal gold platform
- Date: 07-Dec-2020
- Source: Mubasher
- Sector:Oil & Gas
- Country:uae-top-picks
UAE considers creating UAE Good Delivery Standard, federal gold platform
The UAE Ministerial Development Council has studied the establishment of the UAE Good Delivery Standard and a federal platform for gold trading and tracking, according to the Emirates News Agency (WAM).
The UAE Good Delivery Standard will be regarded as a benchmark that will provide quality and technical specifications for gold production and rules describing the physical characteristics of gold used in the wholesale.
During its meeting held on Sunday, 6 December, the Ministerial Development Council highlights ways to promote growth in the gold sector, which represents 29% of the total non-oil foreign trade exports of the UAE.
The Council also mulled forming a specialised committee to supervise the UAE bullion market.
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