The Dubai Multi Commodities Centre (DMCC) is a strategic initiative of the Dubai government created to establish a commodity market place in Dubai. Rated 'A' by Standard & Poor's, it provides industry-specific market infrastructure and a full range of facilities for the gold & precious metals, diamonds & colored stones, energy and other commodities industries.
DMCC is also a free zone authority offering 100% business ownership, a guaranteed 50 year tax holiday and freehold property options, purpose-built infrastructure on a freehold or leasehold option and one stop shop facility for processing of all documentation including immigration, registration and licensing.
Popularly known as the 'City of Gold', Dubai is ideally located amidst a large consumer market, and uniquely positioned to channel gold from the international market to its ultimate destination. Throughout history Dubai has played a significant role in the global gold market and is now a bullion centre of international significance.
The Dubai Multi Commodities Centre will integrate the refining, manufacturing and trading of gold, as well as introduce the trading of other precious metals such as platinum, palladium and silver. DMCC's planned market infrastructure developments will strengthen Dubai's position as the leading regional centre for precious metals.
Dubai is set to join leading international diamond centres including Antwerp, New York and Mumbai. The Diamond division within DMCC is aiming to establish Dubai as a diamond trading and value-adding centre of global significance. DMCC has been instrumental in implementing the Kimberley Process Certification Scheme (KPCS) in the United Arab Emirates as part of its endeavor to streamline the trade with global standards and protecting the legitimate diamond industry. The UAE is proudly the first Arab country to implement KPCS.
Housed in the purpose-built landmark Almas Tower (Almas means 'diamond' in Arabic), Dubai's diamond community is set to sparkle more brightly than ever.
Dubai has become the first dedicated commodities centre in the time zone between Europe and the Far East. Located at the crossroads of trade flows between the Arabian Peninsula, Iran, India and Africa, Dubai has been a regional commodity-trading centre throughout its history. This tradition is today reinforced by Dubai's outstanding port facilities and its emerging status as a modern financial centre.
Not only will the Dubai base supply the local market, it will act as a trans-shipment and staging point for the Middle East and beyond.
Through development of the industry specific market infrastructure, DMCC will increase the value and volume of traded commodities in and through Dubai. The Dubai Multi Commodities Centre (DMCC) is building on these natural strengths to reinforce Dubai's position as a regional hub for the trading of commodities.
DMCC is developing value-added services and promoting new sources of finance in line with the needs of the growing market and its participants. The provision of ancillary services such as; commodity finance, insurance and price risk management facilities are just some of the initiatives within the scope of DMCC's projects.
DMCC's continues to identify opportunities where it can add value to the operations of commodity traders and processors. It has already announced significant initiatives in relation to commodity warehouse receipts (applicable to commodities generally, rather than to specific products), and tea. Looking forward DMCC has under active consideration a range of projects relating to specific commodities ranging from metals to soft commodities to energy products.
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