{"id":4793,"date":"2023-11-24T15:43:38","date_gmt":"2023-11-24T13:43:38","guid":{"rendered":"https:\/\/www.dhcab.com\/?p=4793"},"modified":"2023-11-24T15:43:38","modified_gmt":"2023-11-24T13:43:38","slug":"world-gold-council-and-dubai-multi-commodities-centre-dmcc-collaborate-to-combat-illicit-hand-carried-gold-trade","status":"publish","type":"post","link":"https:\/\/www.dhcab.com\/?p=4793","title":{"rendered":"World Gold Council and Dubai Multi Commodities Centre (DMCC) Collaborate to Combat Illicit Hand-Carried Gold Trade"},"content":{"rendered":"<div class=\"postie-post\">\n<div>\n<div dir=\"auto\">Dubai, 21 November 2023\u00a0<\/p>\n<p>In a move to address the challenges posed by the illicit trade of hand-carried gold, the World Gold Council (WGC), in collaboration with the Dubai Multi Commodities Centre (DMCC), has announced a strategic initiative. This project will seek to strengthen and standardize international regulations and procedures, addressing a crucial gap in the responsible sourcing and trade of gold.<\/p>\n<p>Together, the two organisations will convene a group of industry stakeholders to identify the key challenges on both legitimate and illegal aspects of hand-carried gold and will conduct comprehensive research and analysis on the scale of illicit gold trade, focusing on the role of hand-carry methods. The result will be a set of policy recommendations that will address the forms of gold that can be hand-carried, definitions of acceptable personal limits, and the establishment of standardized customs declaration and digital tracking processes.<\/p>\n<p>Andrew Naylor, Head of Middle East and Public Policy, World Gold Council, said:\u00a0\u201cWhile the majority of gold is responsibly traded through a formal network, hand-carried gold does play a role in illicit trade, and our collaboration with DMCC is pivotal in addressing that challenge to the integrity of the global gold market.<\/p>\n<p>This is also an important component of our strategic Gold247 programme, focussed on improving integrity and trust. Together, we aim to establish a framework that tackles the current challenges and also paves the way for a more secure and responsible future in the gold trade.\u201d<\/p>\n<p>Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer, DMCC, added:\u00a0\u201cStricter measures on hand-carry gold are an urgent priority. The positive impact that this initiative will have on the legitimate gold mining communities across the world is immeasurable. This is a prime example of how Dubai and the UAE are demonstrating a true desire to enact positive industry reforms, so we are proud to be working alongside the World Gold Council on this crucial matter.\u201d<\/p><\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Dubai, 21 November 2023\u00a0 In a move to address the challenges posed by the illicit trade of hand-carried gold, the World Gold Council (WGC), in collaboration with the Dubai Multi Commodities Centre (DMCC), has announced a strategic initiative. This project will seek to strengthen and standardize international regulations and procedures, addressing a crucial gap in [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":4794,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[25],"tags":[],"class_list":["post-4793","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-global-issues"],"_links":{"self":[{"href":"https:\/\/www.dhcab.com\/index.php?rest_route=\/wp\/v2\/posts\/4793","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.dhcab.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.dhcab.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.dhcab.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.dhcab.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=4793"}],"version-history":[{"count":0,"href":"https:\/\/www.dhcab.com\/index.php?rest_route=\/wp\/v2\/posts\/4793\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.dhcab.com\/index.php?rest_route=\/wp\/v2\/media\/4794"}],"wp:attachment":[{"href":"https:\/\/www.dhcab.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4793"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.dhcab.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4793"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.dhcab.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4793"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}