Dubai is building advanced financial markets to consolidate its position as a global center for gold and precious metals

His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance, confirmed that the launch by Emirates NBD of the first gold bullion bearing the mark of a national banking institution represents a qualitative addition to investment and savings tools, and reflects the maturity of the asset system in Dubai.

His Highness said in a blog post on the “X” platform: “Emirates NBD launched the first gold bullion bearing the mark of a national banking institution, which represents a qualitative addition to investment and savings tools, and reflects the maturity of the asset system in Dubai.”

His Highness added: “Dubai is building advanced financial markets based on diversification, innovation, and enhancing confidence. With this approach, we continue to implement Dubai’s economic agenda by developing competitive markets, attracting capital, and consolidating Dubai’s position as a global center for gold and precious metals.”

In a historic step in the financial and precious metals market in the United Arab Emirates, Emirates NBD, the leading banking group in the Middle East, North Africa and Turkey, issued the “Emirates NBD Gold Bullion” in the presence of His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman of the Board of Directors of the Emirates NBD Group and senior officials in the group.

The Emirates NBD Bar is the first gold bar to bear the private brand of a banking institution in the United Arab Emirates. It is designed for savers and investors, and constitutes an important milestone in the growth of the gold sector in Dubai.

The launch of the gold bullion contributes to enhancing Dubai’s reputation as a global center for trade and investment in gold, and this step is also in line with the broader national vision to stimulate financial innovation, diversify assets, and accelerate the digital transformation agenda, which strengthens Emirates NBD’s position as a major player in implementing this agenda.

In this regard, His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman of the Board of Directors of Emirates NBD Group, said: “It is our pleasure and pride to announce the launch of the Emirates NBD Gold Bullion, which constitutes an important milestone in the transformation process that Emirates NBD is embarking on. The issuance reflects the bank’s position in the banking sector and its ability to launch quality products that meet the aspirations of investors and achieve global competitiveness in the banking sector.

This issuance is considered a step in our efforts towards achieving greater innovation and competitiveness in the gold markets, with the support of the wise leadership in the United Arab Emirates. This alloy reinforces our rich heritage and reflects our continuing efforts to support the national economy, drive long-term economic growth, and accelerate the development path in the region.”

For his part, Hisham Abdullah Al Qassim, Vice Chairman and Managing Director of Emirates NBD Group, said: “Emirates NBD has always been part of the growth process of the United Arab Emirates since 1963 when we issued the first letter of credit, and this contributed to opening up the horizons of gold trade. Today we continue this legacy as the first bank to issue a gold bullion bearing its brand, as an investment product, thus combining the richness of tradition and innovation.”

The Emirates NBD gold bullion will be available for sale to all the bank’s customers in the form of an Emirates NBD gold certificate that can be exchanged at any time. The gold certificate from Emirates NBD allows the investor to keep the gold bullion with the bank or receive the gold upon the customer’s request. The Emirates NBD Gold Certificate will be available to all its customers through their relationship managers and on our digital platform as well. The Emirates NBD gold bar will be available in denominations of 10, 50 and 100 grams, stamped with the Emirates NBD logo, and each bar comes with a unique certificate to prove its authenticity and ownership.

This strategic step represents an embodiment of the vision and strength of the Emirates NBD brand, and contributes to consolidating its position as a regional leader in the field of global banking innovation, always seeking to expand its product offerings and open new horizons of wealth by meeting the growing needs of customers and supporting community development.