Dubai is consolidating 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, yesterday: “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 UAE, Emirates NBD Bank 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.

A statement issued yesterday stated that the “Emirates NBD Bank Bullion” is the first gold bullion to bear the private brand of a banking institution in the UAE. It is designed for savers and investors, and constitutes an important station in the growth process of the gold sector in Dubai.

According to the statement, 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.

His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman of the Board of Directors of Emirates NBD Group, said that the launch of the Emirates NBD Gold Bullion constitutes an important milestone in the transformation process undertaken by Emirates NBD, and 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.

His Highness added: “This issuance is a step in our efforts towards achieving greater innovation and competitiveness in the gold markets with the support of the wise leadership in the UAE. This bullion enhances our rich heritage and reflects our continuing efforts to support the national economy, advance long-term economic growth, and accelerate the path of development in the region.”

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

The Emirates NBD gold bullion will be available for sale to all the bank’s customers in the form of a gold certificate that can be exchanged at any time, and allows the investor to keep the gold bullion with the bank or receive the gold, based on the customer’s request.

The gold certificate from Emirates NBD will also be available to all its customers, through their relationship managers, and on the digital platform as well. The bullion will be available in denominations of 10 grams, 50 grams and 100 grams, stamped with the Emirates NBD logo. Each bullion also comes with a certificate to prove its authenticity and ownership.

• The bullion is designed for savers and investors… and is available in denominations of 10, 50 and 100 grams.

Ahmed bin Saeed:

• The issuance of the bullion reflects Emirates NBD’s position in the banking sector, and its ability to launch quality products that meet investors’ aspirations.