Ellah Muchemwa: ADPA to launch Africa's first diamond mining standard next year

The African Diamond Producers Association (ADPA), which is based in Luanda, Angola, and represents the interests of mainly African diamond producers and those with the potential to produce diamonds, will next year launch the Sustainable Development...

Yesterday

Dmitry Fedorov: I want our jewelry to be displayed at a museum in the future

Dmitry Fedorov is the founder of the eponymous jewelry house. His main focus is the creation of Orthodox-inspired premium luxury jewelry of high artistic merit. He told Rough&Polished about his journey in the jewelry industry, about choosing the ‘Orthodox...

28 october 2024

Responsible business practices ‘no longer optional’, says WDC President Feriel Zerouki

The president of the World Diamond Council takes time out of her busy schedule to tell Rough&Polished readers about the critical work of the WDC. Zerouki, the first female present of the body, which includes all the important industry organizations among...

14 october 2024

James Campbell: Botswana Diamonds optimistic as it enters uncharted territory of using AI for mineral exploration

London-listed Botswana Diamonds has expressed optimism about the company’s use of artificial intelligence (AI) to scan the exploration database in Botswana to look for new mineralised deposits. Company managing director James Campbell told Rough...

07 october 2024

Artur Salyakayev: For me, happiness is freedom to make my ideas happen and create valuable products

Artur Salyakayev is an art entrepreneur, founder of the International Jewelry Academy (IJA) and the INCRUA jewelry company. He has initiated and developed successful projects in jewelry industry and services sector. He is also a leading expert...

30 september 2024

DGCX launches GCC’s first Shari’ah Compliant Silver Spot Contract

25 october 2023

The Dubai Gold & Commodities Exchange (DGCX), the largest and most diversified derivatives exchange in the Middle East, announced the launch of the GCC’s first Shari’ah Compliant Silver Spot Contract (DSSC), aimed at providing investors with a reliant and transparent platform for trading the white metal.

Having received regulatory approval from the UAE Securities and Commodities Authority (SCA), the new contract will be available for trading from 27 October 2023. DGCX will also be waiving its fees for the DSSC contract until 31 December 2023. With the launch of DSSC, investors will, for the first time, be able to invest in physical silver through an exchange in the GCC with the benefit of a central counterparty clearing house, mitigating credit risk. .

Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer, DMCC, said: “The world will see accelerating demand for silver as the precious metal is increasingly used in industries like solar energy and investors maintain their focus on asset diversification. This, combined with the increasing maturity of the global Islamic finance industry, has created the ideal environment for DGCX to launch the region’s first Shari’ah Compliant Silver Spot Contract. Based on our discussions with the market and the success of our Shari’ah Compliant Gold Spot Contract launched in 2018, we expect to see significant interest in DSSC from both traders and investors looking to access silver in a secure and reliable way. We look forward to working closely with our members to continue bringing innovative contracts to the market in the months and years ahead.”

Aruna Gaitonde, Editor in Chief of the Asian Bureau, Rough & Polished