-As a further step of the Memorandum of Understanding (MoU) previously signed between DMCC (Dubai Multi Commodities Center) and Borsa İstanbul, the parties decided that spot and futures trading and settlement of gold and other precious metals on a single platform will be initiated.

-It was confirmed that, at the first stage, the parties will cooperate in order to create delivery centers in Istanbul and Dubai.

Ahmed Bin Sulayem, Chairman of Dubai Multi Commodities Center (DMCC), the commodity exchange of the United Arab Emirates, paid a visit to Himmet Karadağ, Borsa İstanbul Chairman of the Board and Executive Committee.

At the meeting, the parties discussed and evaluated the efforts towards establishing a Gold Exchange of the Islamic countries as ordered by H.E. President Recep Tayyip Erdoğan.

Within this framework, as a further step of the Memorandum of Understanding (MoU) previously signed between DMCC and Borsa İstanbul, the parties decided that spot and futures trading and settlement of gold and other precious metals on a single platform will be initiated. Furthermore, it was confirmed that, at the first stage, the parties will cooperate in order to create delivery centers in Istanbul and Dubai.

In addition to gold and other precious metals and precious stones such as diamond and pearl, DMCC offers the trading of a wide range of commodities including tea on both spot and futures markets. Borsa İstanbul, on the other hand, offers both spot and futures trading platforms for precious metals such as gold, diamonds and precious stones. Gold futures contracts are also offered to the investors on Borsa İstanbul.

This cooperation is expected to further strengthen the position of Istanbul and Dubai in the global physical gold trade as a result of the synergy to be created by the common efforts. The potential of the gold trade is expected to be realized as other Islamic countries take part in this cooperation.