DMCC vault opens for operations

1. Offers world-class storage facilities for Banks, Corporates and HNWI’s
2. Strategically located in Jumeirah Lakes Towers freezone community and close to the international airports of Dubai and Abu Dhabi
3.  Brink’s Global Services appointed as vault operators

Dubai Multi Commodities Centre (DMCC) today announced that its new Vault will be operational from April 26, 2009.  Situated in the heart of the Jumeirah Lakes Towers freezone community, the DMCC vault combines the advantages of a unique location together with the highest global security standards.  The vault is intended for both short and long term storage of precious metals and other high-value products.

The vault will be open to local and international Banks, Corporates, HNWIs and DMCC members and uses the latest security equipment and inventory management systems. The vault is protected 24/7 by dedicated operational security and surveillance teams and offers state-of-the-art vaulting facilities to satisfy customers’ storage requirements. A direct link with Dubai Police Control Room helps ensure the fastest possible emergency response.

DMCC has appointed Brink’s Global Services (BGS), the market leader in risk management and secure logistics for the complete day-to-day operations and management of the new vault.

“In Dubai, the trade in precious metals and high-value products has a long and proud tradition,” said Dr. David Rutledge, Chief Executive Officer, DMCC. “With the DMCC Vault commencing operations, we can now further support this tradition by offering state of the art infrastructure and storage facilities that are an essential feature of a successful commodities hub”.

Commenting on the appointment of Brinks as vault operator, Malcolm Clingham, General Manager for Brink’s Global Services, said “It is a matter of great pride for us that DMCC has appointed Brink’s as the vault operator. Brink’s has a proud 150-year history of service excellence in vault operations and secure transportation and we aim to build on our expertise to offer DMCC and its clients leading edge vaulting and security services.”

Taking advantage of the UAE’s strategic location at the crossroads of global trade flows, the DMCC Vault benefits from the facility’s close proximity to Dubai International Airport, Abu Dhabi International Airport and Jebel Ali Port. Its operational features include drop-off handling facilities for small consignments, allocated storage for both long and short term storage as well as competitive storage and handling charges.

Dubai, often dubbed the City of Gold, has historically been an international hub for the trade of high-value products. Last year, Dubai’s gold trade alone increased in value by 53 per cent, according to information released by Dubai World Statistics Department. Dubai’s strategic location also lends itself to re-exporting and trans-shipment activities, providing greater and easier access to the rest of the Middle East and North Africa, Europe and Asia.

About DMCC
DMCC was created in 2002 as a strategic initiative of the Dubai Government to establish a commodity marketplace in Dubai and is committed to serve the needs of participants in the gold, diamonds and commodities markets. Resident companies of DMCC are offered highly attractive benefits under a free zone status, including a 50-year guaranteed tax holiday, 100 per cent business ownership, full ownership of business premises, and a secure regulated environment.