DUBAI: DGCX Signs MoU with Financial Markets Regulatory in Sudan to Strengthen Gold Market Across Africa

Tuesday June 22 2021

On 22^nd June 2021, the Dubai Gold & Commodities Exchange (DGCX) announced the signing of a Memorandum of Understanding (MoU) with the Financial Markets Regulatory Authority (FMA) in Sudan to strengthen bilateral cooperation in the trading of gold between the UAE and Sudan through the exchange of experiences. The agreement will see the DGCX and FMA collaborate on areas of mutual benefit, foster collaboration, and exchange knowledge around gold trading.

Sudan is ranked as the third largest producer of gold in Africa, and earlier last year begun allowing private traders to export the precious metal in an effort to raise revenue. In line with this initiative, FMA aims to strengthen the gold market in Sudan by facilitating trading and investment. Through this collaboration with the DGCX, it will be able to benefit from the expertise of the Middle East’s leading and most diversified derivatives and commodities exchange.

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