Emirates NBD Pioneers Physical Cross-Border Gold and Silver Bullion Transaction Service - Middle East Business News and Information
Launched in the beginning of May 2025, the first-of-its-kind facility supports the refining and sale of gold in accordance with gold and silver London Bullion Market Association (LBMA) and UAEGD approved standards. Integrated within a banking framework, the service represents a milestone for a regional financial institution and positions Emirates NBD as an accessible and trustworthy service provider operating at the heart of the rapidly developing market for safe-haven assets, both regionally and beyond.
Establishing Emirates NBD as the bullion partner of choice, the service will deliver a comprehensive range of products to Emirates NBD's Corporate, Institutional and Retail Banking and Wealth Management clients.
With the launch of its bullion service, Emirates NBD is fully aligned with the UAE's comprehensive and forward-looking policy of expanding its position as a leading gold trading destination. Currently, between 20-30% of the world's gold passes through Dubai, placing the emirate among the globe's top three gold hubs alongside Switzerland and London. The new service ably supports Emirates NBD's ongoing strategy to expand its growth footprint across locations and elevates its value proposition as the go-to, one-stop-shop for clients seeking diverse and trusted investments.
The UAE's largest bank, Emirates NBD will engage bullion clients by offering competitive market pricing, market-based gold and silver lease rates, as well as short-term liquidity solutions with precious metals as collateral. The availability of fully backed, secure, and redeemable gold certificates means clients can own gold stored in secure vaults without physical possession, allowing them to buy, sell, or pledge certificates as collateral in the market.
Ahmed Al Qassim, Group Head of Wholesale Banking at Emirates NBD, said: 'The launch of Emirates NBD's new bullion service is part of our ongoing vision to diversify, expand, and evolve the range of services and transactions that are available to our network of customers across different locations. A unique offering from a leading regional financial institution, this service taps into growing demand from our clients who are increasingly seeking easy, swift and trusted access to the precious metal market while simultaneously helping to strengthen the UAE's deeply rooted status as an important and vibrant gold trading hub. With Emirates NBD as the go-to bullion partner, our clients in the UAE and further afield can enjoy a range of investment and trade opportunities within an established and sought-after sector that continues to evolve, develop, and define its importance in the face of the economic trends that are shaping today's markets, both globally and regionally.'
Ammar Al Haj, Group Treasurer and Head of Global Markets at Emirates NBD, said: 'As the UAE, and Dubai in particular, has grown to be one of the most important destinations for gold trading, it's essential that we continue to engage clients through new functions that offer unique value propositions. The launch of Emirates NBD's new bullion product marks a bold step forward for the region — a transformative milestone that reflects our commitment to innovation, scale and client-centricity. As the first regional bank to introduce a physical gold and silver bullion transaction service with international reach, we're not only expanding our financial product suite, but also unlocking new pathways for institutional, corporate and individual clients to access trusted, cross-border precious metal solutions through our growing global network.'
Interested clients are encouraged to connect with their bank Relationship Manager to explore how they can benefit from this service.
About Emirates NBD:
Emirates NBD (DFM: Emirates NBD) is a leading banking group in the MENAT (Middle East, North Africa and Türkiye) region with a presence in 13 countries, serving over 9 million active customers. As at 31st March 2025, total assets were AED 1 trillion, (equivalent to approx. USD 272 billion). The Group has operations in the UAE, Egypt, India, Türkiye, the Kingdom of Saudi Arabia, Singapore, the United Kingdom, Austria, Germany, Russia and Bahrain and representative offices in China and Indonesia with a total of 839 branches and 4,539 ATMs / SDMs. Emirates NBD is the leading financial services brand in the UAE with a Brand value of USD 4.54 billion.
Emirates NBD Group serves its customers (individuals, businesses, governments, and institutions) and helps them realise their financial objectives through a range of banking products and services including retail banking, corporate and institutional banking, Islamic banking, investment banking, private banking, asset management, global markets and treasury, and brokerage operations. The Group is a key participant in the global digital banking industry with 97% of all financial transactions and requests conducted outside of its branches. The Group also operates Liv, the lifestyle digital bank by Emirates NBD, with close to half a million users, it continues to be the fastest-growing bank in the region.
Emirates NBD contributes to the construction of a sustainable future as an active participant and supporter of the UAE's main development and sustainability initiatives, including financial wellness and the inclusion of people of determination. Emirates NBD is committed to supporting the UAE's Year of Sustainability as Principal Banking Partner of COP28 and an early supporter to the Dubai Can sustainability initiative, a city-wide initiative aimed to reduce use of single-use plastic bottled water.
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