The Dubai Metals and Commodities Centre (DMCC) has hosted a delegation from one of the largest bullion banks in Russia, Bank Zenit. As country host, DMCC introduced the Russian delegation to leading representatives of the United Arab Emirates (UAE) based bank and bullion industry in an effort to help the Russian bank further understand the benefits and business opportunities available to UAE based companies.
Bank Zenit representatives, Vice President Victor Andreev, Vice President Michail Tarasov, and Associated Manager for Precious Metals Kirill Popov all joined companies from the UAE bullion and gold trade and bullion-banking sectors.
Bank Zenit was one of the first Russian commercial banks to start a precious metals business in the mid 1990's. The bank was the first to attract pre-export financing for Russian producers from international financial institutions as well as one of the first in to offer hedging schemes for clients.
At an earlier meeting, Bank Zenit presented the Russian bullion bank's financial activities in the precious metals trade and gold mining industries, while the DMCC business advisory committee presented a detailed analysis of Dubai's gold trade, outlining possible business opportunities in the Emirate.
Currently engaged in an international marketing campaign to promote the purpose-built facilities and the other elements of this pioneering project, DMCC's main aim is to facilitate introductions, support interaction, and to build strategic partnerships for those wishing to establish businesses in Dubai. — (menareport.com)
© 2003 Mena Report (www.menareport.com)
