Profile of Promoters
Mr. Mohammed HamoodiHashim is the Chairman & Managing Director and the founder of the Dijllah Gold Group of Companies. He is a graduate civil engineer whose participation in the gold industry began in 1988 when he started a handmade jewelry business followed later in 1997 when he established a bracelet-making unit. From these humble origins Mr. Mohammed has developed Dijllah into one of the fastest growing physical gold trading companies in Dubai with ambitious plans for future growth, a business that has been built on integrity, honesty and trust and the Dijllah name is known for its commitment, professionalism and loyalty.
Ahmed Mohammed Hamoodi Hashim is the oldest son of Mr Mohammed Hamoodi Hashim.
He is a Bachelor of Business Administration from American university of Dubai and a shareholder in the Dijllah Gold Group of Companies. Ahmed has taken an active interest in the family business, even from an early age, and he has developed a deep knowledge of the physical bullion and jewellery industries. He has been responsible for many of the creative and energetic ideas behind the rapid expansion of the company’s gold business and he is responsible for the day-to-day administration of physical activities in the Gold Souk office and refinery.
Company History and Business Development Milestones
Dijllah Jewellery FZCO was established in 2005 with an office based in the Gold House Building located in Deira’s famous gold souk, Dubai with a focus on wholesale jewellery trading. From that time Dijllah began trading with major international suppliers and manufacturers directly. As wholesaler Dijllah quickly earned our customers’ and suppliers’ trust, which the owners consider as our key asset and can proudly claim to have kept that trust intact until today. This has provided Dijllah with a solid foundation for future growth and business development.
In 2011, Dijllah advanced one more step in the gold business by starting a bullion wholesale trading business, raising Dijllah’s profile to a new level of prominence in Dubai’s gold market. This proved to be a successful and progressive step in Dijllah’srapid business development andtoday is active in buying and selling different types of pure gold bars, for example 995 kilo bar, 9999 kilo bar, TT bars etc. Dijllah is also an active buyer of scrap gold from customers for exchange into pure gold kg bars or for settlement through bank transfers; Dijllah also providesindependent assay or purity test services for its’ scrap gold clients.
In early 2012, Dijllah upgraded itslocation within the prestigious Gold Centre Building to the much sought after Mezzanine Floor to provide more spacious and comfortable office space for its staff and easier accessibility for customers and suppliers from the gold community and today Dijllah is proud to be considered as one of the leading bullion dealers in Dubai’s jewellery and bullion market.
In the fourth quarter of 2013 Dijllah opened a new gold refinery in Sharjah Airport Free zone (SAIF) with the name Dijllah Gold Refinery. Dijllah had been actively purchasing scrap gold bars during the bull markets of2011, 2012 and 2013 from its clients as exchange against pure gold or cash settlement, supplying this secondary material scrap to the regional gold refineries in return for locally produced pure gold bars. Howeverthere were often delays in the settlement of these transactions, which impacted both the profitability of the business and Dijllah’s reputation as providing a fast and efficient service to its clients, and so the management decided to build its own refining capacity. This development has proved to be both successful and a major milestone in the evolution of the company, helping to establish the Dijllah brand as a major force in Dubai’s gold souk. From the initial stages until now Dijllah’s gold bars have been accepted by the local gold merchants and have receiveda very good response from the market as a whole.
Dijllah Gold Refinery is certified with STANDARDISO9001:2008 in SCOPEOFSUPPLYgold&silverrefining by ASCB (E) (certificate number: A1S-AE130404Q-01 dated 08th April, 2014) and is in the process of applying for accreditation by the Dubai Multi Commodity Centre as a Market Deliverable Brand (MDB) refinery.
Also In 2013, in order to provide a highly professional pricing and hedgingservice to its clients exposed tothe volatility of international precious metals prices, Dijllah opened a new trading office in Al Mas Tower in the DMCC Free zone providing our clients with the ability to manage their market risks at all times on a 24/7 basis.
In order to ensure that Dijllah complies with all international rules and regulations with respect to supply chain, in April 2015 it signed an agreement with Mineral Care, a company that is accredited by the DMCC and which specializes in providing world class digital KYC, Compliance and Supply Chains solutions for the precious metals and diamond industries.
In June 2015 Dijllah becoming a self-clearing member the Dubai Gold & Commodity Exchange, an initiative that will enable Dijllah to provide enhanced hedging and risk management solutions to its physical gold and silver clients. The DGCX is majority owned by Dubai Multi Commodities Centre (DMCC), a strategic initiative of the Government of Dubai, with a mandate to enhance commodity trade flows by providing the appropriate physical, market, financial infrastructure and services required, and it is regulated by the Securities & Commodities Authority (SCA).
On the demand side we are investing in new technology, machinery and personnel to improve the quality of our bars to world-class standards and extend the range of physical gold and silver products offered to our clients. We are also exploring new markets to which we can sell our bullion bars with a focus on the wider Indian-sub Continent, the GCC and the rest of Asia.
Our Products & Services
• OTC Hedging & Price Risk Management
• Wholesale Trading in Physical Bullion and Jewellery
• Global Physical Deliveries
• Gold Location Swaps and Transfers
• Refining, Assaying& Third Party Purity Testing
• Bars, Coins, Grains, Sheets, Scrap, Dore, & Wire
• Foreign Currency Pricing Models
Our Clients, Counterparties& Suppliers
• Banks and Financial Institutions
• Bullion Wholesale Traders
• Jewellery Wholesalers & Manufacturers
• Mining Companies
• Government Agencies
Statement of Corporate Philosophy
Ο It is the policy of the Company to prohibit and actively prevent money laundering and any activity that facilitates money laundering or the funding of terrorism or criminal activities. All employees of the company are required to commit to maintaining the highest possible ethical standards of business conduct and adhere strictly to the Company’s policies and procedures.
Ο Customer orientation, security, profitability, growth, competitiveness, hard work and attention to detail are the pillars of economic success and are the basis on which we run the company.
Ο We are committed to the highest ethical standards in the formulation and pursuit of our objectives – “our word is our bond”. The company does not engage in transactions that are doubtful and/or lack transparency.
Ο The integrity and commitment of each staff member ensures that the company provides fast, efficient, customer friendly and discreet services.
Ο DIJLLAH motivates staff members to exceptional levels of achievement through teamwork, creating an enjoyable working environment, and rewarding staff fairly according to their performance.
Ο DIJJLAH believes in equal opportunity for all staff members, irrespective of gender or race,and in the principal of providing a ‘fair day’s pay for a fair day’s work”. We are an attractive, caring and fair-minded employer.
Ο DIJLLAH operates rigorously according to customers’ requirements and market potential, always bearing in mind the need to observe all legal and regulatory rules and regulations.
Ο The basic criteria is for DIJLLAH to produce maximum benefit for its’ customers by offering a competitive range of tailor made physical precious metals products and services while at the same time optimizing the returns to all stakeholders in DIJLLAH.
Ο This is achieved by ensuring that DIJLLAH is known by its’ clients for:
• Efficiency, speed and friendliness
• Error free customer service; any complaints must be settled quickly, fairly and amicably
• High levels of security and discretion
• Exceptionally personal style of customer contact and reaction to the customers’needs
Ο DIJLLAH is committed to observing the DMCC guidelines on Responsible Supply Chain for precious metals, which are based on OECD rules and set out a clear framework or code of conduct for everyone to follow so that we can ensure that we run our business not only in a profitable fashion but also according to the highest ethical standards. They sums up exactly what we all know – there is no substitute to really knowing your customers, and your customers’ customers. Strong KYCC and a complete understanding of our clients’ business are crucial in ensuring that we comply with the DMCC and all other international rules on responsible supply chain management.