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    Press Release

    Dubai Gold And Jewellery Group Appoints Board Of Directors
    Anan Fakhreddin elected as Chairman of Board of Directors. Sunny Chittilappilly, Paresh Dhanak and Babu John elected as Vice Chairman, Treasurer and Secretary respectively. Positions appointed for 2010-2012

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    Dubai , UAE - July 20, 2010

    Following a successful meeting of its Board of Directors, the Dubai Gold and Jewellery Group today announced the members of its managing committee for the year 2010-2012. The election of the new members follows the Group’s 13th Annual General Meeting, held last month.

    Anan Fakhreddin was elected as the new Chairman of the Board of Directors. Fakhreddin, who also serves as Chief Executive of Damas, will head the Group’s executive committee, which comprises five other members. The other newly elected committee members include Sunny Chittilappilly, who takes over as Vice Chairman, Babu John, who assumes responsibilities as Secretary, and Paresh Dhanak, who has been appointed Treasurer. The Board also elected Chetan Vaya as Joint Treasurer and Mehran Mahallati as Joint Secretary of the committee. All positions have been appointed for the 2 year period starting July 18, 2010.

    “Worldwide, as a consequence of the global economic slowdown, the gold and jewellery industry has been witnessing a challenging period over the past year,” said Fakhreddin. “However, despite these challenges, Dubai still continues to be a global hub for gold and jewellery trade, especially in the retail segment. The Dubai Gold and Jewellery Group has been a major driver of this sustained accomplishment for over a decade.

    “While continuing the good work set forth by the previous board, the new board will further sharpen its focus on developmental activities in light of new market realities. Training and development for trade personnel will also be high on the agenda with a view to further enhancing customer service standards. As in the previous years, our aim is to facilitate knowledge sharing within the industry and among members, with the end goal of ensuring that Dubai continues to be the leading destination for jewellery, both in terms of quality and prices,” Fakhreddin said.

    “On behalf of the new Board of Directors, I would like to thank all members of the Jewellery fraternity for their support and faith in our abilities as a team,” he added.

    Formed with the support of the Dubai Department of Economic Development in 1996, the Dubai Gold and Jewellery Group is a trade association with nearly 700 members representing all sectors of the trade, including bullion trade, manufacturing, wholesale and retail. The Group has since evolved into a leading trade body committed to developing and sustaining Dubai’s status as the “City of Gold.”


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