Dubai Jewellery Group plays a significant role in keeping the trade united: Tawhid Abdullah

Tawhid Abdullah, Chairman of the Dubai Jewellery Group, is upbeat about the unity among jewellers in Dubai. He tells The Retail Jeweller that he looks forward to growing the sector with the aid of Private Public Partnerships with the government of Dubai

What are the current talking points within the Dubai Jewellery Group (DJG)?

The most important talking points would be:

• New infrastructure development around the Gold Souk and its impact on growth of the sector

• Compliance and new regulations and how the sector is adapting to them

• How the sector’s growth is accelerated by partnering with various government entities, as Private PublicPartnership is a key priority for the government of Dubai

• Dubai Jewellery Group’s strategy to align with the vision of UAE leaders for the coming years

What kind of effect will India’s ban on sale of gold without the 6-digit HUID mark have on the jewellery hub in Dubai?

It is very early to predict or assess the impact of such a significant move by the Indian Government. Indian tourists and residents are the largest consumers of jewellery in the UAE. Any significant change in their buying habits will have an impact on UAE’s jewellery retailing scenario. However, availability of wide variety of designs, quality assurance, uniformity in pricing, tax-free shopping for tourists and exciting retail campaigns make jewellery buying in Dubai an exceptional experience for tourists and residents alike.

Speaking at The Retail Jeweller Dubai Forum, you gave a clarion call for collaboration among players in the gems and jewellery industry of the UAE. How much of it do you see taking place on the ground?

The jewellery sector in Dubai is much organized, most jewellers collaborate with each other to learn new market trends and grow together. Dubai Jewellery Group plays a significant role in keeping the trade united. You will see a number of common retail promotion campaigns across all retail outlets in Dubai under the group’s umbrella through various seasons. This is unique to Dubai. Jewellers largely adhere to common healthy practices and uniformity in pricing. There is obvious unity among jewellers in Dubai. This helps us in voicing our collective point of view while communicating with the government and other stakeholders.

What is your view of anti-money laundering efforts and compliance to VAT and other rules in the UAE?

The precious metals and jewellery sector has made significant progress with our efforts to combat money laundering and other related financial crimes. Dubai Jewellery Group works closely with the Ministry of Economy and the Executive Office of Anti-Money Laundering and Counter Terrorism Financing to educate and encourage our sector to take all necessary steps that deny criminals the opportunity to launder their illicit money. We encourage jewellers to practice AML governance controls and procedures that meet international standards for compliance.

You have been a votary of using technology to generate sales. Are you satisfied with the digital footprint of the Dubai Jewellery retail industry?

We have a very long way to go when it comes to integration of technology in our businesses. Jewellery is a one of the very traditional businesses, it is far from becoming a fully tech supported trade. In the coming years, there will be significant changes in the way we do business. Technology will redefine everything from sourcing to retailing.

You have led the industry in Dubai with outstanding leadership over the years. What is your vision for it, going forward? What is the agenda before the Dubai Jewellery Group?

Together with my colleagues, we have a vision to align our sector with the vision of UAE leaders for the coming years. Our focus would be achieving highest levels of compliance, creating an environment of learning and innovation and set benchmarks at par with international best practices in terms of service, quality, consumer protection and compliance. We aim to accelerate our members’ growth by enhancing visibility at international trade events and by expanding the trade possibilities provided by FTAs.

Every year, we come up with a robust retail calendar that is carefully crafted to develop and support the retail sector and boost the jewellery shopping experience in Dubai. Moreover, it promotes offers, jewellery brands, and collections available during festive seasons, while reiterating Dubai’s status as the ‘City of Gold’ and ‘Jewellery Destination of the World’.