Alfa United Gold Jewelry Company, has its presence in Kuwait for more than 10 years. It started with a small capital amount and through its diligence and perseverance, earned reputed goodwill. Quality is our utmost priority. One of our basic business ethics, being customer centric, becomes our strategy for customer satisfaction and a right approach towards competitive advantage.
Alfa United Gold Jewelry Co. And their valued customers are mutually committed to be responsible and act to attain a conflict free supply chain and to improve trust and collaboration among supply chain partners.
Alfa United Gold Jewelry Co formulated a robust, Anti Money Laundering and Supply Chain policy.
Alfa United Gold Jewelry Co., is bound to comply with the rules and regulations concerning responsible supply chain management. The company adheres to the Ministry of Commerce and Industry Kuwait practical Guidance for market participants in the gold and precious metals on responsible supply chain.
As part of our obligations, Alfa United Gold Jewelry Co is committed to:
1. Neither gain nor be a part of, assist and facilitate any transactions arising from serious abuses such as inhuman and degrading practices, forces and child labor, any forms of human rights violations and all forms of criminal activities.
a. Immediate discontinue dealing with our suppliers where we identify a reasonable risk that their source is from or linked to, any party committing serious abuses as defined above.
2. Not tolerate any of its locally registered suppliers which directly or indirectly support non-state armed groups through the extraction, transport, trade, handling or export of minerals which includes, but is not limited to, procuring mineral from, making payments to or otherwise providing logistical assistance or equipment to, non-state armed groups or their affiliate who: a. Illegally control mine sites or otherwise control transportation routes, points where minerals are traded and upstream actors in the supply chain; and/or
b. Illegally tax or extort money or minerals at points of access to mine sites, along transportation routes or at points where minerals are traded; and/or
c. illegally tax or extort intermediaries, export companies or international traders. Not accept and directly discontinue transactions with upstream suppliers which were identified as high risk due to involvement and or participation in any of the above-mentioned points.
3. Contribute and participate in the promotion of responsible sourcing of precious metals to our suppliers by:
a. Creating a long-term association with suppliers and established strong relationship with our customers.
b. Supporting our suppliers of gold to adhere with the provisions of this policy and encourage them to impact or convey it to its staff and their supply chain.
4. Not to offer, promise, give or demand any bribes and will resist the solicitation of bribes and will resist the solicitation of bribes to conceal or disguise the origin of precious metals to misrepresent taxes, fees and royalties paid to governments for the purposes of extraction, trade, handling transport and export.
5. Play a part and contribute in elimination of money laundering and terrorist financing by creating a robust management system to act in accordance with the standard of Anti-money laundering and combating financing terrorism.
a. To inform and report to be relevant authorities any suspicious individual, entitles and transactions arising upon implementing the provision of this policy.
6. Ensure that effective Due diligence on a risk base approach is carries before starting any transaction and continuous monitoring to existing clients to assess the level of risk and plan to mitigate the risk identified.
7. Create and keep proper and adequate records of all precious metal transactions and activities that demonstrate the due diligence has been strictly followed.
8. Train relevant staff and educate employees through formal education, trainings or seminars and conferences with the provisions of this policy and the responsible sourcing of precious metals.