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Press Release: Dubai Diamond Conference to Focus on Finance

Apr 15, 2015 10:05 AM   By DMCC
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Press Release: The second Dubai Diamond Conference, being held April 21 and 22, will highlight one of the most pressing issues affecting the global gemstone trade: diamond finance. The subject is the focus of a special panel, among five to be held during the two-day gathering at the Dubai Diamond Exchange (DDE), which will bring together leading diamond and jewelry industry figures from across the globe.

Financing is an issue of growing importance to the diamond trade worldwide as banks from India, Dubai and elsewhere move into the market following the departure of some traditional European institutions. National Bank of Fujairah’s recent decision to move its diamond finance office to Almas Tower in the Dubai Multi Commodities Centre (DMCC) is an indication of the trend gaining momentum.

Hundreds of participants are expected at the Dubai Diamond Conference, to be held at Almas Tower, the Middle East’s tallest commercial building and home to over 1,000 diamond, precious metals, precious stones and jewelry companies.

The diamond finance panel will be moderated by Peter Meeus, the chairman of Dubai Diamond Exchange, and Pierre De Bosscher, the former CEO of Antwerp Diamond Bank.

Panel members will include Davy Blommaert, the head of diamonds and precious metals at National Bank of Fujairah;  Rajiv Jain, the regional head of diamond and jewelry clients at ABN Amro;  George Abraham, the general manager of strategic growth sectors of Emirates NBD; Kishore Lall, the global head of diamonds and jewelry for Standard Chartered Bank;  Santosh Nair, the vice president of large corporate accounts at Mashreq Bank;  Jim Konjuhi, the business development manager of Brinks Global Services UAE, and  Russell Mehta, the managing director of Rosy Blue India.

Meeus, who is the organizer of the conference, said, “Liquidity has become an important element in the future of the trade. Diamond financing has recently gone through some rough times. Players that dominated for several decades have disappeared; the influence of others has diminished. A huge number of Indian banks have entered‎ the market in the last 10 years. It is encouraging to see that new local Dubai based banks are now engaging with the industry. We hope with the diamond financing panel to open the debate for further involvement of more local banks as well as for new methods and ideas to anchor solid and well financed diamond companies in Dubai's financial hub.”

Bosscher said, “I think there is a unique momentum for local banks in Dubai to start financing the diamond industry. The withdrawal of Antwerp Diamond Bank and the lesser appetite from other major European  financiers will not only incite the business to move East but also create a great opportunity for local banks to build up an important and sound credit portfolio of global players in the industry.”

The other three panels at the conference will focus on: Africa First, Ethical Trade, and Retail in Difficult Times.

Ahmed Bin Sulayem, the executive chairman of the DMCC, said, “I am delighted that the second Dubai Diamond Conference has an agenda that is very relevant for the future of the diamond industry and a strong line-up of speakers. I look forward to new insights and new progressive steps being taken for the benefit of the diamond industry.”

To explore information about the conference, please visit:  http://www.diamondconference.ae/.

DMCC - Made For Trade

DMCC is dedicated to enhancing Dubai’s position as the global gateway for commodity trade. The most successful markets create conditions that enable producers, traders and consumers to thrive. DMCC is a Dubai authority committed to developing these ideal conditions for trade and enterprise. DMCC has a strong track record in commodity trade facilitation and we encourage and support business through the platforms we provide. These include our Free Zone, commodity exchanges, legal and regulatory frameworks and our strong real estate offering. As part of our DMCC Free Zone expansion strategy to provide large corporates with a commercial property offering unique to the Dubai marketplace – DMCC is developing the Burj 2020 District with the world’s tallest commercial tower, the Burj 2020, as its centerpiece. www.dmcc.ae Dubai

The Dubai Diamond Exchange is a DMCC platform and a leading diamond center based in the Almas Tower. From buyers to sellers to service providers -- everything the industry require in terms of infrastructure and a marketplace is available under one roof in a secure environment at Almas Tower including: trading, vaulting, boiling, polishing, certification, transport and logistics services and the Kimberley Process Certification Scheme.

Dubai’s strong leadership and vision has enabled the Emirate to quickly transform itself into a key link in the global transport and distribution system. Since its inception in 2002, DMCC has successfully established Dubai as the global gateway for commodities trade by building and enhancing its physical and financial infrastructure, regulatory standards, products and services, including the launch of the DDE and the Dubai Gold and Commodities Exchange (DGCX). This has positioned Dubai as one of the world’s leading diamond centers.

 
Rapaport News is not responsible for, and does not endorse, the content of any third-party press release. This is not a Rapaport Press Release. It has been provided as additional information for our clients.

 

 

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