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Press Release: DMCC to Host Additional Diamond Finance Seminars

Apr 23, 2015 11:39 AM   By DMCC
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Press Release: The Dubai Diamond Exchange, a Dubai Multi Commodities Centre (DMCC) initiative, is planning to hold three seminars on diamond financing this year, underscoring the growing importance of the issue for the global diamond industry.

Finance and liquidity was one of the most hotly debated issues at the Dubai Diamond Conference 2015, which took place April 21 and 22, with more than 150 industry experts joining in the fifth and final panel of the event, focusing on diamond finance.

The panel was comprised of Rajiv Jain, the regional head for ABN Amro's diamond and jewelry clients in the Middle East; Santosh Nair, the unit head of Mashreq UAE's large corporations; Kishore Lall, the global head of diamond and jewelry for Standard Chartered Bank; George Abraham, the general manager of strategy growth sectors for Emirates NBD; Davy Blommaert, the unit head of precious metals and diamonds at National Bank of Fujairah; Jim Konjuhim, business development manager of Brinks Global Services, UAE and  Russell Mehta, the managing director of Rosy Blue India.

As the diamond industry has shifted from West to East, helping to establish Dubai as one of the top three diamond hubs in the world with more than $30 billion of diamonds traded a year, the finance industry has followed suit to provide the liquidity necessary for the trade to operate efficiently.

Gautam Sashittal, the CEO of the DMCC, said, “The diamond trade in Dubai is ably supported by a growing number of local and international banks bringing about new methods of financing the diamond industry. This will ensure that Dubai's pre-eminence as one of the leading global centers for the diamond industry continues to grow.”

The conference panel debated the most important topics to the diamond finance industry including transparency and the ways in which banks are granted access to company data.

Peter Meeus, the chairman of the Dubai Diamond Exchange and panel moderator, added, “Financing is the single most important issue for the diamond sector at present.”

Further details of the upcoming seminars will be released in due course.

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 government 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.
The Dubai Diamond Exchange (DDE) 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: DDE, 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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Tags: DMCC, Dubai, event, seminar
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