The Dubai Diamond Exchange (DDE), a DMCC platform, played host to the De Beers Bankers Executive Briefing aimed to raise awareness of diamond financing with over 60 delegates representing leading UAE based banks and financial institutions.
The executive briefing was led by Howard Davies, head of commercial development for De Beers, who noted: “The demand for diamonds will continue to grow in real value terms driven by the effect of the U.S. economic recovery and the continued growth of emerging markets, in particular China. In addition, the digital space is increasingly becoming an essential channel for both research and sales of diamond jewelry to consumers. Now is the time for banks and financial institutions to further invest in the appropriate financing structures that will enable further growth”.
“Today marked an important milestone for the diamond industry in Dubai as it brought global industry leaders and the financial institutions of the future together to address requirements for funding but also to highlight how traders and financiers can further collaborate to ensure continuous growth,” Sonu Parikh, CEO, Diarough, added.
“With the recent shifts in the set of key players that have traditionally financed the diamond industry, we see an opportunity for local and regional banks and financial institutions to provide liquidity to this industry. We therefore very much welcome that De Beers are providing guidance to local and regional institutions. ”, said Franco Bosoni, Director – Commodity Services, DMCC.
Dubai Diamond Exchange (DDE) is a DMCC platform and a leading diamond centre. Everything the industry requires in terms of infrastructure and a marketplace is available under one roof at DDE.
Theodor Lisovoy, Rough&Polished, Moscow
