Ahmed bin Sulayem named chairman of Dubai Diamond Exchange

Executive chairman of Dubai Multi Commodities Centre, Ahmed bin Sulayem, has been confirmed as the new chairman of Dubai Diamond Exchange.

Bin Sulayem will take up the role from January 31 next year, replacing outgoing chairman Peter Meeus, said Dubai Media Office, and the DMCC chief will aim to elevate Dubai’s role as the global marketplace for diamond trade, having started to build the infrastructure for such a marketplace more than 12 years ago.

The value of diamonds handled through Dubai has grown from $3.5bn in 2003 to more than $26bn in 2016.

Bin Sulayem said: “The opportunities and challenges for the Dubai Diamond Exchange are of a different nature going forward.

“In the past 12 years, we built the foundation of a solid exchange, attracting over 1,000 members operating out of the Almas Tower. Not only do we want to consolidate this position, but it is also our ambition to grow further and make Dubai a unique and interconnected hub with the rest of the world.

“Our proximity to Africa as well as the unique logistical infrastructure which Emirates Airlines provides to hundreds of destinations world-wide is crucial in the development of Dubai as a leading diamond centre.”