Dubai, October 12, 2009: The Dubai Diamond Exchange (DDE),Dubai Diamond Exchange (DDE), a subsidiary of Dubai Multi Commodities Centre (DMCC)Dubai Multi Commodities Centre (DMCC), announced today the appointment of a new Board of Directors composed of high-profile members of the international, regional and local diamond and jewellery industry. The primary role of the DDEDDE Board of Directors is to attract new business to Dubai and to elevate further the emirate's status as a leading participant in the international wholesale diamond trade.

"Nearly five years since the first meeting of the Board of Directors of the Dubai Diamond ExchangeDubai Diamond Exchange, the DDEDDE has made enormous strides in contributing to the city's role as a major distribution conduit for leading manufacturing markets across the globe," said Ahmed Bin Sulayem, Executive Chairman, DMCCDMCC. "Under the leadership of the new Board of Directors and from its new permanent home at the Almas Tower in Jumeirah Lakes TowersJumeirah Lakes Towers, the DDEDDE will continue to build upon its status as one of the world's top five rough diamond distributors and as a vital participant in the wider diamond trade."

Newly appointed members of the DDEDDE Board of Directors include leading international diamond wholesalers Dilip Mehta, CEO of Rosy Blue NV, who has been accredited with transforming Rosy Blue from a manufacturing and trading company to a global marketer of a broad range of products and services; Pankaj Mehta, CEO of Dimexon Eurostar, whose visionary leadership has built the company into a global diamond business with operations in over 11 countries across five continents and employing over 11,000 professionals; and Mahendra Parikh, Chairman of Diarough NV, who has built the company into one of the largest diamond distributors in the world.

Regional players include Sheikh Jamil Farsi, Chairman of Saudi-based Farsi Jewellery, the Dean of Jewellers of the city of Jeddah and the Chairman of the Gold and Jewellery Committee in the Chamber of Commerce in Jeddah; Nabeel al Zain, President of Bahrain-based Al Zain Jewellery, one of the oldest jewellery houses in Bahrain that introduced elegant 18-carat gold jewellery from Italy, revolutionising the traditional trading pattern of 21 and 24-carat in the region.

Representatives of the diamond trade in Dubai who have been confirmed as members of the Board of Directors of the DDEDDE include Tamjid Abdullah, Deputy Managing Director, Damas Jewellery LLC, which has grown from a UAE-based company to a global fashion and jewellery network over the past century; and Amit Dhamani, Managing Director, Dhamani Jewels, an authoritative figure in the regional and global jewellery retail industry. Dhamani Jewels is also the distributor of Dubai Cut, the 99 faceted diamond inspired by the 99 holy names of ALLAH, trademarked by DMCCDMCC,

Leading international figures in the diamond business who have also joined the DDEDDE Board include Roberto Coin, President of Roberto Coin S.p.a, who has established Roberto Coin among the best known jewellery brands in the United States; and Arnaud Flambeau, CEO of Scintilla-Monaco, the leading jewellery brand based in Monte Carlo, Monaco.

"The diverse international composition of the DDEDDE's Board of Directors is a clear reflection of our truly global status in the diamond trade," said Peter Meeus, Chairman of the Board of Directors of the DDEDDE. "It is an enormous privilege to welcome them all to the DDEDDE, which is now firmly established as the platform for the emirate's diamond business. Together, we will examine and address key issues facing the trade during this period of unprecedented volatility, and serve as an interface between DDEDDE members and government."

Established in 2004, DDEDDE is a member of the World Federation of Diamond Bourses (WFDB) and a keen supporter of the WFDB in all its initiatives. As the UAE is a signatory to the Kimberly Process Certification Scheme, which ensures that all rough diamonds imported to and exported from the country have been mined in a legitimate matter, the Dubai Diamond ExchangeDubai Diamond Exchange fully complies with the Kimberly Process.

-Ends-

Dubai Diamond Exchange
The Dubai Diamond ExchangeDubai Diamond Exchange (DDEDDE) is a subsidiary of the Precious Gems Division at Dubai Multi & Commodities Centre, an initiative of the Government of Dubai to set up a commodities market place in Dubai. A member of the World Federation of Diamond Bourses, DDEDDE enables members access to international member exchanges. Its members represent global players from New York, Antwerp, South Africa, Mumbai, the UAE and other international diamond centres. DDEDDE capitalises on the rapidly growing trade flow of diamonds through the region, promoting regional trade and global accessibility for local, regional and international diamond marketing participants.

Visit www.dde.ae

For further information, please contact:
Gunjan Chaurasia / Sudha Hemmad / Nicholas Nesson
ASDA'A Burson-Marsteller
Dubai, UAE
Tel: 971-4-3355969 / Fax: 971-4-3356080
Email: g.chaurasia@asdaa.com / s.hemmad@asdaa.com / n.nesson@asdaa.com

© Press Release 2009

 

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