DMCC initiative provides high-quality global diamond certification services through new technologies
Dubai Government-supported diamond lab offers additional valued-added services to regional and international diamond trade
Fully operational in Dubai, Antwerp and Mumbai
Dubai, November 19, 2007: International Diamond Laboratories (IDL), an initiative of the Dubai Multi Commodities Centre (DMCC), announced today the official launch of its operations in Dubai. IDL provides high-quality diamond certification services from its headquarters in the UAE and at branch offices in Antwerp, Belgium, and Mumbai, India. This Dubai Government-backed initiative is a direct result of the Diamond Master Plan that DMCC adopted earlier this year to further develop services for the diamond trade.
Employing proprietary technology and with a focus on research and development, IDL is transforming the traditional art of diamond grading into a science, ensuring the highest possible level grading standards along with the greatest level of consumer confidence. IDL's services are additionally customised to best meet the needs of its clients in the region. The company is the only service provider worldwide to issue not only English- but also Arabic-language diamond certificates.
"IDL is the only government-supported diamond laboratory with truly international reach and the first of its kind in the Middle East," said Ahmed bin Sulayem, Executive Chairman, DMCC. "Because the diamond trade thrives on confidence - and because the business of IDL is ensuring that such confidence is well placed - we are certain that they will enjoy great success here in the region."
He added: "Importantly, IDL is one of the increasing number of companies headquartered in Dubai that is focused on R&D. Investing in innovation is crucial to the long-term economic development of the region, and we are proud to partner with IDL in encouraging such activity."
Peter Meeus, Chief Executive Officer, IDL, and Executive Director for Diamonds, DMCC, says that the launch of IDL's operations in Dubai will benefit not just clients here but the regional trade as a whole. "Headquartered in Dubai, IDL is able to service the regional market in a fast and efficient way with products that respond to the local business needs. We trust jewelers throughout the region will find IDL Certificates a valuable tool to grow their business."
IDL is chaired by Dr. David Rutledge, Chief Executive Officer, DMCC, and administered by a five-member Board of Directors, which includes leading international authorities in the global diamond trade. Board Members include Peter Gross, former Head of the International Diamond & Jewelry Group of ABN-AMRO, the world's largest financing institution to the diamond sector; and Ian White, former Sales Director of Diamond Trading Company, the marketing arm of De Beers.
International Diamond Laboratories, which is currently located at the Jewellery and Gemplex, will also operate offices at DMCC's landmark Almas Tower, the 65-floor purpose-built tower currently being constructed to serve the regional diamond trade.
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About Dubai Multi Commodities Centre:
Dubai Multi Commodities Centre (DMCC) was created in 2002 as a strategic initiative of the Dubai Government to establish a commodity marketplace in Dubai. Rated 'A' by Standard & Poor's, it provides the market infrastructure that brings together a wide range of commodities activities, and is committed to serve the needs of participants in the gold, diamonds and commodities markets. Resident companies of DMCC are offered highly attractive benefits under a free zone status, including a 50-year guaranteed tax holiday, 100 per cent business ownership, full ownership of business premises, and a secure regulated environment.
About International Diamond Laboratories:
International Diamond Laboratories (IDL), an initiative of the Dubai Multi Commodities Centre (DMCC), is a global service provider for high-quality diamond certificates. Headquartered in Dubai, IDL has branches in Antwerp and Mumbai. By offering cutting-edge technology solutions and cost-effective certification services, IDL aims to compete on par with the leading companies in the sector globally. IDL employs proprietary technology to attain the highest possible grading standards in the industry.
For further information, please contact:
Nicholas Nesson / Sudha Hemmad
ASDA'A Public Relations
Exclusive Affiliate of Edelman, Middle East & North Africa
Dubai, UAE
Tel: 971-4-3355969
Fax: 971-4-3356080
Email: n.nesson@asdaa.com / s.hemmad@asdaa.com
© Press Release 2007
