March 2004 saw the launch of the Dubai Diamond Exchang
The Dubai Diamond Exchange was officially launched during a 2 day annual meeting of the World Diamond Council.
The Dubai Diamond Exchange is a division of the Dubai Metals and Commodities Center.
Diamond exchanges do not work like stock markets. A diamond exchanges provides a secure working environment. They also operate a strict membership system. DMCC CEO Tawfique Abdullah says all prospective members will be subject to due diligence testing and have to go to a committee for final approval.
Ernest Blom, Vice-President of the World Federation of Diamond Bourses was present at a press conference in Dubai. "We are confident that Dubai has every chance of being in the top rank because of backing of the government and liberal business environment in Dubai." Mr. Blom added, "Membership provides access to all the exchanges around the world and is a jealously guarded privilege, 'There are also arbitration rules for disputes."
In an article on www.ameinfo.com about the subject, it was noted that his was also a" real estate opportunity" for Dubai, and the Almas Tower - Almas is Arabic for diamond - is to be built as a part of the DMCC's 300-hectare development site opposite the Dubai Marina on the Sheikh Zayed Road. A "temporary home" for the DDE would be in the Business Avenue near to the Dubai International Airport.
The New York Diamond Dealers Club k and the Diamond Manufacturers & Importers Association of America hosted the 31st World Diamond Congress, at New York City's Waldorf Astoria Hotel in 2004. Related functions were held in Manhattan, including the headquarters of the United Nations.
|WORLD DIAMOND CONGRESS - 2004|
• The final session of the World Diamond Congress was held in the Delegates' Lounge at the United Nations with a gala dinner attended by the ambassadors of all the countries involved in the diamond industry.
* Two delegations at the WFDB event took significant steps in joining the organization. The Shanghai Diamond Exchange and the Dubai Diamond Exchange applied for WFDB membership.
The final session of the World Diamond Congress will be held in the Delegates' Lounge at the United Nations. It will include a gala dinner attended by the ambassadors of all the countries involved in the diamond industry.
Martin Hochbaum, DDC Managing Director Tel: +1- 212 - 869-9777 • firstname.lastname@example.org.
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Revised: 30 Oct 01 1915 GMT