Industry finance set to be at center of Dubai Diamond Conference

Diamond financing will take center stage at the Dubai Diamond Conference 2013, the Dubai Multi Commodities Centre (DMCC) said.

The conference takes place March 18-19 at the Almas Tower, home to the Dubai Diamond Exchange, one of the world's leading diamond trading platforms.

Dubai Diamond Exchange Chairman Peter Meeus says: "In 2011, the Dubai diamond trade recorded an annual turnover of over US$39 billion. One of the most crucial contributing factors to this growth was the support demonstrated by international financial institutions, many of which are based outside the UAE. The global Dubai Diamond Conference will certainly attract more UAE-based banks into financing a business that has become a significant element of Dubai's foreign trade".

The second day of DDC 2013 will see a panel of international bankers debate the topic of Banking in the times of the New Silk Route.

Tacy Ltd President and Diamond Intelligence Briefs publisher Chaim Even Zohar will moderate the discussion between some of the world's leading diamond bankers, including: Dirk Dullaert, Senior Vice President, Head of International Relations, Antwerp Diamond Bank; Erik Jens, CEO, ABN Amro Diamond and Jewellery Division; and Kishore Lall, Managing Director, Global Head, Diamond and Jewellery/Wholesale Banking - Origination and Client Coverage, Standard Chartered Bank.

"The diamond industry weathered the storm of the global financial crisis without serious debt defaults and diamond prices are now reaching historical heights," says Even-Zohar. "This is a testimony to the financial acumen, resilience and soundness of the business. However, although the fundamentals of the industry look stronger than ever, the unexpected scarcity of liquidity may hamper its growth. In light of this, the Dubai Diamond Conference will enable bankers and pipeline players to explore how to jointly manage the diamond industry's evolving economic and regulatory environment to secure its continued growth and prosperity," he adds.