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DMCC announced on July 8, 2026, that its Dubai Diamond Exchange had signed a memorandum of understanding with the London Diamond Bourse to bolster cooperation in the global diamond trade. The pact was inked by Ahmed Bin Sulayem, chairman of the Dubai Diamond Exchange, and Charlotte Rose, who took over as president of the London Diamond Bourse in June, marking her first such international agreement in the role. According to the DMCC statement, the MoU creates a platform for enhanced member engagement and joint responses to industry developments in an interconnected marketplace.
The agreement prioritises responsible trade practices while opening avenues for commercial deals, knowledge sharing and closer bonds among participants from both bourses. It further envisions regular exchanges on matters impacting the worldwide diamond sector as trading hubs seek tighter integration under the umbrella of the World Federation of Diamond Bourses. This initiative aligns with broader efforts to cultivate a resilient network of trusted centres capable of navigating market evolution.
Bin Sulayem said in the announcement, “The Dubai Diamond Exchange was built on the belief that connecting markets creates opportunity. This partnership with the London Diamond Bourse reflects that philosophy, bringing together two major diamond trading centres to strengthen collaboration and expand opportunities for our respective members. The future of our industry will not be built by individual markets acting alone. By working more closely together, we can establish a stronger network of trusted trading centres, sharing expertise, upholding recognised standards, and reinforcing confidence and growth across the global diamond trade.”
Rose commented, “There is no better partner for the London Diamond Bourse to begin this new chapter with than the Dubai Diamond Exchange. As a fellow member of the World Federation of Diamond Bourses, the DDE shares our commitment to trusted, well-governed trading, and this agreement opens up real opportunities for members on both sides. I’m looking forward to seeing where this partnership takes us.” Her remarks underscore the mutual recognition of governance standards between the two entities.
The Dubai Diamond Exchange, set up in 2004, stands as the only such bourse in the Gulf Cooperation Council linked to the World Federation of Diamond Bourses, the DMCC statement noted. Dubai has since emerged as the world’s largest hub for rough diamond trading, having overtaken traditional centres like Belgium. The free zone authority hosts more than 1,380 diamond trading firms within its ecosystem.
DMCC figures show the value of rough and polished diamond trade in Dubai reached 38.3 billion dollars in 2023, accompanied by a 32 percent year-on-year rise in polished diamond transactions. The sector posted an 11 percent compound annual growth rate across the preceding five years. More than one billion carats of diamonds have passed through Dubai over that half-decade span.
