Ahmed Bin Sulayem to Take Over as Chairman Of Dubai Diamond Exchange, DMCC Says

Executive Chairman of the Dubai Multi Commodities Centre (DMCC), Ahmed Bin Sulayem, a well-known figure in the global diamond trade, is to take over as Chairman of the Dubai Diamond Exchange (DDE) after Peter Meeus steps down on January 31, the DMCC confirmed.

Peter Meeus will become Honorary Chairman.

Bin Sulayem said in a statement that he aims to further strengthen Dubai’s role in the global diamond marketplace.

In a statement, from the DMCC, Bin Sulayem "began putting in place the infrastructure necessary to create an international marketplace for diamonds in Dubai 12 years ago. Since then, the Dubai diamond trade, led by the Dubai Diamond Exchange, has grown significantly and made the Emirate one of the leading rough and polished diamond trading hubs globally. The value of diamonds handled through Dubai has grown from $3.5 billion in 2003 to over $26 billion in 2016," the DMCC said.

Bin Sulayem said: “The opportunities and challenges for the Dubai Diamond Exchange are of a different nature going forward. In the past 12 years, we built the foundation of a solid exchange, attracting over 1,000 members operating out of the Almas Tower. Not only do we want to consolidate this position, but it is also our ambition to grow further and make Dubai a unique and interconnected hub with the rest of the world. Our proximity to Africa as well as the unique logistical infrastructure which Emirates Airlines provides to hundreds of destinations world-wide is crucial in the development of Dubai as a leading diamond centre.”

Peter Meeus commented: “I have been extremely privileged to work in such a dynamic environment as Dubai for the last 12 years. With the help of the Dubai government, we have been able to establish a unique facility which today is one of the top three trading centers of diamonds in the world. This has been an extraordinary experience with many challenges, especially when the financial crisis hit us in 2008, but Dubai has shown its resilience and flexibility to come through even from the worst possible situations. I am convinced that the Dubai Diamond Exchange has a great future ahead and I’m proud to have been able to participate in its growth since its inception in 2004.”