DMCC Focuses on Diamond Banking
October 10, 07 by Edahn Golan
Dubai wants to increase the banking presence in its diamond center and is holding discussions with a number of banks involved in the diamond trade. As the Almas Tower is nearing completion, bringing banking and shipping firms into it will fill some missing services needed to run a diamond operation.
According to Peter Meeus, Executive Director Diamonds, “Access to financing is a crucial requirement of the diamond trade anywhere in the world.” To that end, DMCC recently appointed Jean van der Donckt as Special Advisor Diamond Banking.
“It is imperative that industry-specific banking services and financing be readily available,” van der Donckt said.
Almas ('diamond') Tower is a 65-story building that will serve as the home for the Dubai Diamond Exchange and diamond firms. Space in the building was snapped up in a single day. Companies seeking to buy space in the building today are paying an extra 20 - 40 percent.
