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The memorandum creates a framework for enhanced ties between the two bourses that focuses on responsible trade promotion, commercial opportunity facilitation and knowledge sharing among members. It will enable joint discussions on challenges affecting the diamond industry while helping both entities adapt to a rapidly changing global marketplace. The agreement underscores a wider commitment among World Federation of Diamond Bourses participants to build stronger connections between major trading hubs.
DMCC said the MoU was signed by Ahmed Bin Sulayem, chairman of the Dubai Diamond Exchange, and Charlotte Rose, president of the London Diamond Bourse, marking Rose’s first formal international partnership since assuming her position in June. Bin Sulayem said, “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.” The statement positioned the deal as a step toward greater industry connectivity.
Rose stated in the announcement, “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 highlighted the alignment between the two organizations on governance standards. The comments formed part of the joint release detailing how the pact would benefit traders in both locations.
DMCC figures show the Dubai Diamond Exchange was established in 2004 and is based in Almas Tower at Jumeirah Lakes Towers where it serves more than 1,380 member companies as the only GCC bourse affiliated with the World Federation of Diamond Bourses. More than one billion carats of rough and polished diamonds have been traded through Dubai over the past five years including 179 million carats in 2024. The exchange acts as a key link between diamond producing regions and consumer markets worldwide.
A DMCC assessment placed the value of rough and polished diamond trade in Dubai at $38.3 billion in 2023 with polished diamond trade rising 32 percent year on year and a five-year compound annual growth rate of 11 percent. The emirate has led the world in rough diamond trading since surpassing Belgium in 2021 when volumes exceeded $22.8 billion. These statistics demonstrate the substantial scale that Dubai contributes to the newly formed alliance with the London counterpart.
The London Diamond Bourse operates as the United Kingdom’s only dedicated diamond trading floor in the Hatton Garden district and has maintained its World Federation of Diamond Bourses membership since its founding in the 1940s following the Second World War, according to bourse materials. Its membership has diversified over decades while maintaining a focus on trust and regulatory compliance in transactions. The organization brings established European trading expertise to the partnership with the Dubai exchange.
DMCC’s Dubai Diamond Exchange and London Diamond Bourse signed the MoU to strengthen global diamond trade as part of ongoing efforts to foster a more integrated international network, the organizations said in their joint statement. The collaboration is expected to deliver expanded commercial links and shared best practices for the combined membership base.
