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Qatar Free Zones Authority announced the launch of the Qatar Diamond Exchange on Sunday in a statement distributed by the Qatar News Agency, positioning the fully integrated platform within Ras Bufontas Free Zone as a new gateway connecting Doha to international diamond markets. The exchange combines trading, membership, vaulting, certification and industry services into a single regulated ecosystem that includes a secure trading floor, private negotiation suites and an institutional-grade vault equipped with biometric access controls. It also features 24/7 on-site security and surveillance along with integrated customs and certification facilities to provide members with a seamless operating environment.
In the announcement the authority detailed how the platform builds on Qatar’s participation in the Kimberley Process Certification Scheme since 2021, when the country became a full participant following necessary approvals from member states. Law No. 15 of 2025 subsequently designated the authority as the state’s competent authority and restricted rough diamond entry and exit solely to the free zones. The framework supports efforts to eliminate conflict diamonds while enabling legitimate trade across the value chain including storage, auctions, tenders and support services.
HE Sheikh Mohammed Bin Hamad Bin Faisal Al-Thani, who serves as chief executive of the authority and chairman of the exchange, stated in the announcement, “The Qatar Diamond Exchange represents an important step in Qatar’s efforts to further diversify its economy and strengthen its position as a trusted participant in global diamond trade. Building on Qatar’s participation in the Kimberley Process since 2021, we have established the regulatory and institutional foundations needed to support the growth of a new strategic sector for the State. Through QDE, we are bringing together the full diamond and precious stones value chain within a single regulated ecosystem spanning trading, storage, vaulting, auctions and tenders, and industry support services.”
Membership in the exchange is open to companies engaged in trading, manufacturing, cutting and polishing diamonds as well as affiliate service providers and industry bodies according to the authority’s statement. Members receive trading licences, on-site assortment and independent valuation services, vault access and specialist insurance within a free zone environment that permits 100 percent foreign ownership and zero percent corporate tax for qualifying entities. A curated calendar of rough and polished tenders will link producers primarily from Africa and Asia with buyers in Europe and the Gulf region.
The General Secretariat of the Council of Ministers outlines in its documentation of Qatar National Vision 2030 that the strategy aims for sustainable economic prosperity through responsible resource management, economic diversification and expanded private sector growth with a focus on non-hydrocarbon sectors. Fortune Business Insights data shows the global diamond market stood at $102.06 billion in 2025 and is projected to expand to $106.76 billion in 2026 at a compound annual growth rate of 4.6 percent. Regional analyses indicate the United Arab Emirates has emerged as the world’s largest diamond trading hub with approximately 120 million carats traded in the first half of 2024, accounting for 5.5 percent of its non-oil trade.
The World Diamond Council announced in May 2026 that the Qatar Diamond Exchange had been unanimously elected as a new member of the organisation, reinforcing its standing in international industry governance. This development follows the inaugural International Diamond and Gem Conference hosted in Doha in January 2025, which drew participants including an Israeli delegation and focused on innovative strategies for the sector. The exchange’s regulatory alignment with the Kimberley Process and its free zone incentives are expected to attract participants seeking secure and efficient access to Gulf and broader Middle East markets.
