DMCC fosters growth of diamond banking in Dubai

DMCC will provide advisory and counselling services to facilitate local bankers to set up and promote diamond banking activities in Dubai. DMCC also announced the appointment of Jean van der Donckt as Special Advisor - Diamond Banking, DMCC, as part of this initiative.

Peter Meeus, Executive Director - Diamonds, DMCC, said,

"Access to financing is a crucial requirement of the diamond trade anywhere in the world. DMCC has thus paid significant attention to this in its Master plan for Dubai's diamond trade.

After focusing on the development of physical infrastructure, DMCC is now looking to enhance ancillary services, including banking and finance. A range of major Dubai-based bankers have already demonstrated great interest, and requested the DMCC to provide them with logistical support. In this regard, we are pleased to announce the appointment of Jean van der Donckt as Special Advisor - Diamond Banking, DMCC, who will be overseeing this on behalf of DMCC."

Jean van der Donckt, the newly appointed Special Advisor - Diamond Banking, DMCC, said, "Today, Dubai is recognised as an important centre of the global diamond trade. As a fast-emerging hub for the global diamond trade, it is imperative that industry-specific banking services and financing be readily available to the thriving diamond community in Dubai. I look forward to working closely with Dubai's banking community to further grow the physical trade in diamonds both locally and internationally."

Van der Donckt has more than 25 years of experience in international diamond banking. For most of his career, he has been associated with Antwerp Diamond Bank, where he served as Senior Vice President until 2006. He has extensive experience in the major diamond markets, including Antwerp, Mumbai, Hong Kong and New York. In his new role at DMCC, he will focus on fostering growth in diamond banking activities in Dubai.