Transguard signs MoU with Dubai Diamond Exchange

The memorandum was signed by Dr. Abdulla Al Hashimi, Divisional Senior Vice President, Emirates Group Security on behalf of Transguard and by Mr. Ahmed Bin Sulayem, Executive Chairman, Dubai Multi Commodities Centre on behalf of Dubai Diamond Exchange.

Mr. Bin Sulayem said: 'The MOU signing has further strengthened the relationship between Transguard and Dubai Diamond Exchange; as partners we are now able to better serve the industry with even faster and highly secured clearing of diamond shipments, in keeping with Dubai's position as a leading hub for the diamond trade.'

The contract signing was part of an agreement to move the complete operations of the Kimberly Certification process from Business Avenue to Emirates Group Security Headquarters, located in Dubai Airport Free Zone (DAFZA). The procedure of certifying rough diamonds imported and exported from Dubai will soon be routed through the Transguard facility in DAFZA.

Dr. Al Hashimi said: 'This initiative will facilitate the trade, enhance the service standards and will reduce the turnaround time for processing rough diamond shipments. Special care has been taken to ensure that the highest level of security is maintained throughout the entire handling and processing of diamond shipments'.

Transguard is the only authorised security agency to escort all valuable cargo at Dubai International Airport. The new Transguard facility is a one stop valuable cargo handling terminal which facilitates clearing and processing of all valuable cargo being imported, exported or transiting via Dubai International Airport. The state-of the-art terminal is supported by Dnata Operations, Dubai Customs and will now open its doors for the Kimberley Process.

DDE will soon have its headquarters in the Almas Tower, a 64 floor iconic building, dedicated to the international diamond trade. The tower will also facilitate the Kimberley Certification process in addition to the procedure being carried out within Transguard's facility in DAFZA by the DDE. Transguard is the official agent for DDE with respect to logistics and shipping. To support the industry, DDE will make provisions for the set-up of Transguard's operations within the Almas Tower. The date of commencement of operations has not yet been confirmed and shall be announced in due course.