RIYADH: Qatar has launched a diamond exchange in a bid to position Doha as a regional hub for the global trade in rough and polished diamonds.
The Qatar Diamond Exchange, launched by the Qatar Free Zones Authority, will operate from the Ras Bufontas Free Zone and offer trading, vaulting, certification, membership and other industry services through a single regulated platform.
The exchange aims to establish a new gateway for global diamond trade in the country, connecting Doha to international diamond markets and supporting economic diversification under the National Vision 2030 initiative, according to Qatar News Agency.
Sheikh Mohammed Bin Hamad Bin Faisal Al-Thani, QFZ’s CEO and QDE’s chairman, said: “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,”
He added: “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.”
