Emirates NBD to double its diamond financing

Emirates NBD, one of the foremost financial institutions in the MENAT (Middle East, North Africa, and Turkey) region, has put plans in place to increase the financing it previously provided to the UAE’s diamond industry. This move will see its diamond financing book double by 2025.

Emirates NBD has entered a partnership agreement with Dubai Multi Commodities Centre (DMCC) on this project to maximize its expertise and experience in setting the course for diamond trade across the globe.

This new partnership will foster Dubai’s economic transformation into the world’s leading diamond trading hub. It will also help the UAE implement its diversification strategy.

It is also in line with Dubai’s five-year plan, which includes improving the emirate’s foreign trade, as it seeks to strengthen its position as a world-renowned business and trading hub.

DMCC will provide strategic advisory services to help promote Emirates NBD’s financial offerings to UAE diamantaires, especially the over 1,000 registrants of its Dubai Diamond Exchange (DDE).