Qatar launches regulated diamond exchange to support National Vision 2030

Qatar has launched a diamond exchange as it seeks to establish Doha as a regional hub for the global trade of rough and polished diamonds.

The Qatar Diamond Exchange (QDE), launched by the Qatar Free Zones Authority (QFZ), will operate from the Ras Bufontas Free Zone. It will provide trading, vaulting, certification, membership, and other industry services through a single regulated platform.

The exchange is designed to serve as a gateway for the international diamond trade, connecting Doha with global markets while supporting economic diversification under Qatar National Vision 2030, according to the Qatar News Agency.

Sheikh Mohammed Bin Hamad Bin Faisal Al-Thani, CEO of QFZ and chairman of QDE, said the exchange would support Qatar’s efforts to diversify its economy and strengthen its position in the global diamond trade.

The platform brings together trading, storage, vaulting, auctions, tenders, and industry support services within a regulated ecosystem. Qatar has been a member of the Kimberley Process since 2021, which provides a regulatory framework for its rough diamond trade.

QDE features a secure trading floor, private negotiation suites, an institutional-grade vault with biometric access controls, and 24-hour security and surveillance. Customs and certification services will also be available on-site.

Membership is open to diamond traders, manufacturers, cutters, polishers, industry service providers, and trade bodies. Members will have access to trading licenses, on-site assortment and independent valuation services, secure vaulting, and specialist insurance.

The Ras Bufontas Free Zone offers eligible businesses 100% foreign ownership and zero corporate tax. QDE also plans to host regular tenders for rough and polished diamonds, connecting producers in Africa and Asia with buyers across Europe and the Gulf.

Financial experts cited by QNA said the exchange could help broaden Qatar’s economic base by attracting international traders and investment, while creating opportunities for local businesses and strengthening the country’s position in the global diamond and precious stones market.

Qatar became a full participant in the Kimberley Process Certification Scheme in 2021, enabling it to issue certificates for rough diamond trading.

The international scheme regulates the rough diamond trade through government-issued certificates of origin and is designed to improve transparency and prevent conflict diamonds from entering the global market.