The Dubai Diamond Exchange plans to conduct three seminars on diamond financing this year, given the growing importance that the issue holds for the diamond industry, the organisation said in a statement yesterday.

This decision comes in the wake of intense discussions that took place during the panel discussion on diamond finance at the Dubai Diamond Conference on April 22, where leading names from the banking industry and industry leaders presented their point of view. The liquidity issues faced by the industry as well as the need for transparency and the ways in which banks are granted access to company data, were discussed.

Gautam Sashittal, Chief Executive Officer of the DMCC, said: “The diamond trade in Dubai is ably supported by a growing number of local and international banks bringing about new methods of financing the diamond industry. This will ensure that Dubai's pre-eminence as one of the leading global centres for the diamond industry continues to grow.”

Dates and schedules of the proposed seminars will be announced later.