Doha, July 29 (QNA) - The Qatar Diamond Exchange (QDE) has officially been admitted as a member of the World Federation of Diamond Bourses (WFDB), the body that unites the world's leading diamond bourses under common trading rules and a shared code of conduct.

Qatar Diamond Exchange Director Ghanim Nasser Al Saadi said the membership reflected international recognition of the exchange's trading standards and governance, placing it alongside the world's leading diamond trading centers. He said the World Federation of Diamond Bourses' decision to admit QDE followed its assessment of the exchange's operations, standards and workforce.

Al Saadi added that the federation had nominated Qatar to host the 2027 Presidents' Meeting, saying the event would give leaders of the global diamond industry an opportunity to see the Qatar Diamond Exchange firsthand.

Mehul Shah, President of the World Federation of Diamond Bourses, said: "The WFDB is delighted to welcome the Qatar Diamond Exchange as a member. Qatar has real potential in diamonds with a friendly, business-first policy environment, strong buying power, and an excellent geographical location. We wish QDE every success and look forward to the 2027 Presidents' Meeting in Qatar."

Qatar has been part of the global diamond ecosystem since 2021, when the State joined the Kimberley Process Certification Scheme as a full participant. WFDB membership now builds a new trade bridge between Qatar and the industry's principal markets.

The exchange said the membership represented recognition by the world's diamond bourses and marked the Qatar Diamond Exchange's entry into the World Federation of Diamond Bourses' global network of member exchanges.

The exchange said membership would give companies trading through QDE reciprocal recognition across the federation's member bourses, access to its arbitration framework, and assurance that transactions in Qatar are conducted in accordance with the WFDB Code of Conduct.

The announcement builds on QDE's recent admission to the World Diamond Council (WDC), which represents the global diamond industry within the Kimberley Process certification scheme. With memberships in both organizations, the exchange said it operates in line with the WDC's System of Warranties and the WFDB Code of Conduct.

Formally announced earlier this week, the Qatar Diamond Exchange opens a new trade sector for Qatar, connecting the country to the global diamond industry in line with Qatar National Vision 2030.

QDE operates as a single regulated platform that offers a secure trading floor, private negotiation suites, an institutional-grade vault with 24/7 on-site security, and on-site customs and Kimberley Process certification. All located at Ras Bufontas Free Zone, adjacent to Hamad International Airport. (QNA)