It has been revealed this week that the Dubai Multi Commodities Centre have furthered their long term objectives in diamond banking within Dubai, by negotiating a potentially lucrative deal with HSBC. This will ultimately create a diamond banking facility within the area – financing the diamond industry within the local vicinity.

The diamond industry within the United Arab Emirates has seen a massive increase over recent years and it is a staggering fact that the expected volume of trade which will be conducted this year stands at thirteen and a half billion dollars.

These stones are infiltrating the diamond necklace and diamond earring market in particular, and this move is guaranteed to secure their future for years to come, despite senior figures in the area urging other banking institutions to follow HSBC’s lead.

The high street bankers are set to unveil an eclectic range of service to the industry, and are set to add to its already substantial value. The bank are rumoured to be offering factoring services, hedging and physical services, as well as more commonplace tasks.