Qatar has officially launched the Qatar Diamond Exchange (QDE), a new regulated marketplace for rough and polished diamonds, as part of its strategy to diversify its economy and deepen its involvement in the global diamond trade. Based in the Ras Bufontas Free Zone, the exchange integrates trading, certification, vaulting, customs, and industry services into a single ecosystem.
Sheikh Mohammed Bin Hamad Bin Faisal Al-Thani, CEO of the Qatar Free Zones Authority and chairman of QDE, said the exchange represents "an important step in Qatar's efforts to further diversify its economy and strengthen its position as a trusted participant in global diamond trade." He added that QDE brings together "the full diamond and precious stones value chain within a single regulated ecosystem spanning trading, storage, vaulting, auctions and tenders, and industry support services."
Built on international standards
The launch builds on Qatar's participation in the Kimberley Process Certification Scheme, the international framework that governs the trade in conflict-free rough diamonds. Under legislation introduced in 2025, Qatar's free zones became the country's sole authorised entry and exit points for rough diamonds, with the Qatar Free Zones Authority designated as the competent authority. QDE will serve as the regulated platform through which members can trade, store, and certify diamonds within that framework.
Membership is open to diamond traders, manufacturers, cutters, polishers, and industry service providers. Companies operating through the exchange can access trading licences, secure vaulting, valuation services, and specialist insurance, alongside free-zone incentives including 100% foreign ownership and 0% corporate tax for qualifying businesses.
This move comes as global wealth patterns shift. A recent report showed that the global millionaire count surged by two million in 2025, with Europe seeing uneven gains, which could influence demand for luxury goods like diamonds.
Qatar's push into the diamond trade also reflects broader geopolitical dynamics. The Gulf state has been strengthening ties with various international actors, including hosting a visit by rabbis to its emir for condolences, showcasing interfaith bonds.
For European diamond traders and investors, the QDE offers an alternative hub to established centres like Antwerp, London, and Tel Aviv. The exchange's location in a free zone with tax incentives and a regulated environment may appeal to businesses seeking to expand their operations in the Middle East.
As the diamond industry evolves, with growing emphasis on ethical sourcing and transparency, Qatar's alignment with the Kimberley Process could position it as a credible player. The exchange's success will depend on its ability to attract a critical mass of international traders and maintain high standards of certification and security.
