Ahmed Sultan Bin Sulayem

Ahmed Sultan Bin Sulayem (Arabic: أحمد سلطان بن سليّم) is the Executive Chairman of the Dubai Multi Commodities Centre Authority (DMCC), the free zone authority for Jumeirah Lake Towers which was established in 2002 as a strategic initiative of the Government of Dubai to provide the physical, market and financial infrastructure required to set up a commodities market place in Dubai. As of 31 December 2012, the JLT Free Zone had over 5,500 registered members including both commodities and other businesses. In 2011, Bin Sulayem completed 10 years with DMCC.

Career

As the Executive Chairman of DMCC, Bin Sulayem has played a key role in establishing and positioning DMCC as a major commodities trade hub in the region. Under his leadership, DMCC has introduced a number of value-added products and services; this includes the establishment of the Dubai Diamond Exchange (DDE), the only diamond exchange in the Arab World affiliated to the World Federation of Diamond Bourses; Dubai Tea Trading Centre (DTTC) which offers a range of value-added facilities to the global tea trade; DMCC Tradeflow, a central registry of ownership for commodities stored in Dubai stimulating commodity trade by offering enforceable collateral based trade finance solutions; as well as other services, such as gold refineries, gold and diamond vaults; as well as the UAE gold bullion coins and the Visions of Dubai gold souvenir coins.

Bin Sulayem joined DMCC in 2001 as a director, prior to the entity’s official launch in 2002, and his responsibilities included overseeing the organisation’s operations. Today, he is the Executive Chairman of DMCC, as well as the director of Human Resources, and Director of Dubai Shariah Asset Management (DSAM) and Dubai Commodity Asset Management (DCAM).

He has also played a leading role in reviving Dubai’s traditional pearling industry by launching the Dubai Pearl Exchange in 2007 and conceptualised the idea behind Almas Tower, the tallest commercial building in the Middle East, home to Dubai Diamond Exchange, the largest vault in the UAE, and DMCC headquarters.

In April 2011, DMCC hosted the World Federation of Diamond Bourse's annual Presidents' meeting, an initiative spearheaded by Bin Sulayem. This event was the first of its kind to be held in the Arab world. In addition, on August 15, 2011, Bin Sulayem unveiled the prototype of the UAE's first gold bullion coin. The coin recognises the visionary leadership of His Highness Sheikh Khalifa Bin Zayed Al Nahyan, President of the United Arab Emirates and His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai. Designed by DMCC, the “Khalifa” coin features a portrait of His Highness Sheikh Khalifa on one side, and on the other, Burj Khalifa, the world’s tallest tower.

Following the announcement of its first gold UAE bullion coin in August 2011, on 2 December 2011, DMCC released the first design impressions of the second UAE bullion coin as part of DMCC’s celebration of the 40th anniversary of the UAE and in recognition of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President of the UAE and Ruler of Dubai. Titled “Palm Jumeirah”, the gold coin features a portrait of His Highness Sheikh Mohammed bin Rashid Al Maktoum on one side, and on the other, an image of the iconic Palm Jumeirah. The coin is the second in a series and follows the “Burj Khalifa” coin which was successfully launched last August, and paid tribute to His Highness Sheikh Khalifa Bin Zayed Al Nahyan, President of the UAE.

DMCC is also in discussions with the UAE Central Bank to designate the gold bullion coins as the first legal tender in the UAE and the Middle East as a whole.

In June 2012, Bin Sulayem received UN accreditation to represent Western Asia on behalf of CIBJO, the international jewellery confederation of national trade organisations. CIBJO has been a consultative member of ECOSOC, the United Nations Economic and Social Council, since 2006. ECOSOC is one of the largest agencies operating under the United Nations umbrella, and is a coalition involving government, civil society and the business community.

Bin Sulayem is also the Chairman of the Dubai Gold and Commodities Exchange (DGCX), an initiative of DMCC, Financial Technologies (India) Limited and the Multi Commodity Exchange of India Limited (MCX). In May 2006, he was honoured by the Diamond Dealer’s Club in New York City, U.S, during its 75th anniversary, for his contribution to the international diamond trade. Prior to joining DMCC, he was a Director at Asteco, a leading real estate company in Dubai.

Education

Bachelor’s degree in Business Administration, California State University – San Bernardino, 2000

Timeline

2001: Director, Pre-Implementation DMCC Authority.
May 2002: Chief Operating Officer, DMCC
February 2006 Vice President, DDE
July 2006 - May 2009: General Manager, JLT
May 2007: Executive Chairman, DMCC
June 2007: Director Seven Tides International
September 2007: Director: Seven Tides Limited
November 2007, Chairman, DGCX
March 2008: Director, DCAM and DSAM
April 2011: HR Director and Executive Chairman, DMCC
June 2012: UN accreditation to represent Western Asia on behalf of CIBJO

Awards and honours

Honoured by the New York Diamond Dealers Club (DDC) in 2006 as part of its 75th anniversary celebrations for contributing to the global diamond industry.
Facilitating Most Innovative Structured Transaction Award in 2007, Deal of the Year Award.
Deal of the Year 2008, Euromoney’s Trade Finance Magazine (Global Multi Commodity Receipt (GMR)-facilitated financing by Standard Chartered Bank to Mohsen Line Trading).
Middle East Investor Award, Hedge Funds World Middle East Conference 2010.
Best Fund-of-Funds, Failaka Islamic Fund Award, April 21, 2010.
Outstanding Performance & Innovation Award, MENA Fund Manager Awards 2011.
Outstanding Performance & Innovation Award, MENA Fund Manager Awards 2012

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Ahmed Sultan Bin Sulayem

Career

Education

Timeline

Awards and honours

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