Ahmed Sultan Bin Sulayem
Encyclopedia
Ahmed Sultan Bin Sulayem (Arabic: أحمد سلطان بن سليّم) is the Executive Chairman of the Dubai Multi Commodities Centre
Authority (DMCC). is the free zone authority for Jumeirah Lake Towers
and was established in 2002 as a strategic initiative of the Government of Dubai with a mandate to provide the physical, market and financial infrastructure required to set up a commodities market place in Dubai. As of 1 July 2011 it had over 3,300 registered members including both commodities and other businesses. In 2011, Bin Sulayem completed 10 years with DMCC.
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.
DMCC is also in discussions with the UAE Central Bank to designate the gold bullion coin as the first legal tender in the UAE and the Middle East as a whole.
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 Seven Tides, a leading real estate company in Dubai.
– San Bernardino, 2000
Dubai Multi Commodities Centre
The Dubai Multi Commodities Centre is the free zone authority for the Jumeirah Lake Towers free zone. It was established in 2002 as a strategic initiative of the Government of Dubai with a mandate to provide the physical, market and financial infrastructure required to set up a commodities market...
Authority (DMCC). is the free zone authority for Jumeirah Lake Towers
Jumeirah Lake Towers
The Jumeirah Lake Towers is a huge development in Dubai, United Arab Emirates which consists of a 79 towers being constructed along the edges of four artificial lakes as well as the JLT Embankment of 8 tower facing Jumeirah Islands. The lakes will be completely filled by end of 2009...
and was established in 2002 as a strategic initiative of the Government of Dubai with a mandate to provide the physical, market and financial infrastructure required to set up a commodities market place in Dubai. As of 1 July 2011 it had over 3,300 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; Dubai Cotton Centre (DCC) re-export facilitation arm, as well as other services, such as gold refineries, Global Multi-commodities Receipt (GMR), gold and diamond vaults; as well as 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
United Arab Emirates
The United Arab Emirates, abbreviated as the UAE, or shortened to "the Emirates", is a state situated in the southeast of the Arabian Peninsula in Western Asia on the Persian Gulf, bordering Oman, and Saudi Arabia, and sharing sea borders with Iraq, Kuwait, Bahrain, Qatar, and Iran.The UAE is a...
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.
DMCC is also in discussions with the UAE Central Bank to designate the gold bullion coin as the first legal tender in the UAE and the Middle East as a whole.
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 Seven Tides, a leading real estate company in Dubai.
Education
Bachelor’s degree in Business Administration, California State UniversityCalifornia State University
The California State University is a public university system in the state of California. It is one of three public higher education systems in the state, the other two being the University of California system and the California Community College system. It is incorporated as The Trustees of the...
– 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
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.
See also
- Dubai Multi Commodities Centre
- Jumeirah Lakes Towers
- Dubai Gold and Commodities Exchange
- Dubai Diamond Exchange
- Dubai Pearl Exchange
- Dubai Tea Trading Centre
- Dubai Cotton Centre