Can anyone help me with the name of this font or suggest a similar one for the creation of a monogram this type ?

Here are pretty much all the monogram fonts I can think of, but no exact match. Closest to sample is probably Harold Original or MFC Moissanite Monogram. Hope this helps.
http://www.fontbros.com/selectronic/monograms
http://www.letterheadfonts.com/fonts/monogramdiamond.php
http://www.letterheadfonts.com/fonts/monogramcircle.php
http://www.letterheadfonts.com/fonts/monogramoval.php
http://myfonts.us/td-CSbkju