Panama Diamond Exchange to host seminar on regulatory policies and KPCS

The Panama Diamond Exchange is organising a seminar for representatives of the Government of Panama, members of the diplomatic corps, the financial and business sectors and the media.

The focus of the seminar will be on regulatory policies associated with Anti-Money Laundering and Combatting the Financing of Terrorism (AML/CFT), specifically related to diamond, gemstone and jewelry trades. An update on measures that are required to implement the Kimberley Process Certification Scheme, to which the Government of Panama is a signatory, will also be shared.

The event is slated on July 22, 2014, at the Tryp Panama Hotel, Panama. The seminar will be conducted in English and presented by Cecilia Gardner, President and CEO of the Jewelers Vigilance Committee in the United States. Ms. Gardner has gained repute as a preeminent legal expert in the gemstone and jewelry industries. She will be joined by Dr. Martin Hochbaum, Managing Director of the Diamond Dealers Club (DDC) in New York and Chairman of the U.S. Kimberley Process Authority.

Eli Izhakoff, PDE's Founding Chairman mentioned that being the ‘only recognized diamond exchange in Latin America,’ the PDE was ‘committed to doing all that we can to ensure that the regional gemstone and jewelry trade meets all the international standards required to ensure the integrity of our products and our business community." "We are pleased to know that the Panamanian Government shares our opinion, and is ready to work with us to meet these goals," he added.

"The seminar is being conducted in support of the Panamanian Government's commitment to work with the FATF (Financial Action Task Force) to build its AML/CFT enforcement and to update its implementation of the Kimberley Process system," said Ms. Gardner. The training offered by the JVC and the DDC NY aims to ensure full knowledge on the part of relevant government officials of the steps required to engage with the international community to prevent money laundering, terrorist financing, and the trade in conflict diamonds."