WDMF signs MoU with Borsa İstanbul of Turkey

The World Diamond Mark® Foundation (WDMF) has signed a Memorandum of Understanding (MoU) with Borsa İstanbul of Turkey to implement the programmes of the World Diamond Mark in Turkey.

WDMF Chairman Alex Popov and by Dr. Ibrahim M. Turhan, Chairman and CEO of Borsa İstanbul signed the MoU at the 36th World Diamond Congress in Antwerp. The agreement is the culmination of negotiations and preparations between the two organizations over months. Borsa İstanbul is one of the 28 bourses worldwide affiliated to the WFDB.

"With the Borsa İstanbul as a partner, the World Diamond Mark will gain strong, internal support for reaching out to key organisations and retailers in Turkey," Popov said. "In practical terms, it means that the WDM's first pilot programme for accredited retail members, i.e. Authorized Diamond Dealers (ADDs) will begin in Turkey, one of the most exciting, and rapidly growing luxury product consumer markets."

Dr. Turhan noted that "The planning of our joint promotional activities will start with a possible roll out in late 2014/early 2015. Borsa İstanbul and WDMF both seek to sustain and improve consumer confidence for diamond and diamond jewellery worldwide. We look forward to advance WDMF's main objective, i.e. to accredit retailers and multiply the sales in diamond markets."