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WFDB EXCO Meeting and Asian Summit conclude in Singapore
The Summit focused on the activities of local bourses and discussed a whole range of issues facing the industry in Asia
By: Diamond World News Service
Mar 7 2014 6:00PM
Reference: 8921  

The World Federation of Diamond Bourses (WFDB) concluded a two-day Executive Committee Meeting and Asian Summit in Singapore. Presidents of Bourses from Australia, Belgium, India, Israel, Japan, Russia, Singapore, South Africa, Thailand and the USA were present as were the guests from Korea and Malaysia, regional diamond community representatives and Alrosa.

The Asian Summit, organised by the Diamond Exchange of Singapore, focused on the activities of local bourses and discussed a whole range of issues facing the industry in Asia, and their impact on the global diamond trade.

WFDB President Ernest Blom addressed the fight against money laundering and international terrorism. “The WFDB will be introducing stringent compliance regarding KYS/KYC (Know your Supplier/Client)” – said Blom, “the introduction of this policy in all WFDB affiliated bourses will clearly identify the rogue elements attempting to tarnish the high standards of our trade”.

Anoop Mehta, President of Bharat Diamond Bourse said, “In India take the problem very seriously. We have commissioned a comprehensive study on synthetics and understand that despite the fact this is still a very small problem, the industry has to be cognizant of it”.

Ernest Blom concluded, “The WFDB is committed to the future growth of the industry and of our World Diamond Mark programme that creates not only the most exciting marketing campaign for the diamond and diamond jewellery industry, but extends its arm to the diamond retailer through the introduction of the Authorised Diamond Dealer status.”

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