07 Dec 2019
DiamondWorld Directory
Home |
News
Home
WFDB President Ernie Blom Praises Close Working Relationship with CIBJO at Bahrain Congress
The unity allows the diamond and jewelry industry to provide a unified response in the face of global challenges
By: Diamond World News Service
|
Nov 19 2019 12:34PM
|
Reference: 24606  

DecreaseIncrease

World Federation of Diamond Bourses (WFDB) President Ernie Blom has praised the close working relationship between the WFDB and CIBJO, the World Jewellery Confederation, at the opening of the 2019 CIBJO Congress which started today in Bahrain. The unity allows the diamond and jewelry industry to provide a unified response in the face of global challenges, he told the international gathering.

"The WFDB's Exchange Presidents and Commission Presidents and members voluntarily devote an enormous amount of time to the organisation's work because they know the importance of working together as a global body in order to deal with the challenges we face. I must mention the close cooperation between the WFDB and CIBJO that has proven to be invaluable, especially in recent years regarding our united stand on the various challenges facing the industry.

"In light of the questionable advertising of the lab-grown diamond manufacturers in recent times, I believe that the necessity for us to work together has never been greater so that we can counter these claims and prevent consumer confusion regarding synthetics and diamonds.

"As with the WFDB, CIBJO has been promoting Corporate Social Responsibility and transparent supply chains. At the WFDB, we have also strongly embraced KYC, or Know Your Customer. It is absolutely vital to the future of the trade. The world of business has changed tremendously. Compliance of a clear audit trail of one’s buying/selling processes is now an integral part of a diamantaire’s business. You could say compliance is the “Fifth C” of the business. It is for these reasons that the WFDB has adopted the KYC principle. "Traceability regarding diamonds is also an essential of today's business, and we encourage our members to be completely transparent regarding their diamond supply chain," he added.

Have Your Say
* Your view
* Name:
* Email:
* Town/city:
* Country/State:
Search News by City
Recent Issue
2019
AVAILABLE NOW...!
News in Pictures
Videos
Young Diamantaires
Pictures: 16
Stunning Jewellery from Cannes 2019
Pictures: 24
Sparkly Jewels at Oscars 2019
Pictures: 19
Golden Globes 2018
Pictures: 15
Spotted: Who Wore What (December 2018)
Pictures: 4
India Diamond Week
Pictures: 8
Spotted: Who Wore What (October 2018)
Pictures: 7
Spotted: Who Wore What (September 2018)
Pictures: 6
70th Emmy Awards
Pictures: 11
35th India International Jewellery Show 2018
Pictures: 46
JJS - IJ Jewellers Choice Design Awards 2015 powered by GIA
Views: 22486
GJEPC Chairman Interview
Views: 20537
IJ Jewellers Choice Design Awards 2012 - Part 1
Views: 27728
Promo for IJ Awards 2012 at NDTV Profit
Views: 40655
IJ Jewellers Choice Design Awards 2012- Part 2
Views: 44398
Couture India 2016 - A Business Boutique Show by IJ Magazine
Views: 17464
Savjibhai Dholakiya, Surat Businessman (Diamond Merchant) speaks in Vibrant 2015
Views: 42535
IJ Jewellers Choice Design Awards 2013 - NDTV Video
Views: 40284
Advertisement
Finestar Diamonds
Advertisement
M.Tarun
Member of:
Supporter of: