WFDB mark presented to Dubai traders

The WFDB Mark was the subject of a presentation at the C5 conference, organised by the Dubai Diamond Exchange (DDE), for diamond traders, on January 14th. More than 150 participants, including existing and potential DDE members and diamond ancillary industries, attended the conference, which saw the launch of the World Diamond Council’s (WDC) Diamond Confidence Kit.

“The theme of the C5 conference (the fifth ‘C’ being confidence) revolves around the tools that are being developed to enhance confidence in the diamond industry—among both traders and consumers—as this is the value that the diamond trade is built on,” said DDE deputy chairman Ahmed Bin Sulayem.

Ernie Blom, president of the World Federation of Diamond Bourses (WFDB), said, “The WFDB Mark is the first internationally regulated diamond-related confidence tool and implies that the member abides by the WFDB Code of Business.” Officially, the program was given the green light at the World Diamond Congress in Tel Aviv last June, and it is now about to be implemented at the WFDB's 26 affiliated bourses, including the Bharat Diamond Exchange in Mumbai.

“The Diamond Confidence Kit is developed to educate jewellery retailers about conflict diamonds and, more generally, the retailer's role in developing confidence in diamond consumption,” said Eli Izhakoff, the chairman of the World Diamond Council (WDC). It comprises a series of procedures and guidelines in accordance with international best practices.