Mr. Jacob Banda, a respected long-time leader in New York's diamond industry, passed away recently, suffering a brief illness. He was 62. Amongst his major contributions was in playing the role of president of the Diamond Dealers Club, introducing the DDC to the modern age communication of the internet. He was an institution in New York's Diamond District, centered on 47th Street, where he worked for over 30 years.

Mr. Banda was born in Israel, and was a Satmar Chosid, resided in the United States since 1964. He resided in Kiryas Joel. His career began as a diamond cutter dealing in polished goods with a specialty in fancy coloured goods, and an expert in large stones and coloured stones of all sizes.

He also was known for his charitable endeavours and ran for the post of Mayor for Kiryas Joel in 2005. In his native Satmar Chasidic community, Mr. Banda was known as an iconic philanthropist and supported the now-legendary Hatzolah organisation.