IDE Launches Aware­ness Cam­paign On Syn­thetic Di­a­monds

Solitaire - - SPECTRUM -

The Is­rael Di­a­mond Ex­change (IDE) has be­gun an aware­ness cam­paign to en­sure that its 3,500 mem­bers are in­formed of the far-reach­ing im­pli­ca­tions of trad­ing – know­ingly or un­know­ingly – in syn­thetic di­a­monds.

Sh­muel Sch­nitzer, pres­i­dent of the IDE, said, “Our in­dus­try is built on trans­parency, in­tegrity and ac­count­abil­ity. There­fore, those few un­scrupu­lous for­eign deal­ers who have been mix­ing syn­thetic di­a­monds into parcels of nat­u­rals and sold them as nat­u­ral di­a­monds are caus­ing tremen­dous dam­age to the rep­u­ta­tion of our en­tire in­dus­try. The IDE board and I will do all we can to pro­tect our mem­bers from fall­ing vic­tim to these un­eth­i­cal prac­tices, but at the same time will not hes­i­tate to ex­pel those mem­bers who have been proven guilty of not dis­clos­ing syn­thetic di­a­monds that they have sold.”

IDE board mem­ber Yo­ram Dvash, who heads the IDE in­dus­try com­mit­tee, said that while undis­closed syn­thetic di­a­monds had not yet been en­coun­tered in the Is­raeli trade, the is­sue is of ma­jor con­cern. “As one of the world’s lead­ing di­a­mond manufactur­ing and trad­ing hubs, pol­ished di­a­monds from all manufactur­ing di­a­mond cen­tres are traded here. There­fore, we are very much ex­posed to these chal­lenges and our mem­bers must know what they’re up against,” Dvash said.

IDE’s aware­ness cam­paign be­gan on De­cem­ber 8, 2013, with its first lec­ture on syn­thetic di­a­monds by in­dus­try an­a­lyst Chaim Even Zo­har, who dis­cussed the eco­nomic, eth­i­cal and le­gal as­pects of trad­ing in syn­thetic di­a­monds. “This is the first step. We will fol­low up with hands-on and more tech­ni­cal in­for­ma­tion ses­sions soon,” Sch­nitzer said.

Newspapers in English

Newspapers from India

© PressReader. All rights reserved.