Israel's Yoram Dvash Re-elected as President for Second Term

The Israel Diamond Exchange (IDE) President Yoram Dvash has been re-elected unopposed and will serve a second term.

Unlike his first term, which was for two years, this term will last for three years, following a change to the exchange's law and regulations earlier this year.

The IDE also held elections for its board of directors, as well as members of the Control Committee which saw 16 new board members elected.

In his previous term as IDE President, Yoram Dvash introduced innovations to the diamond exchange's operations, negotiating a new agreement with the Tax Authority, instituting its first ethical code and strengthening its arbitration system.

He also set up the IDE’s International Tender Center, an e-commerce wing in the bourse, promoted the establishment of two new polishing centres for large diamonds on exchange premises, and inaugurated the IDE’s Innovation Center to host early-stage start-ups in the diamond industry.

On his Facebook page, Dvash thanked bourse members for their support, writing: “The elections are behind us and it’s time to get back to work. In the next few days we will meet to plan our activities, fill positions and work diligently to promote our industry.”