Blogs by WFDB President

A NEW NORMAL IN THE DIAMOND TRADE

ABN Amro Bank recently sent a letter to several of its diamond clients stating that it would be limiting finance for rough purchases "in view of the continued lack of profitability in the purchase of rough goods. We recommend you to show constraint and only consider purchasing rough when there is sufficient profitability. We want our clients to … refrain from purchases just with the aim to hold on to existing allocations with the mining companies or just to remain fixed to sources only hoping for better times to come.”

THE KP ELEPHANT IN THE ROOM HAS TO BE DEALT WITH

By Ernie Blom, WFDB President

The Kimberley Process Certification Scheme (KPCS) Intersessional Meeting in Mumbai completed its half yearly meeting three weeks ago. It gave us some time to reflect on why the KPCS agenda is moving so slowly.

Undoubtedly, the KPCS is one of the great accomplishments of the worldwide diamond community of the last two decades. ‎Since the WFDB-IDMA Congress in Antwerp in the year 2000, enormous steps have been made to create a safer, conflict-free diamond trade.

WFDB Bourses

A bourse whose members deal in diamonds, precious stones or jewellery is entitled to apply for membership of the WFDB provided they have been established for at least one full year under a written constitution, have a clearly designated and representative governing body, and are able to prove their means of subsistence.

Members of the bourses affiliated to the World Federation of Diamond Bourses pledge themselves to uphold the traditions, principles of mutual trust, consideration and friendship which prevail among the members of the bourses world-wide.

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