38th WDC concludes
Ernie
Blom Calls for Stronger Role for
Diamond
Body with Think Tank establishment!
Bourses
must be forceful in dealing
with
people found to be breaking the rules
World
Federation of Diamond Bourses (WFDB) President Ernie Blom called on exchange
presidents and members to join hands to boost the global presence of the trade
organization at the conclusion, on Thursday, October 25 of the 38th World
Diamond Congress at the Bharat Diamond Bourse (BDB). The WFDB is clearly the
most important representative body in the global diamond trade, but needs to
think how it can bring added benefits to members, he said.
"Each
president and member is an ambassador for the WFDB and the diamond trade and
the good that diamonds do and needs to communicate this both in the countries
in which they operate and when abroad. We have an enormous amount of knowledge,
experience and intellect among our presidents and that should be used to find
ways for us to further boost our global role," adding that Israel Diamond
Exchange President Yoram Dvash had agreed to lead the project.
Blom
also announced that during his fourth two-year term in office, he would be
pushing a succession planning policy to ensure that younger members of the
diamond trade are brought on board and become active in the running of the
organization.
"It is imperative that we all work to
bring this about. There are many excellent younger members of the trade, both
men and women, across the globe and we must help to groom them for positions of
leadership." Blom also told the meeting that an additional layer of
administration was needed to deal with an increased workload.
On
the challenges the diamond industry faces, Blom said bourses must be forceful
in dealing with people found to be breaking the rules. "Every president
and bourse must have zero tolerance for this activity and this must be clearly
communicated."
Blom
also commented on Know Your Client programs which, he said, were extremely
important to the industry and which can help diamond firms become even more
transparent. In addition, responsible sourcing has become a standard element of
operations and members should embrace it.
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