IDMA Congress focusing on financing

Conversations with Industry Leaders on March 28  

IDMA Congress to be held during the afternoon of March 28 at the D-Mall, participants will be discussing, among other topics, the State of the Diamond Market, including the diamond and diamond jewelry retail markets in the U.S., and the relationship – or the lack thereof - between diamonds and LGDs. 

One of the modules of the Conversations with Industry Leaders to be held during the 40th IDMA Congress in the afternoon of March 28 will revolve around, Financing and Technology in the Diamond industry. 

Three conversation participants will share the stage: Pranay Narvekar of Pharos Beam Consulting, a renowned diamond industry analyst; Ophir Gore, Director of Diamonds, Precious Stones & Jewelry Administration at Ministry of Economy & Industry, Israel; and David Block, CEO of Sarine Technologies.  

The three will discuss the industry's financial health, the changing landscape of the financial institutions and bodies that service the diamond industry and trade, and the interwoven relationship between financing and diamond technology.  

"For diamond manufacturers, financing rough acquisitions, manufacturing, and stock holding is one of their biggest challenges. Therefore, it is an ever-recurring topic in our biennial industry deliberations." IDMA President Ronnie VanderLinden said. "We're glad to have three distinguished speakers on the topic!"  

Finance is always at the forefront of a manufacturer's mind, said Nissim Zuaretz, President of the Israel Diamond Manufacturers Association (IsDMA). "We need to pay upfront for rough, finance the manufacturing stages, and extend credit to our buyers. In other words, manufacturers find themselves between the hammer and the anvil. The classic banking solutions and services are well known but have become more difficult to acquire. Therefore, I am looking forward to hearing more about alternative routes for financing our operations!" he added.  

IDMA's 40th Congress is sponsored and co-organized by the Israel Diamond Manufacturers Association (IsDMA) and the Israel Diamond Institute (IDI).