WFDB Moves Toward Best Practices Program


June 20, 2005

WFDB Moves Toward Best Practices Program

The World Federation of Diamond Bourses designed a new logo as its first step toward developing a program to accredit the ethical standards of its members on a range of best practices to be described and audited by WFDB.

The launch of the new logo will lead to what the group calls the "WFDB Mark," a symbol that will serve as a trademark for approved members of WFDB-affiliated diamond exchanges to display to clients and suppliers, to confirm they abide by WFDB's better business principles.

"As we all have come to realize, the stakes of consumer confidence in our product – the diamond – are very high. Therefore, WFDB feels it is imperative that the organization's profile will be seen and appreciated by the consuming public," says WFDB president Shmuel Schnitzer. "Our strategic plan and the development of the WFDB Mark, and of the logo, are part of that effort. The WFDB was created to engender responsible and ethical business practices, and by showing to the public how we do this, we will be able to provide support to individual diamantaires."

The final version of the logo carries the slogan "Upholding Integrity Since 1947." WFDB vice president Ernest Blom, who heads the WFDB Promotions Committee that coordinated the new logošs design and launch, said: "This is a clear reminder of our members' unremitting commitment to our organization's standards."

by Peggy Jo Donahue

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