WDFB Adopts Quality Mark, Elects Officers at 32nd Congress

July 3, 2006

WDFB Adopts Quality Mark, Elects Officers at 32nd Congress

The World Federation of Diamond Bourses focused on issues of consumer confidence and of corporate and personal responsibility during the biennial meeting of its general assembly at the 32nd World Diamond Congress, which took place in Tel Aviv, Israel, June 26-29.

During the congress, the WFDB inaugurated and launched the WFDB Mark, a quality mark that is intended to help build consumer confidnece. "The quality mark will be an integral part of our system for maintaining our customers' faith in diamonds as a natural, clean and pure product," said the outgoing WFDB president Shmuel Schnitzer in his address to the congress.

The assembly also accepted the certification of synthetic diamonds under "stringent conditions" in response to the Gemological Institute of America's announcement that it plans to grade gem-quality synthetic diamonds in its lab.

During the congress, Ernest Blom, chairman of the Diamond Dealers Club of South Africa, was elected WFDB president. The general assembly honored outgoing president Schnitzer by bestowing upon him the title of honorary life president of the WFDB.

Israel Diamond Exchange President Avi Paz was unanimously elected as WFDB vice president. Michael Vaughan, secretary-general, and Dieter Hahn, treasurer-general, were re-elected. Three additional members of the executive board were also elected: David Marcus of the Diamond Club West Coast; Freddy Hager, President of the London Diamond Bourse & Club, and Sergei Oulin, Chairman, Diamond Chamber of Russia.

The WFDB General Assembly confirmed Amsterdam as the location of its Presidents Meeting in 2007 and Shanghai as the site of the 33rd World Diamond Congress in 2008.

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