WFDB Elects Yoram Dvash as President

RAPAPORT... The World Federation of Diamond Bourses (WFDB) has voted in Yoram Dvash as its president for a three-year term, the organization said Tuesday.Dvash, who holds the same position at the Israel Diamond Exchange, had been the WFDB's acting president since Ernie Blom stepped down in April. The election took place at a WFDB working session during this week's virtual World Diamond Congress."The industry has been suffering from a lack of profitability, a shortage of financing, and reduced demand," Dvash said. "It needs to transform to meet the demands of the 21st century. That means adopting the values of the day - transparency, sustainability and consumer confidence. It means working together with regulators to create rules and measures that benefit all."Lin Qiang, president of the Shanghai Diamond Exchange, and Moshe Salem, president of the Diamond Club West Coast in Los Angeles, were elected vice presidents. Antwerp-based Rony Unterman continues as secretary-general and Mumbai-based Mehul Shah as treasurer-general.Meanwhile, the WFDB voted to include the Guangzhou Diamond Exchange as the federation's second Chinese member after the Shanghai bourse.The World Diamond Congress, a joint conference of the WFDB and the International Diamond Manufacturing Association, began Monday in an online format due to the Covid-19 pandemic.Image: Yoram Dvash. (Israel Diamond Exchange)