It was celebration time in Antwerp recently to commemorate two major milestones: the  70th anniversary of the World Federation of Diamond Bourses (WFDB) and the 570th anniversary of the city's diamond history.

Fittingly, the Executive Committee members of the WFDB, together with leading officials from the Belgian diamond industry, held a joint celebration to mark the important milestones.

The celebration event held at Antwerp's MAS Museum – which tells the story of Antwerp and its history – was hosted by AWDC CEO Ari Epstein. A special exhibition 'Dazzling Desire' was also held to mark the occasion. 

Speaking at the event, Epstein lauded the work of the WFDB over the past decades.  

Ernie Blom, President of the WFDB, giving an insight into the history of the organisation, spoke of the importance of the WFDB's establishment in the aftermath of the Second World War in 1947. He also dwelt upon the “historic and continuing role of the international body in working for the good of the global diamond industry”.   

Referring to the critical role played by Antwerp in the global diamond trade for almost six centuries, Blom said: "Antwerp has long been the world's leading diamond trading centre. Tonight we look back 570 years to 1447 when the diamond business was established here and congratulate you for continuing this extraordinary story."  

Other speakers included Koen Kennis, Alderman of the City of Antwerp, Philippe Barsamian, President of the Federation of Belgian Diamond Bourses, and Vera De Boeck, curator of the MAS Museum.

Another event in Antwerp that WFDB participated in was a Finance Seminar.

Speaking at the seminar,  Blom said: "It is no secret that finance remains the main challenge for the global diamond trade. Our members are simply not receiving enough credit in order to run and expand their businesses because the banking community is putting too many obstacles in the way by wrongly regarding the diamond industry as high risk. This is ironic because the diamond trade is overwhelmingly comprised of company owners who run their businesses in a highly responsible and prudent manner. We need to find solutions to this issue. We need solid proposals that will enable us to bring about concrete action to help our members across the world."

Other speakers at the seminar included  Sabine Smets, Head of ABN Amro's Diamond & Jewellery Clients for Belgium, and Chris Ellis, Managing Director of D-Fin, who both took part in a question and answer session with attendees as well.

The third event for the WFDB in Antwerp was its own Executive Committee (ExCo) meeting.

The ExCo “tackled  a packed agenda” WFDB said. This included a discussion on the World Diamond Council's draft System of Warranties; and the need for an educational programme so that diamonds could be called as such without the need for the prefix  "natural" before it.

The Committee also discussed the proposed work of the International Diamond Monitoring Committee which was created by the GJEPC and the Bharat Diamond Bourse in July and supported by the WFDB.

“ExCo members then went on to discuss a revision of the WFDB's By-Laws and Inner Rules,” WFDB outlined. “Once finalised, the proposed draft amendments will be sent to the bourses for review with the aim of presenting them and having them accepted at the next World Diamond Congress which will take place in Tel Aviv from July 2-5, 2018.”

The Committee was also informed of the application received from the Associacio Diamantiers in Portugal for membership to the WFDB.

Pic Cap: WFDB President Ernie Blom addressing the Finance Seminar