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RAPAPORT... Jacob Banda, president of the New York Diamond Dealers Club (DDC), passed away this past Friday evening, a spokesperson for the World Federation of Diamond Bourses (WFDB) confirmed. He was 62. His funeral took place on Saturday evening.
Banda was a longstanding member of the diamond industry and was first elected to head the DDC in 2000. He was re-elected to the position in February of this year. Banda was also appointed to the executive committee of the World Federation Diamond Bourse (WFDB) in 2000. Moshe Mosbacher has served as acting president of DDC since Banda fell ill in the late spring.
“It is with very great sadness that we learned of his death," said WFDB president Avi Paz. "Mr. Banda was well known and respected throughout the diamond world. We knew that he had been ill for the past few months, but this nonetheless comes as a great shock to the world community. We send our condolences and best wishes to his family.”
The WFDB noted that while serving on the organization’s executive committee, Banda had devoted a great deal of time to promoting consumer confidence and particularly to forging a common approach among the gem labs for treatment and synthetics. He headed the special WFDB subcommittee devoted to formulating policy on high pressure-high temperature (HTHP) treatments and synthetic diamonds.
“At the DDC, Mr. Banda oversaw a technological revolution with the launch of the diamond exchange's online presence and consequently, a greatly expanded club membership, with the acceptance of hundreds of ‘e-members,’ who participate in the DDC's Internet-based diamond trading system,” the WFDB reported.
Banda was born in Israel and had lived in the United States since 1964. He is survived by his wife, ten children and 40 grandchildren.
LH
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1. Sad to see you go Jacob
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During my years as President of the Diamond Bourse of Southeast United States I came into contact with Jacob Banda a lot.He showed a lot of repect, and more importantly a lot of kindness to the President of a much smaller club.During the New York Congress he went out of his way to keep me in the loop and made me a part of the event.He was larger than life.I shall miss him.
My thoughts and prayers are with his family.
Derek Parsons
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By:
Derek Parsons
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10/20/2009
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2. a sincere business man who cared
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Mr Banda fought hard for all those who didnt have a voice ..those were the small businessmen who time and time again found themselves being hurt ,scammed , or taken advantage of ..he was the general on the front line of their battles. Before Mr Banda took ill , he confided that on his desk at the time he had between 80 million to 100 million dollars worth of such disputes .He took it to heart..it was his battle and all us small guys felt safe.We all in the diamond industry will surely miss him.It is truly a sad day for us.May his memory be always a blessing.
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By:
michael poulad
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10/18/2009
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