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IDE Calls For Complete Transparency of Synthetic Diamonds
Dec 10, 2013 10:43 AM
By Sonya Burlan
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RAPAPORT... The Israel Diamond Exchange (IDE) hosted a lecture on synthetic diamonds on December 8. The leaders of the Israeli diamond industry united in calling for the segregation of natural and synthetic diamonds, echoing similar calls for transparency across the global diamond trading centers.
"A diamantaire that is caught selling packages mixed with synthetic diamonds, without declaring it, will immediately be expelled from the diamond bourse," said Schmuel Schnitzer, IDE's president. "We cannot stick our heads in the ground while this occurs. Therefore, we have begun to initiate actions to deal with the issue together with the World Federation of Diamond Bourses and the IDE's team of lawyers," Schnitzer stated.
Avraham Traub, the president of the Israel Diamond Manufacturers Association (IsDMA), said, "The diamond trade is built on trust and integrity. Therefore, it is important that those dealing with synthetic diamonds declare it. I suggest that those caught pay a fine of ten times the cost of the deal. We must preserve the integrity of our business and the trust of our customers."
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Tags:
IDE, Sonya Burlan, Synthetic diamonds
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