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The Israeli Diamond Industry


THIS PAGE IS INFORMATIVE - IT IS NOT AN OFFICIAL SITE OF THE ISRAELI DIAMOND EXCHANGE - HOWEVER ALL THE COMPANIES THAT PARTICIPATE IN THIS SITE ARE RECOGNISED MEMBERS OF THE ISRAELI DIAMOND EXCHANGE. WE THEREFORE THOUGHT IT CONTRIBUTIVE TO GIVE INFORMATION ON THE EXCHANGE AS A MATTER OF COURTESY.


The Source

The Israeli Diamond Exchange has been over the last 40 years the world's biggest source for polished diamonds. In 2004 Israel exported over 6 billion Dollars worth of polished diamonds. There are over 2000 members in the exchange and the trade is led by fifty large firms, two hundred medium size firms and a few more hundreds of small firms .The trade and Industry ministry has a control unit in the exchange and all export and import of diamonds are being recorded .The Ministry awards an Exporter certificate to every firm. The certificate is the most reliable commendation in the Diamond trade.


Israel’s biggest clients are:
  • USA
  • Japan
  • Belgium
  • Germany
  • Hong Kong/China
  • Bangkok
  • France
  • UK
  • Taiwan


The current IGI ( Israeli Gemological Institute) Certificate is as reliable as the GIA and at 98% results are identical .
Also available in Israel, GILI certificate, this is an independent gemological institute by Japanese gemologists and is considered even harsher then the GIA.


The Diamond Trade Center
The trade center is placed on Jabotinski Blvd Ramat Gan,right on the border between Tel Aviv and Ramat Gan.It is comprised of four buildings:
Shimshon Building
The first of the complex , completed in the early 60s
Macabi building
The second one, built in the 70s
Noam building
the smallest one , built in the early 80s
Yahalom building
The most recent and largest one , completed in the early 90s


All buildings are connected by bridges and the whole complex is protected by a most advanced security system and guarded by a private security firm that runs like a police force to all intent and purpose .


Diamond Exchange

The Israeli diamonds exchange is an organization formed in the late 40s by Jewish immigrants from Europe, who fled the Nazi regime. It was first established in a coffee shop in Tel Aviv, then in the early 50s it moved to its first hall in Ahuzat Bait St .in the early sixties it moved to the Shimshon building in Ramat Gan and since then it grew immensely. It is a company where each member hold one share and the company is run by a board of directors which are elected every two years .The board is chaired by a President who is also elected in personal election every two years .For many years it was presided by Mr. Moshe Schnitzer who is now an honorary president.


President and Board members

President
  • Mr. Avi Paz
Members of the presidium
  • Mr. Jacob Koren - vice president & deputy
  • Mr. Nissan Chen - vice president
  • Mr. Yoram Harel-Haimoff - vice president
  • Mr Yair Sahar - treasurer
  • Mr. Ilan Samuel- honorary secretary
  • Mr. Yehezkel Blum - vice president
 
Members of the board
  • Mr. Hagai Halevy
  • Mr. Meir Wertheim
  • Mr. Joseph Siani
  • Mr. Yehuda Sayag
  • Mr. Esti Wertheimer
  • Mr Yeshai Topel
  • Mr Itzhak Cohen
  • Mr. Shlomo Rabinowitz
  • Mr. Nissim Gil
  • Mr. Rafi Yerushalmi



The exchange has several committees that regulate the trade and common activities of the diamond traders. It also serves as a tribunal in commercial disputes and as a disciplinary court for members of the exchange .The trading hall is still the pulse of the trade even though most deals take place in the privacy of the offices all over the four buildings.






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