An abridged version of this article first appeared in the JNA July/August 2023 issue.  

World Federation of Diamond Bourses (WFDB) President Yoram Dvash has a long list of significant accomplishments that effectively steered the international diamond business to new levels of growth.

Dvash held leadership positions in the Israeli diamond sector throughout his illustrious career, including president of the Israel Diamond Exchange (IDE) and chairman of the Israel Diamond Institute, before becoming WFDB president in 2020.

As WFDB president, Dvash was instrumental in establishing GET-Diamonds, the bourse’s global B2B trading platform for polished diamonds.

Meanwhile, as IDE president, he supported a ground-breaking deal between the Israeli diamond industry and B2C digital retailer James Allen. He also negotiated a historic agreement signed by IDE and Israeli tax authorities, which effectively changed the way diamantaires in Israel are taxed - bringing about full transparency and further strengthening the relationship between the bourse and the Israeli government.

Dvash also led the opening of relations with the Dubai Diamond Exchange (DDE) immediately after the historic Abraham Accords were signed. This was followed by the opening of IDE and DDE representative offices in Dubai and Israel, respectively. 

“I am proud of my role in establishing diamond trade relations between Israel and Dubai. Upon the signing of the Abraham Accords between Israel and the United Arab Emirates in 2020, we were the first economic branch to forge an agreement between our bourses. Today, 60 per cent of the Israeli-Dubai bilateral trade is in diamonds, amounting to over US$1 billion,” shared Dvash.

Another feather in his cap as IDE president was the negotiation for expanded building rights for the bourse, which totalled 750,000 square meters, to build a new, state-of-the-art diamond exchange.  

Dvash is also a strong advocate for diamond traceability and sustainability. He has likewise taken the lead in social welfare initiatives such as the Diamond Aid campaign in 2021 to raise funds for Covid vaccinations for Indian diamond workers.

As WFDB president, Dvash said he will continue to strengthen industry-wide transparency, traceability and sustainability efforts and support small- and medium-sized players amid economic uncertainties.

Dvash has been president of WFDB since 2020. He served as chairman of the Israel Diamond Institute from 2020 to 2021 and IDE president from 2015 to 2021.
 

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