Yoram Dvash, IDE President, will not run for third term in elections in December

Yoram Dvash, who has been President of the Israel Diamond Exchange (IDE) for the past five years, announced today that he will not stand for a third term in elections that will be held in December 2020. Dvash said that he will continue his role as President of the World Federation of Diamond Bourses (WFDB), to which he was elected in September 2020.

During his tenure as President of the Israel Diamond Exchange, Dvash implemented many reforms in an effort to increase transparency and accountability, and spearheaded significant regulatory changes for the industry. He negotiated a watershed agreement with the Israel Tax Authority, and worked with the highest levels of government to enhance the industry’s position in regulatory measures.

Dvash was also instrumental in the building of a digital platform for international diamond trading - Get Diamonds - which has recently become the official e-commerce platform of the WFDB. Moreover, Dvash embarked on a major real estate project owned and developed by IDE, which is considered one of the largest such projects in Israel.

Dvash, 56, became Acting President of the WFDB in April 2020 and was officially elected President at the World Diamond Congress which was held digitally in September 2020.

"For the past five years I have been given the privilege of working for the members of the Israel Diamond Exchange during one of the most challenging, and important periods in the industry. I thank the IDE Board and its members for the trust they have placed in me and for allowing me to initiate, create and lead. I will be here to assist the next president and board as much as is necessary,” Dvash said.

The Israel Diamond Exchange, one of the world’s leading diamond centers, encompasses more than 1,100 Israeli companies that specialize in the trade of rough and polished diamonds and the manufacture of large polished stones, which are exported to markets around the world.

The World Federation of Diamond Bourses (WFDB) is an association of 30 diamond bourses from around the world. It was founded in 1947 to unite diamond exchanges under one roof and provide a common set of practices for trading in rough and polished diamonds.