IDE Turns Cold Shoulder to Synthetic Diamonds
March 25, 04
The Israel Diamond Exchange decided this week to ban trading in synthetic diamonds in the Exchange declaring that IDE members may not trade synthetic diamonds.
IDE President Shmuel Schnitzer says today “There is no doubt that we must take a firm stand against synthetic diamonds. These are imitations, and must not be handled by members of the legitimate trade.
“For hundreds of years our industry has produced, manufactured and traded only genuine diamonds - among nature's rarest treasures. The Israel Diamond Exchange is the first of the world's exchanges to officially ban synthetic diamonds.”
Schnitzer, who is also the President of the World Federation of Diamond Bourses, noted that the subject of synthetic diamonds would be on the agenda of the next World Congress of Diamond Bourses to take place in October 2004.