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Dvash owns Y. Dvash Diamonds in Ramat Gan and is president of the Israel Diamond Exchange.
The executive committee of the World Federation of Diamond Bourses elected Yoram Dvash as acting president in a meeting held via Zoom. Dvash owns his own diamond company in Israel and is serving his second three-year term as head of the Israel Diamond Exchange.
Antwerp, Belgium—Israeli diamantaire Yoram Dvash has been elected acting president of the World Federation of Diamond Bourses.
He takes over for Ernie Blom, who is temporarily stepping aside after nearly a decade.
Dvash is owner of manufacturing and trading company Y. Dvash Diamonds Ltd. and is currently serving his second three-year term as president of the Israel Diamond Exchange.
He is also on the WFDB executive committee.
The WFDB said the committee confirmed Dvash’s election at a meeting held via Zoom, after already naming him president designate at a previous meeting.
In the statement announcing his election, Dvash emphasized the diamond industry’s need to stick together during COVID-19, which has “struck so much devastation in human, as well as business, terms across the world.”
He also mentioned the new WFDB online diamond trading platform launched after hundreds of dealers pulled their goods off RapNet in a price-cut protest.
It is called Get Diamonds and is based on the platform of the same name created by the Israeli Diamond Institute. WFDB purchased the platform earlier this month and upgraded it, aiming to make it a direct competitor to RapNet.
“The WFDB is at a very historical moment as we have only recently launched the diamond trading platform Get Diamonds … It is a time when it is absolutely essential for the diamond industry to stand together like never before to ensure the welfare of the entire diamond industry,” Dvash said.
The Rap list remains suspended until May 1.
Blom served as WFDB president for eight years.
His departure comes at a time when he’s involved in a legal dispute with a member bourse, the Dubai Diamond Exchange.
Blom did not respond to National Jeweler’s request for comment on his resignation by deadline but he told JCKOnline the litigation is only part of the reason he’s stepping down. He also feels it is time to move on to “other interests.”
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