President of the Israel Diamond Bourse, Yoram Dvash, was yesterday unanimously elected as the acting president of the World Federation of Diamond Bourses (WFDB) as Ernie Blom has temporarily resigned from the post.
Letters attained by press reveal Blom, who has held his post for eight years, writing: “Due to medical, family and personal reasons I am unfortunately temporarily unable to continue in office as president at this point, therefore I need to step aside for a period of time.”
According to a report by JCK, the resignation comes shortly after Blom’s company, Ernest Blom Diamonds, has been involved in a litigation with a WFDB-member hourse, the Dubai Diamond Exchange, in a dispute over the jurisdiction of an arbitration.
Yoram Dvash’s election took place at a meeting of the executive committee of the WFDB held via Zoom. Dvash had already been named president designate at a previous Congress of the WFDB.
“The diamond industry like all other industries is going through a very difficult time due to the coronavirus pandemic that has struck so much devastation in human, as well as business terms, across the world,” shares Yoram Dvash. “In this situation it is imperative that the diamond industry across the world be united in the goal to restore it to its glory days, once the pandemic has receded and some semblance of normalcy returns to the globe.”
“The WFDB is at a very historical moment as we have only recently launched the Diamond Trading Platform, Get Diamonds, which has already become the largest such platform,” adds Dvash. “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.”