Global Gathering Celebrates Israel Diamond Exchange’s 70th Anniversary

Ramat Gan, 24 November, 2008: The Israel Diamond Exchange (IDE) celebrated its 70th anniversary last night at a gala event in the Mann Auditorium in Tel Aviv with the participation of large number of diamantaires from Israel and abroad.

Special guests included Israel’s Minister of Industry, Trade & Labor- Eli Yishai; Ramat Gan Mayor- Zvi Bar; DTC Managing Director- Varda Shine; Chairman of the World Diamond Council - Eli Izhakoff; CIBJO President- Gaetano Cavalieri and representatives from diamond exchanges in China, the U.S. and Europe.

Avi Paz, President of IDE and the World Federation of Diamond Bourses, thanked the many guests who came from all over the world, and said that their participation was a tribute to the importance of the Israeli diamond centre within the world diamond industry.

Maintain Optimism :

About the world economic situation, Paz said, “At this time we must maintain our optimism. What we achieved over the past 70 years did not come easily! Our industry has gone through difficult times as well as periods of huge success and prosperity. At this time it is especially important to act with determination, optimism and cool-headedness.”

In his remarks Paz called upon Minister Yishai to act immediately to ensure that the Government’s emergency economic plan provides solutions for diamantaires harmed by the world economic crisis.

Minister Yishai said that he would continue to do everything in his power to support the diamond industry. “Your leadership is a very special one – filled with wisdom, professionalism and modesty. You pursue your vocation with resoluteness and during this difficult time you are showing vision, determination and conviction. I believe in your abilities and I will always be at your service in all positions that I will hold,” he said.

Bank Support Assured :

Managing Director of Israel Discount Bank- Giora Offer said that the Bank would stand firm in its support to the Israeli Diamond Industry. “I believe that you will continue to act in times of crisis with ethics, credibility and loyalty. Israel Discount Bank, the largest bank in the finance of Israel’s diamond industry, stands beside you. Together we will get through this period with a great deal of appreciation and esteem for your achievements of which we are all proud.”

Varda Shine Honored :

One of the highlights of the evening was the bestowal of Honorary Membership in the Israel Diamond Exchange to DTC Managing Director- Varda Shine. Avi Paz said, “Varda Shine is a pioneer in the global diamond industry. She is the only woman in the history of IDE to receive Honorary Membership. Varda is an excellent professional, a keen businesswoman, and above all a true friend of the Israel Diamond Exchange and the entire Israeli Diamond Industry.”

Be Transparent, Clear & Strong :

Shine thanked Avi Paz and the IDE for this award. “It is a great honor for me to receive this title and I feel proud to be the first woman to hold it,” she said. “The Israel Diamond Exchange has all it needs to succeed. Thanks to your human capital, entrepreneurship and strength you will know how to continue your path forward. We must all learn from the diamond during this period – to be transparent, clear and strong,” she added.

Be Transparent, Clear & Strong :

Shine thanked Avi Paz and the IDE for this award. “It is a great honor for me to receive this title and I feel proud to be the first woman to hold it,” she said. “The Israel Diamond Exchange has all it needs to succeed. Thanks to your human capital, entrepreneurship and strength you will know how to continue your path forward. We must all learn from the diamond during this period – to be transparent, clear and strong,” she added.