IsDMA and Israeli Banks meet to discuss credit facilities

Israel Diamond Manufacturing Association (IsDMA) management has conducted a series of meetings with the most senior figures in the Israeli banking system to expand bank credit available to the Israel diamond industry. The financial robustness of the diamond industry and the need to follow clear credit procedures along with reinforcement of close ties of the industry with the banking system will be highlighted.

The meetings held between IsDMA and four leading Israeli banks: Union Bank, Bank Leumi; First International Bank of Israel (FIBI) and Mizrahi Bank. David Granot, CEO of FIBI told IsDMA of the Bank intention to expand its branch within the Diamond Exchange complex in Ramat Gan.

In the recent December meeting with Mizrahi Bank, Eliezer Yones said: "�the Bank is moving its LA branch to New York, as part of its international expansion plans. This step will therefore enable us to enhance our activities with diamantaires. In addition, we will favorably consider increasing the amount of credit available to the industry in Israel.