IDMA to host International Banking and Services Conference

The International Diamond Manufacturers Association (IDMA) is planning to host an international conference of diamond industry bankers and service providers, announcing its intent during its Presidents' Meeting recently held in Antwerp, Belgium. The meeting will ensure that all players in the diamond supply pipeline implement sound and sustainable credit and business practices.

According to IDMA President Moti Ganz, the organisation, which is the representative body of the world's diamond manufacturers, seeks to facilitate an open exchange of views to create a sustainable diamond supply pipeline that should ensure a stable and viable long term growth of the diamond industry. He added, "The current economic crisis has made it apparent that we're living in a different world where new rules apply. Therefore, it is important that we organise a high-level conference with the banks -- our financial partners and credit providers -- to discuss what new financially sound business models we need to implement," the IDMA President stated.

IDMA urges the diamond industry's financial institutions to continue their support for the diamond industry and their clients based upon sound and transparent business practices, to enable the industry sustain the economic crisis.