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Opinion

The World Diamond Council (WDC) was formed in 2000 to represent the diamond industry in the Kimberley Process Certification Scheme (KPCS). However, over the years, the scope of the organization’s activities have expanded to serve several additional functions, mainly advocating for the industry at large.

Just as there is no diamond business without diamond miners or jewelry stores, there is no diamond industry without diamond manufacturers, the people who polish diamonds. Like many other business sectors, diamond manufacturers also opted to organize and form an association, in this case, the International Diamond Manufacturers Association (IDMA).

The World Federation of Diamond Bourses (WFDB) was founded in 1947 to unite diamond exchanges under a single umbrella and provide a common set of trading practices and rules for diamond bourses around the world. These practices cover trading in rough and polished diamonds as well as colored gems.

Diamond Portraits: Freddy Hager

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London Diamond Bourse President Freddy Shalteel Hager was a central figure in the diamond industry for many years. Born in October 1948, in post-war Britain, his start was humble. He graduated from University College London in 1972 with a degree in economics and moved to Israel to learn the diamond business. At first, he was not sure he really wanted to work with diamonds, but after he learned how to sort and grade small diamonds, he changed his mind.

George Robert Crowningshield may not be a household name to many in the diamond industry, however he is responsible for a number of important discoveries that impact nearly everyone in the trade. Key among them were techniques in detecting diamond fraud. He was also instrumental in establishing what are known as the 4Cs.

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