Ramat Gan, Israel–Members of the Israel Diamond Exchange have elected Yoram Dvash to another three-year term as president.
The election took place last week in Ramat Gan, Israel, alongside elections for the IDE’s board of directors and members of its Control Committee. A total of 16 new board members were elected.
In his first term as IDE president, Dvash negotiated a new agreement with the Israeli Tax Authority, instituted the bourse’s first ethical code and made changes to the arbitration system, making it so a retired district court judge is brought in to handle disputes totaling $400,000 or more.
He also established the bourse’s International Tender Center, set up an e-commerce wing in the bourse, established two new polishing centers for large diamonds at the IDE and inaugurated an Innovation Center, which hosts diamond industry start-ups.
On his Facebook page, Dvash thanked bourse members for their support and noted: “The elections are behind us, and it’s time to get back to work. In the next few days we will meet to plan our activities, fill positions and work diligently to promote our industry.”