WFDB Moves to Improve Consumer Confidence - April.2005
The World Federation of Diamond Bourses continues to work on
developing a trademarked logo to ensure that the WFDB abides by "better
business" principles.
The WFDB trademarked logo would be displayed by approved members of the
WFDB-affiliated diamond exchanges to ensure their suppliers and clients that
they meet strict business and ethical standards that are being created by the
organization.
The development of the WFDB mark is part of a plan first introduced by WFDB
president Shmuel Schnitzer in 2004. The plan involves the accreditation
of individual members of affiliated diamond exchanges ethical standards. The
move aims to improve consumer confidence in the diamond industry.
The WFDB's executive committee also issued a statement in regard to gem
quality synthetic diamonds, declaring that any member of a WFDB-affiliated
bourse found failing to disclose synthetics is liable to the most severe
disciplinary procedures as well as possible criminal sanctions.
Finally, the WFDB agreed to co-chair an industry-wide Consumer Confidence
Commission, with CIBJO, The World Jewellery Confederation. The joint
commission will be chaired by Ernest Blom, WFDB vice president. v
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