New IDE President Shmuel Schnitzer Speaks of Plans

Newly elected Israel Diamond Exchange (IDE) President Shmuel Schnitzer has spoken of his plans and aims in his first interview following the October 9 election.

Schnitzer said the election campaign had been "difficult, tense, and dragged out too long; we must find a way to shorten the election process in the future," in the interview with the bourse's video channel.

Speaking of the main challenges, he said the first issue would be to arrive at a comprehensive solution with the Israeli tax authorities. "The current situation has lasted two years, and that is too much. This situation does not need an aspirin but a proper treatment."

                      

 

Another crucial issue is bank financing. He would try to persuade Bank Leumi not to exit diamond company financing, as well as bringing in other players. A third critical issue is manufacturing, and he said he was committed to creating at least the essence of a manufacturing sector in Israel.

Schnitzer said he would use his excellent relationships with the World Federation of Diamond Bourses as well as other bodies and leaders around the world to help the IDE.

Speaking about bourse members elected to its management, he said he could not have wished for better results. "There are 2-3 other people that I would have liked to see elected, but I will be using their experience and knowledge, as well."

Concluding, he said he was looking forward to the challenges of the presidency which he said would strengthen him and the bourse overall, and that he had already started holding meetings.