Israel Diamond Exchange (IDE) President Shmuel Schnitzer presented a detailed report on the activities and the various committees' work during the past year and plans for the future; before the annual meeting: a special Assembly to change the bourse's charter.
The 65th annual general meeting of the Israel Diamond Exchange took place yesterday (Tuesday) in the rough trading hall in the presence of exchange President Shmuel Schnitzer, President of the Israel Diamond Manufacturers Association (IsDMA) and Acting IDE President in the absence of Schnitzer, Jacob Korn, members of the presidency and the management of the exchange, Diamond Controller Shmuel Mordechai, Honorary President of the exchange, Avi Paz, board member representing tenants of the diamond exchange, Yitzhak Berman, President of the Israel Precious Stones and Diamonds Exchange, Shlomo Eshed, and many members of the exchange. IDE General Manager Moti Besser led the meeting.
Before the AGM, members heard from Legal Affairs Committee Chairman Meir Dalumi about changes to the IDE's charter that the IDE management had approved and were now being brought to the AGM for approval.
The changes include increasing guarantees, giving honorary membership of the exchange, increasing the number of arbitrators to 90 from 70 and formally stating their positions as well as other matters. All the changes were approved.
The AGM started with a minute's silence for members who have died over the past year, with Shmuel Schnitzer reading out their names.
Honorary President of the IsDMA, Shlomo Yuval recited a blessing for the opening of the meeting. "Our strength is our unity and I welcome the unity that exists today between the heads of the diamond sector. The economic situation in the world is not wonderful, so we need to act in close cooperation for the future of the Israeli diamond industry. I thank the members of the Tax Committee for their work in the past year, and wish everyone a fruitful year."
Avi Paz congratulated members and the "wonderful work done by Shmuel Schnitzer over the past year to rehabilitate the sector and I am sure he is taking us on the right path. I congratulate the heads of the different industry bodies for working together. There is a good atmosphere and that will help us overcome the issues that face us."
Kobi Koren said: "This is not a great time for the industry and we need big efforts in several areas to bring the sector fully back to life, including the issues of tax, industry financing and manufacturing in Israel. Let us work together to achieve this."
Mordechai said his office had carried out many widespread changes in the past year in import-export, releasing goods to shipping firms which had made operations easier for IDE members. He praised Schnitzer's work and that of the other members of the presidency and the idea of the new manufacturing center."
Similar comments were made by Yitzhak Berman and Shlomo Eshed regarding their specific fields of activity.
