For the first time since its founding, the Israel Diamond Exchange held a joyous ceremony on Sunday to grant certificates to the new members who received final approval and were accepted as full members.



IDE president Yair Sahar called the first ceremony to accept new members in the organization's history "a special holiday". Sahar thanked the chair of the committee who granted the final approval, Ben-Zion Sasso, for his important initiative. Committee member Arik Bauchman facilitated the event.



Sahar presented two different approaches for accepting new members to the IDE. One approach says that during hard times, the acceptance of new members should be reduced or stopped outright in order not to increase competition. The other approach says that new members should be accepted and to allow the forces of the marketplace to do their will. Sahar said that he supports the second approach and noted that it may be that his own membership is a result of it, since he joined the IDE during the 1980s, also a difficult time period.



Sahar emphasized the ways that the IDE advances the diamond trade, including the public auctions of rough diamonds by four firms – Alrosa, Ediamond, Fusion and Diamdel, who were the first conduct these in Israel. Sahar also spoke of Israel Diamond Week, which will take place during the first week of December in New York City, as a result of cooperation between himself and DDC president Reuven Kaufman. Sahar called upon the new IDE members to take part in echange activities, including these.



"The world of diamond opens up many opportunities," Sahar said. "All of us should proceed with our heads held high. We industry leaders are doing everything in order to give you the tools. Please use them."