WFDB Denies It’s Affiliated with Asian Bourse 

Rough diamonds image

The World Federation of Diamond Bourses (WFDB) has rejected a statement the Philux Global Group made claiming it has a connection with the Asian Diamond Exchange.

The federation explained that the claims derive from Philux, a Luxembourg group of bank funds, which is trying to raise public investment for the Asian Diamond Exchange, WFDB said Monday.

On its website, the group says the project will be a “modern bourse to be organized in affiliation with the World Federation of Diamond Bourses (WFDB), that is fully compliant with the Kimberley attestation process.”

The center will consist of lab-grown diamond-manufacturing facilities and lab-grown and polished-diamond trading centers in Vietnam, the site explains. It also compares the new bourse to the Israel Diamond Exchange (IDE), the Bharat Diamond Bourse (BDB), the Antwerp diamond exchange and the Dubai Diamond Exchange (DDE).

The WFDB, founded in 1947, is the official association of diamond bourses internationally, representing 27 diamond exchanges throughout the world, it noted.

“While the WFDB encourages the establishment of new diamond bourses and aids and supports bourses in their early stages, the Asian Diamond Exchange has not asked to be affiliated with the WFDB, nor has it contacted the federation at any time,” the umbrella group added.

Image: Rough diamonds. (Shutterstock)

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WFDB Denies It’s Affiliated with Asian Bourse 

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