Yoram Dvash to Step Down as Israel Bourse Head

RAPAPORT... Israel Diamond Exchange (IDE) president Yoram Dvash will not run for a third term, choosing instead to focus on his leadership position at the World Federation of Diamond Bourses (WFDB).Elections for the IDE presidency are due to take place in December, the bourse said Wednesday. Dvash, who has headed the exchange since 2015, became acting president of the WFDB in April, and was elected fully to the position last month. "For the past five years, I have been given the privilege of working for the members of the Israel Diamond Exchange during one of the most challenging and important periods in the industry," Dvash said. "I thank the IDE board and its members for the trust they have placed in me and for allowing me to initiate, create and lead."Dvash, the founder of Israel-based Y. Dvash Diamonds, played a major role in the creation of Get Diamonds, a digital trading platform for the industry. He also negotiated a key agreement with the Israel Tax Authority in 2016 that exempted companies from paying tax if they incurred losses. Image: Yoram Dvash holding the 813ct. Constellation rough diamond in 2017. (Yankele)