DUBAI, 15 January 2007 — The C5 Conference, organized by the Dubai Diamond Exchange (DDE), launched the WFDB Mark and the Diamond Confidence Kit for diamond traders in a day-long event held yesterday in Dubai.
This added a fifth “C” for “Confidence” to the traditional 4-Cs of diamond grading and quality standards; namely, color, cut, clarity and carat. The initiative was another step taken toward educating the diamond trade in the value of a membership with DDE which is a member of the World Federation of Diamond Bourses (WFDB), the international regulatory and trade body of the diamond trade.
Welcoming the diamond traders, Ahmed ibn Sulayem, deputy chairman, DDE, said “the theme of the C5 Conference revolves around the tools that are being developed to enhance confidence in the diamond industry — among both traders and consumers — as this is the value that the diamond trade is built on.”
He added that “the launch of the WFDB Mark and the Diamond Confidence Kit further reinforces DDE’s commitment to bringing international standards and best practices to the diamond trade in the region.”
Similar in concept to ISO certification, WFDB Mark allows DDE members to reinforce their commitment to WFDB Code of Business, promoting confidence in DDE members and diamond trade in the region. All members of the DDE are eligible for the WFDB Mark, which sets them apart as certified diamond traders who meet international standards. It is the first internationally regulated diamond-related confidence tool.
