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Antwerp, Belgium – June 16, 2014: The World Diamond Mark® Foundation (WDMF) signed a Memorandum of Understanding (MoU) with Borsa İstanbul of Turkey to implement the programmes of the World Diamond Mark in Turkey. The MoU was signed by WDMF Chairman Alex Popov and by Dr. Ibrahim M. Turhan, Chairman and CEO of Borsa İstanbul. Borsa İstanbul is one of the 28 bourses worldwide affiliated to the WFDB.
The signing ceremony, held during and on occasion of the 36th World Diamond Congress in Antwerp, followed many months of negotiations and preparations between the two organizations and marks the start of the World Diamond Mark (WDM) launch in Turkey.
“With the Borsa İstanbul as a partner, the World Diamond Mark will gain strong, internal support for reaching out to key organisations and retailers in Turkey,” Popov said. “In practical terms, it means that the WDM’s first pilot programme for accredited retail members, i.e. Authorized Diamond Dealers (ADDs) will begin in Turkey, one of the most exciting, and rapidly growing luxury product consumer markets.”
“We’re very honored to cement this relationship with the WDMF here in Antwerp, during this top networking event of the international diamond industry and trade,” Dr. Turhan noted. “The planning of our joint promotional activities will start with a possible roll out in late 2014/early 2015. Therefore, this MoU is significant step toward the proliferation of the WDM programmes in Turkey. Borsa İstanbul and WDMF both seek to sustain and improve consumer confidence for diamond and diamond jewellery worldwide. We look forward to advance WDMF’s main objective, i.e. to accredit retailers and multiply the sales in diamond markets,” he stated.
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| About Borsa İstanbul
Borsa İstanbul, through its subsidiaries (Takasbank and MKK – the Central Securities Depository Agency), is the sole provider in Turkey, of trading, settlement, custody and registry services for a wide range of products such as equities, debt securities, repo, warrants, options, futures, certificates and ETFs. Via a major reform in 2012 consummated by the new Capital Markets Law enacted in December 2012, Borsa Istanbul successfully completed its de-mutualization and privatization, as well as horizontal integration via acquisition of the derivatives and precious-metals exchanges, and vertical integration via control of the two domestic post-trade firms, with a strengthened regulatory backdrop in terms of enhancements in transparency and investor protection. For further information, please visit Borsa Istanbul at www.borsaistanbul.com
About the WDM
The WDM’s global objective is to ensure the health and future growth of the diamond and jewelry industry in the luxury market sector. It is based on three fundamental principles: the education of jewelry retailers about diamonds; confidence building among consumers with the WDM accreditation program; and the creation of a generic marketing program to promote diamonds and diamond jewelry, based on the Authorized Diamond Dealer® concept. The World Diamond Mark® is a not-for-profit foundation, incorporated in Hong Kong.
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