Belgian Bourses Launching Quality Label for Traders

The Federation of Belgian Diamond Bourses is offering a quality label for diamond traders aimed at promoting a greater level of transparency in the sector and increasing confidence in trading between traders and with clients.

The Deontology Code is a set of regulations concerning integrity and the behaviour code among the diamond traders themselves and in their relation to their clients.

It requires traders to adhere to the highest professional standards, to report all proposed diamond deals, not to take advantage of the financial situation of colleagues, condemn child labour and comply with U.N. resolutions concerning diamonds from areas of conflict.

Each trader who is a member of one of the four Antwerp Diamond Bourses, subscribes to the Deontology Code and complies with its conditions is eligible to hold the title of a diamond trader certified by the Federation of Belgian Diamond Bourses.

The certified diamond traders will receive a letter of proof and they can use the logo of the Federation of Belgian Diamond Bourses as a quality label.

The launch of the quality label is a further step in securing recognition of the diamond trade as a profession, the HRD said. Diamond traders certified by the Federation of Belgian Diamond Bourses stand for guaranteed quality and ethics.

The quality label is part of a process that began in 2000.