AWDC informs banks at diamond financing seminar in Davos

In the margins of the World Economic Forum, the Antwerp World Diamond Centre set up a dedicated diamond-financing seminar in Davos, introduced by Flemish Minister President Mr Geert Bourgeois and attended by international financial institutions.

The initiative is part of a strategy to inform banks and key players in the financial sector on the specific dynamics and functioning of diamond financing.  Today, a mere 5% of global financial institutions is involved in the niche market of diamond industry financing.

Apart from providing seminar participants more information on the strengths of Antwerp as the world’s leading diamond trade hub and the underlying dynamics of the global diamond industry from mine to finger, the seminar discussed the future outlook and challenges ahead, especially in terms of sustainable diamond financing for the industry. Alongside these elements, AWDC also provided more insight into the growing demand for diamonds as an investment product and presented the initiatives AWDC is undertaking to boost this evolution.

Furthermore ABN-AMRO’s Sabine Smets, Head Belgium D&JC, international clients, elaborated on the future prospect of diamond financing from a bankers’ perspective, underpinning the importance of profitability and transparency as crucial elements in a changed diamond-financing paradigm.

The seminar was concluded by a networking event, allowing participants to discuss the potential of diamond financing further.