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The Antwerp Diamond Bank (ADB), a fully owned subsidiary of the KBC Bank, announced its 2012 financial results, indicating the bank is adequately positioned for the future. The ADB is the only bank in the world that exclusively caters for the diamond and diamond jewellery industry.
The ADB states that after an extremely volatile 2011, 2012 was a less eventful though difficult year for the diamond and jewellery industry. The main economic indicators reflected an unstable business climate with the Asian economies struggling with a slowdown. The price balance between rough and polished diamonds was cumbersome to restore, putting the profitability of the trade and manufacturing industry under constant pressure.
In this difficult economic environment the bank applied a conservative and selective credit policy aimed at optimal allocation of capita land improved quality of the credit portfolio. This resulted in a balanced growth of advances to customers (+7%) and limited write-offs on the performing portfolio.
On account of capital efficiency as well as in view of optimizing the treasury management, other assets, such as securities and advances to banks, were reduced. As a consequence the balance sheet total remained stable.
Partly as a result of the higher margins, especially on the Indian market, interest income (+10%), the operating profit (+11%) and the net profit (+152%), all soared, despite onetime costs and depreciations.
With a capital ratio of 10.05% which amply meets the current international norms, notwithstanding a stricter calculation method, and a second consecutive increase in market share in the international diamond financing, the bank concluded it is adequately positioned for the future.
According to Indian newspaper Daily Bhaskar, a large amount of diamonds destined for Belgium was stolen at the airport in Mumbai, India.
The newspaper reported a private transport company pressed charges with the Mumbai police department when they noticed one of the 24 diamond packages was missing. The stolen package is worth about 45 milion rupees or 630 000 euro and was destined for Belgium. According to the Indian newspaper Daily Bhaskar, the package was stolen during the loading process.
The newspaper also stated that the police arrested a suspect on Sunday.
Airport officials claim that nobody, except the airport staff, could have had access to the highly secured area.
Caroline De Wolf, spokesperson AWDC: “We were informed about the robbery. We don’t know which company the package was headed to, but we have confirmation the authorities at the Mumbai Airport have initiated an official investigation.”
On May 23rd 2013, Antwerp World Diamond Centre launched the long-awaited jobtool ‘Antwerp Diamond Jobs’. Antwerp Diamond Jobs is the first jobsite targeted specifically at the Antwerp diamond industry.
Ari Epstein, CEO Antwerp World Diamond Centre: “In 2012, AWDC launched it new strategic plan. One of the main topics in this plan is to maintain and reinforce employment in the Antwerp diamond industry. We noticed that people are not really looking for jobs in a specific diamond company, but they are rather searching for a job in the industry in general. With over 1800 registered diamond companies in Antwerp, it is very difficult to find an overview of all relevant vacancies in our industry. Furthermore, this initiative will not only make it easier to find a job, but it will also help the diamond companies in their search to find suitable employees. All diamond companies will be able to post their vacancies online, free of charge. Experienced applicants or people interested to work in our brilliant industry, can consult the listed jobs and apply immediately. ‘Antwerp Diamond Jobs’ will connect potential candidates directly with the companies who post their vacancies.”
In addition, applicants will have free access to the full list of actual vacancies in the Antwerp diamond industry. Potential candidates can also upload and edit their personal profile online.
Ari Epstein, CEO Antwerp World Diamond Centre: “On a yearly basis, we expect to post an average of 150 job openings online. In regard to jobs, the Antwerp diamond industry is surprisingly diverse. Diamond companies are not only looking for diamond polishers or diamond graders, they also need administrative personnel, marketing profiles, IT employees and much more.”
Antwerp Diamond Jobs (www.adjobs.be) was launched in the presence of Marc Van Peel, Alderman for employment in Antwerp and Ludo Van Campenhout, Alderman for diamonds in Antwerp were also present during the launch.
Marc Van Peel, Alderman for employment in Antwerp: “Matching supply and demand, can be very difficult and challenging in certain industries. Considering the economic importance of the Antwerp diamond industry cannot be underestimated, I am delighted AWDC launches the jobsite ‘Antwerp Diamond Job’s. Initiatives like this will help to solve the labor market paradox.”
Visit the website via www.adjobs.be
On March 23rd, the European Commission (EC) launched a Public Consultation on conflict minerals aimed to gather the visions on the matter of all relevant parties. The EC is looking into the set-up of a legal initiative regarding mineral sourcing from conflict-affected regions, for example the Democratic Republic of Congo and its neighboring countries.
Although this Public Consultation focuses on minerals and not diamonds, it concerns a subject that is close to the hearts and minds of the diamond sector. Therefore, AWDC will proactively follow-up on this topic.
More information can be obtained through the Public Affairs department via public.affairs@awdc.eu.
The Public Employment Service of Flanders (de Vlaamse Dienst voor Arbeidsbemiddeling or VDAB) published its new ‘occupations in demand’ listing for the year 2013. Just like last year, ‘diamond polisher’ is one of the occupations on the list.
The Antwerp Diamond Masterplan puts a strong emphasis on education in order to ensure a sustainable influx of new diamond polishers. The diamond sector and her partners committed themselves in this strategic plan to create more jobs in the diamond sector itself and in closely related sectors by 2020.
Stemming from that vision, in 2012, the diamond sector organised a free course in basic diamond polishing. As a result, 11 new diamond polishers are currently employed. In September of this year, the initiative will be repeated, in collaboration with, amongst others, the ‘Fonds voor de Diamantnijverheid’.
In addition, AWDC will shortly launch a dedicated jobsite, Antwerp Diamond Jobs, designed to connect diamond companies more directly with job seekers.
The full ‘occupations in demand’ list can be found here.
The Financial Action Task Force (FATF) announces that registered diamond dealers must implement enhanced customer due diligence measures when transacting or doing business with customers or companies that are domiciled or established in one of the following 15 jurisdictions: Iran, Democratic People’s Republic of Korea, Ecuador, Ethiopia, Indonesia, Yemen, Kenya, Myanmar, Nigeria, Pakistan, São Tomé and Príncipe, Syria, Tanzania, Turkey, Vietnam.
In its public statement of February 22, 2013 the FATF has identified 15 jurisdictions that pose a significant risk to the international financial system due to the lack of a comprehensive AML / CFT regime. Among the list are two jurisdictions for which the FATF insists counter-measures should be taken (Iran and the Democratic People’s Republic of Korea).
This statement implies that diamond dealers, subject to the Law of 11th January 1993 (the anti-money laundering law) must implement enhanced customer due diligence measures with respect to the transactions or any other business relations with customers who are domiciled or established in any of these countries.
More specifically, the statement concerns the following 15 countries: Iran, Democratic People’s Republic of Korea, Ecuador, Ethiopia, Indonesia, Yemen, Kenya, Myanmar, Nigeria, Pakistan, São Tomé and Príncipe, Syria, Tanzania, Turkey, Vietnam
Furthermore, as part of the ongoing review of compliance with the AML / CFT standards, to date, the FATF has ascertained and identified those jurisdictions that have strategic AML / CFT deficiencies for which they have developed an action plan in collaboration with the FATF.
In that respect, diamond dealers are requested to take into account the specific risks linked to the following countries, in regard to risk assessment: Afghanistan, Albania, Algeria, Angola, Antigua en Barbuda, Argentina, Bangladesh, Bolivia, Brunei Darussalam, Cuba, Cambodia, Kyrgyzstan, Kuwait, Morocco, Mongolia, Namibia, Nepal, Nicaragua, Philippines, Sudan, Sri Lanka, Tajikistan, Thailand, Zimbabwe.
The complete announcement can be found here.
For further details on the deficiencies of each of these jurisdictions, we kindly refer tot this document.
AWDC is currently developing a jobsite, targeted specifically at the diamond industry: Antwerp Diamond Jobs. Starting from Thursday May 23rd, Antwerp Diamond Jobs will be online. Make sure to visit us at the AWDC tent in front of the AWDC offices on May 23rd and be the first to discover AWDC’s new jobsite!
The purpose of Antwerp Diamond Jobs is to create a site where all vacancies in the diamond industry are collected and accessible for potential candidates, making your quest for specific and competent employees a lot easier.
All diamond companies will be able to post their vacancies online, free of charge. Applicants with experience or an interest in our brilliant industry can consult the listed jobs and apply immediately. Vacancies within AWDC will also be posted online.
If you are looking for personnel, be sure to send your job posting(s) to eliane.clement@awdc.be or contact us on 03 222 05 10 and we will post them online for you!
AWDC wishes to purchase following stones to support local campaigns.
2 round 0,50 ct, F – H, VVS2
If you have such stones please contact Kim Timmermans by sending an e-mail to kimtimmermans@awdc.eu before Thursday May 23th.
We are looking for the best price-quality.
