Further down the supply chain, members of The World Federation of Diamond Bourses (WFDB) act as a medium for wholesale diamond exchange, trading both polished and rough diamonds.

As president of the World Federation of Diamond Bourses, in 2002 Mr. Fischler agreed that reforms were necessary, but emphasized that diamonds were not the only commodities being traded by rebels.

For this reason, when India applied to join the World Federation of Diamond Bourses in July 1986, Moshe Schnitzer said Israel was against admitting India.

Schnitzer was also the President of the World Federation of Diamond Bourses (WFDB) from 1968 to 1972, and from 1978 to 1982.

The World Federation of Diamond Bourses, founded in 1947, was created to provide bourses trading in rough and polished diamonds and precious stones with a common set of trading practices.

Members of The World Federation of Diamond Bourses (WFDB) act as a medium for wholesale diamond exchange, trading both polished and rough diamonds.

"The industry has opened up in many, many ways," said Mr. Hass, who was recently elected vice president of the World Federation of Diamond Bourses, an international association of diamond organizations.

The World Diamond Congress is an organization made up of representatives from the World Federation of Diamond Bourses and the International Diamond Manufacturers Association.

It is one of the 25 exchanges in the World Federation of Diamond Bourses.

Schnitzer served as the President of the World Federation of Diamond Bourses (WFDB) (2002-2006).