The Antwerp World Diamond Centre organised what it called a “dedicated diamond-financing” seminar, last week, for financial institutions on the sidelines of the World Economic Forum held in Davos.  The introductory address to the seminar was made by Flemish Minister President Geert Bourgeois and was attended by representatives of 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,” a note from AWDC stated. “Today, a mere 5% of global financial institutions are involved in the niche market of diamond industry financing.”

The seminar informed participants about the strengths of Antwerp as the world’s leading diamond trading hub and the “underlying dynamics of the global diamond industry from mine to finger”. It also discussed the future outlook for the diamond industry and challenges to it in the coming years, especially in terms of sustainable diamond financing for the industry. AWDC provided an insight into the growing demand for diamonds as an investment product and presented the initiatives AWDC is undertaking to boost this evolution.

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 in an informal setting.