About IDI

In 1933, Aharon Ben Zvi Moritz began lobbying the British Mandate authorities to cancel customs duties on the import of rough diamonds. His efforts bore fruit in 1936, clearing the path for the establishment of the diamond industry in Israel.

In 1937, two home polishing businesses were opened in Tel Aviv. That same year, the “Diamond Club” was established in the home of Akiva Arie Weiss on the corner of Herzl and Ahad Ha’am in Tel Aviv. The original building still stands.

During WWII, Oved Ben Ami travelled to London and succeeded in motivating De Beers, by then the biggest supplier of rough diamonds in the world, to ship rough diamonds to Israel.

In 1939, the first polishing factory was established in Netanya, which would later become the “city of diamonds”. That same year, four diamond factories were active in Tel Aviv.

In 1940, the Israel Diamond Manufacturers Association (IsDMA) was established. During these years, the industry was characterized by big factories, each employing between 100 and 200 employees. The owners were businessmen and the factories were managed by professionals in the field.

In 1944, the Association for Polished Diamond Exporters in Eretz Israel was established, and the “HaYahalom” magazine and the first educational book about diamonds were published.

In 1945, immediately following the Second World War, prices of polished diamonds dropped by as much as 50%. Many diamantaires suffered significant losses.

In 1946, the Diamond Exchange Inc. was established, and most big diamond factories in Israel were closed. The more established factories asked De Beers for supply of rough, while new factories, reorganized in groups of 10-15 workers, started buying rough in the open market.

In 1947, the bourse and the Diamond Club moved to a building in 3 Ahuzat Bait St., Tel Aviv. A year later, the bourse, the Diamond Club and the Association for Development of the Diamond Trade merged. The new organization numbered 800 members.

In 1950, following the War of Independence, the industry stabilized. The manufactures who received allotments of rough diamonds from De Beers re-organized. Veteran workers and some professional managers entered the industry on a contract basis, established small factories which employed a small number of workers, and cut expenses to compete with companies that received rough supply from the C.S.O (De Beers’ Central Selling Organization).

In 1951, the Israeli Diamond Exchange (IDE) joined the World Federation of Diamond Bourses (WFDB).

In 1955, the Israeli government established diamond polishing factories in development towns. In 1956, the World Diamond Congress (WDC) was held in Israel for the first time. By the end of the decade, Israeli diamond production and exports were responsible for a sizable part of overall Israeli production and exports.

The Israeli government negotiated with De Beers on rough allocations, and a special governmental branch was established for the purpose. In 1959, the first shipment of rough diamonds arrived from Africa, and De Beers resumed its rough diamonds supply.

In 1961, an agreement was signed between the government and industry representatives and the C.S.O. (De Beers’ Central Selling Organization), which guaranteed Israel a direct supply of rough diamonds, and provided the Israeli industry with control over the global melee production.

In 1965, Moshe Schnitzer was awarded “The Outstanding Exporter” prize by the government – the first time a diamond company won the award. Diamond factories opened in development areas, and the Association of Diamond Manufactures in Israel and the Organization of Diamantaires in Israel merged.

In 1967, the Israel Diamond Institute (IDI) was established by the Israeli government, diamond industry organizations, banks, and Israel’s organization of trade unions, to promote the interests of the diamond industry in various areas, such as research and technological development, marketing, and the advancement of professional training and security. Along with the creation of the IDI, “HaYahalom,” a magazine devoted to the industry, was also established.

In 1968, the Israel Diamond Exchange (IDE) moved to Ramat Gan, and the Shimshon Building became the first in the world to unite all services under one roof. That same year, Israel hosted the 15th World Diamond Congress. Moshe Schnitzer, President of the Israel Diamond Exchange (IDE), became the first Israeli to be elected President of the World Federation of Diamond Bourses (WFDB).

In the first half of the 70s, diamond trade flourished and the industry thrived. In 1973, the Israel Precious Stones and Diamonds Exchange was established as a private association of businesses owners.

In 1974, the first conference of the national union of diamond workers took place. In 1977, exports of polished diamonds from Israel exceeded the $1 billion mark for the first time. That same year, the Israel Diamond Institute (IDI) established the Israeli Gemological Institute.

In 1978, the Maccabi Building – the second building of the Diamond Exchange complex – was inaugurated. That same year, the Israel Jewelers Association was established, as well as NILA, the volunteer organization for women jewelers. The Israeli diamond industry hosted the International Congress of Diamantaires.

In 1979, the Association for the Promotion of Diamond Manufacturing in Israel was established, and the Diamonds Inspection Order for the import, export and regulation of the diamond trade was amended.

Also during the 1970s, an automatic polishing machine was developed and the mechanical “dop” was introduced. Additionally, the polishing of small diamonds shifted to India, and very small diamonds were no longer polished in Israel

Toward the end of the 1970s, the diamond industry was negatively impacted by the economic recession and high inflation in Israel

The beginning of the 1980s was marked by a crisis in the industry. Many factories closed and thousands of workers left the industry. The crisis led to a structural change in the diamond industry, and large polishing factories were replaced by smaller facilities.

In 1980, a bridge between the Maccabi and Shimshon buildings was built, so that all vital services for bourse members were brought under one roof. In 1982, the restrictions on importing polished diamonds to Israel were lifted with the goal of expanding the variety of diamonds that Israeli diamantaires could offer for sale, including those that were not manufactured in Israel.

In 1985, women joined the Israel Diamond Exchange (IDE) as members. A year later, the Israeli diamond industry hosted the 23rd International Congress of Diamantaires, and inaugurated the Harry Oppenheimer Diamond Museum, which showcased the Israeli diamond industry.

In 1987, Israeli exports of polished diamonds exceeded the $2 billion mark. In 1998, the cutting machine CM1 was developed. It introduced laser splitting, which gradually replaced the traditional method of manual splitting.

In 1990, the Israeli Diamond Exchange (IDE) hosted the Presidents’ Meeting, and the Israel Diamond Institute founded the Technological Company IDT.

In 1993, a third building was inaugurated in the Diamond Exchange complex. The “Yahalom” Tower, a 39-storey building, included a bank and jewelry shops and is connected to the Shimshon Building via a bridge.

In 1995, the Israel Diamond Institute (IDI) inaugurated its new technological center for research and development in the diamond field.

In 1996, the Israeli diamond industry hosted the 27th International Congress of Diamantaires. It was the fifth time the Congress is held in Israel. At the same time, an international technological exhibition was held by the Israel Diamond Institute (IDI).

In 1997, for the first time, an international diamond exhibition was held in Israel. “Israel is the Source” was organized by the Israel Diamond Institute (IDI) and the Israel Export Institute, and featured the first-ever contest for diamond jewelry design.

Late in 1998, the Rough Trading Hall at the Israel Diamond Exchange (IDE) was inaugurated.

The end of the 1990s was characterized by a slump in the diamond industry, both in Israel and abroad.

In 2000, the 1st International Rough Diamond Congress convened in Israel.

In 2003, the Israel Diamond Exchange (IDE) was the first in the world to issue a Kimberley Certificate.

In 2004, the Israel Diamond Institute (IDI) established a center for marketing information, and the Israeli Diamond Industry Portal – the first ever website to focus on the Israeli diamond industry. That same year, the 1st International Jewelry Exhibition Jovella was held in Israel.

In 2006, the Israeli diamond industry hosted the 32nd International Diamond Congress; this was the sixth Congress to be hosted in Israel.

In 2008, the 3rd International Rough Diamond Congress convened in Israel, and the Diamond Museum was re-launched after a general remodeling.

2008 also marked the 70th anniversary of the Israel Diamond Exchange, a website for the IDE was launched, and a book titled “The Diamond in the Crown – The History of the Diamond Exchange” was published.

In 2009, ten more floors were added to the “Hayahlom” Tower.

In 2010, Israel became Chair of the Kimberley Process, and hosted two Plenary meetings of the Kimberley Process (KP).

In 2012, Israel hosted the CIBJO Conference for the first time. That same year, the Gemological Institute of America (GIA) opened its first Israeli branch.

In 2013, the Israeli Diamond Exchange (IDE) hosted the International Diamond Week for the first time.

In 2014, hundreds of diamond traders took part in the International Rough Diamond Week.

During the 2010s, the Israeli Diamond Exchange’s Code of Ethics was written by Professor Asa Kasher in collaboration with the appropriate IDE committees, and subsequently signed.

In 2014, an anti-money laundering law went into effect, and the Modern Manufacturing Center (MMC) was inaugurated. Later that year, the center held its first diamond polishing course.

In 2015, Israel hosted the joint session of the World Federation of Diamond Bourses (WFDB) and the International Diamond Manufacturers Association (IDMA). That same year, the Israel Diamond Exchange (IDE) hosted the first Blue & White Fair for Israeli traders.

In 2016, the Israel Diamond Institute (IDI) launched get-diamonds, a diamond trading platform for the marketing of diamonds from Israel and abroad.

In 2017, the International Tender Center (ITC), built according to the international standards, is inaugurated. That same year, the Israel Diamond Exchange’s Code of Ethics was signed, placing it at the forefront of the global effort to cement proper administration and transparency in the diamond industry. Later that year, the Israeli Diamond Exchange (IDE) marked its 80th anniversary at a festive event at the Charles Bronfman Auditorium in Tel Aviv.