Against the backdrop of profound changes reshaping the global diamond market, the Antwerp World Diamond Centre (AWDC) has reaffirmed its confidence in experienced leadership while appointing a board of directors that combines fresh perspectives with extensive industry expertise.
The Antwerp World Diamond Centre has reappointed Isidore Mörsel as President and Avi Bhansali as Vice President. Chirag Shah has been elected Second Vice President, while three new directors, Kirill Van den Abbeele, Dilip Thakker and Barak Levy, have joined the board. A total of 1,309 members took part in the election, reflecting the strong commitment of the entire diamond community.
Isidore Mörsel and Avi Bhansali embody stability and continuity at a time when the natural diamond sector is facing significant challenges. Under their leadership, the AWDC successfully secured the secured the regularization of grandfathered goods (natural or synthetic diamonds of Russian or unknown origin purchased before sanctions against Russia came into force) and negotiated adjustments to the European traceability implementation timetable, thereby preventing a sudden disruption to trade flows.
In comments published by Rapaport and subsequently reported in La Lettre Rubel & Ménasché (July 2024), Isidore Mörsel welcomed the decision as demonstrating “a deep understanding of the industry’s day-to-day operations,” enabling the sector to better manage the regulatory requirements imposed by the G7. Avi Bhansali, for his part, has played a leading role in reviving the Luanda Accord, an initiative aimed at securing more than US$100 million in funding to promote natural diamonds and restore their desirability among consumers.
The three newly elected directors each bring complementary expertise firmly rooted in the realities of the trade. Kirill Van den Abbeele, Managing Director of IGC Group, has long been recognised for his commitment to traceability, which he considers a key priority in meeting the expectations of both luxury brands and regulators. Dilip Thakker, Vice President of the Antwerpsche Diamantkring, contributes an in-depth understanding of market dynamics and the functioning of diamond exchanges. Having served for eight years on the board of the Antwerp Diamond Bourse, Barak Levy represents a new generation of internationally minded industry leaders.
Three major priorities now await the new leadership team, selected specifically for their deep understanding of the industry’s “internal challenges,” in the AWDC’s own words: accelerating the implementation of upstream traceability verification systems in close cooperation with African producers, advancing the promotion of natural diamonds following the Luanda Accord, and maintaining Antwerp’s position as the leading centre for the implementation of G7 sanctions.
For AWDC members, the reappointment of an experienced President and Vice President, together with the election of a seasoned and respected board, provides reassuring continuity and stability at a time of uncertainty, when maintaining a clear and consistent course is more essential than ever.
Main image : Antwerp World Diamond Centre (AWDC)