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ABN Amro branch Capelle aan den IJssel
ABN Amro Restricts Rough-Sector Lending
ABN Amro has scaled back its financing of rough-diamondpurchases, citing a lack of profitability in the manufacturing and tradingsectors.The Dutch bank, which mainly lends to rough dealers, will only offer credit without proof of onward sale...
Financial-Legal Jul 15, 2019 Joshua Freedman
National Bank of Fujairah Antwerp launch April 201
Dubai’s NBF Enters Antwerp Lending Market
The National Bank of Fujairah (NBF) has launched arepresentative office in Antwerp as it looks to expand its business lending toestablished diamond traders. The Dubai-based bank targets wholesalers with secure sourcesof income and solid product...
Financial-Legal Apr 07, 2019 Joshua Freedman
ICICI HQ
India’s ICICI Bank Exits Antwerp
India’s ICICI Bank will shut its branch in Antwerp onMarch 29, becoming the latest lender to quit the Belgian diamond market. The move followed a strategic review of ICICI’s businessoperations in the country, a spokesperson for...
Financial-Legal Jan 09, 2019 Rapaport News
Union Bank Antwerp
India’s Union Bank Leaves Antwerp
Union Bank of India willclose its branch in Antwerp, citing the weak performance of its diamonddivision, Bloomberg reported.The office will shutwithin a year, the news service last week cited Rajkiran Rai Gundyadka, thebank’s CEO,...
Financial-Legal Sep 06, 2018 Rapaport News
Nirav Modi
US Firms Aided $4B Modi Fraud, Probe Finds
Nirav Modi’s US jewelry businesses were directly involved in the Indian fugitive’s alleged billion-dollar bank fraud, a court examiner has concluded. Mihir Bhansali, the CEO of Firestar Diamond, Fantasy and A. Jaffe, as well as Ajay Gandhi,...
Financial-Legal Aug 28, 2018 Joshua Freedman
ABN Amro 600
ABN Amro Scales Back Diamond Lending
ABN Amro is terminating its diamond and jewelry lendingbusiness in the US and the United Arab Emirates (UAE), the Amsterdam-based banksaid.The lender decided to end its services to the US industrydue to its “very small portfolio,” a spokesperson...
Financial-Legal May 21, 2018 Rapaport News
India
India Trade Looks to Ease Banks’ Concerns
India’s diamond industry is working to produceguidelines for banks to reduce their risks when lending to the trade. The nation’s Gem & Jewellery Export Promotion Council (GJEPC) has beencollaborating with the government and lenders...
Financial-Legal May 01, 2018 Joshua Freedman
AWDC Hong Kong show March 2017
Antwerp Body Joins India KYC Program
Trade organizations in Belgium and India are collaborating on an onlinenetwork to enable industry members to share know-your-customer (KYC) data witheach other.MyKYCBank, which India’s Gem & Jewellery Export Promotion Council (GJEPC) initially set up, lets...
Financial-Legal Dec 06, 2017 Rapaport News
Erik Jens ABN Amro
Erik Jens Steps Down as ABN Amro Diamond Chief
ABN Amro’s diamond and jewelry division will become partof its trade-and-commodity finance business under a restructuring that has seenthe Dutch bank appoint a new global head for its precious-stones unit.Geert van Reisen...
Financial-Legal Dec 03, 2017 Rapaport News
Israel Diamond Exchange
Israel’s FIBI Bank Tightens Terms for Diamond Trade
The Israel Diamond Exchange (IDE) pledged to contest adecision by First International Bank of Israel (FIBI) to tighten its lending standardsfor the trade.FIBI raised collateral requirements for the diamondindustry, prompting IDE president Yoram Dvash...
Financial-Legal Aug 18, 2016 Rapaport News
Standard Chartered
Standard Chartered Exits Diamond Business
Standard Chartered has terminated lending to the midstream diamond and jewelry industry as it curbed its exposure to businesses that fail to meet its “new risk profile.” “When we announced our new strategy, we saidthat we would look...
Financial-Legal Jun 13, 2016 Rapaport News
Bank
AWDC: Antwerp Diamond Bank to Close Accounts by June 30
The Antwerp World Diamond Centre (AWDC) stated that significant progress has been made in transitioning Antwerp Diamond Bank (ADB) clients to new banking services. In April, the AWDC negotiated a two-month extension for ADB...
Financial-Legal Jun 26, 2015 Jeff Miller
Davy Blommaert
Dubai Banks Capitalizing on Shifting Diamond Trade Routes
Davy Blommaert is the head of the diamond lending segment of the National Bank of Fujairah (NBF) in the United Arab Emirates (UAE). The bank was founded in 1982 with a focus on corporate and commercial banking. Today,...
Financial-Legal May 29, 2015 Ronen Shnidman
abn amro
Press Release: ABN Amro Transfers India's Diamond, Jewelry Activity to IndusInd Bank
Press Release: ABN Amro agreed to transfer diamond and jewelry activities in India to IndusInd Bank Limited. These business activities were being conducted under cohabitation with Royal Bank of Scotland in India. IndusInd Bank offers...
Financial-Legal Apr 13, 2015 ABN Amro
Bank
Banks Need More Transparency From the Diamond Industry
Antwerp World Diamond Centre's (AWDC) keynote speaker, Herman Van Rompuy, the former European president, told industry attendees at a financing seminar on March 27 that no one can bypass market rules anymore. And this advice...
Financial-Legal Mar 30, 2015 Marc Goldstein
hsbc
HSBC Leak Implicates 2,000 Names in the Diamond Trade
An analysis conducted by the International Consortium of Investigative Journalists (ICIJ), in cooperation with French newspaper Le Monde, revealed that almost 2,000 of HSBC Swiss private bank's clients are associated with the diamond industry and face...
Financial-Legal Feb 09, 2015 Jeff Miller
AWDC
AWDC Hosts Diamond Financing Seminar in Davos
Press Release: Yesterday, on the margin of the World Economic Forum, the Antwerp World Diamond Centre (AWDC) setup a dedicated diamond financing seminar in Davos, introduced by Flemish Minister President, Geert Bourgeois, and attended by international...
Financial-Legal Jan 23, 2015 AWDC
vaibhav
Vaibhav Global Repays Term Loan
India's Vaibhav Global Ltd. informed the Bombay Stock Exchange (BSE) that it had repaid a $1.5 million (INR 90.414 million) working capital term loan, plus interest, to a consortium of bankers. Vaibhav Global, which was...
Financial-Legal Jan 13, 2015 Jeff Miller
alrosa
ALROSA Takes Measures to Improve Liquidity
Press Release: As of December 1, 2014, ALROSA has $3.6 billion of bank loans and public debt instruments, including debt maturing in 2015 -- $600 million of loans from JSC VTB Bank, $348 million (RUB 20 billion) of commercial...
Financial-Legal Dec 12, 2014 ALROSA
abn amro
ABN AMRO Aligns Diamond, Jewelry Sector Under Corp. Banking Segment
ABN AMRO reorganized its client segments, which the bank contended would improve the transparency of each business sector. Beginning with the third quarter results, ABN AMRO will present four reporting segments,...
Financial-Legal Nov 06, 2014 Jeff Miller
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