The Israel Diamond Exchange (IDE) has introduced an ethical code of conduct, requiring members to comply with a series of guidelines aimed at improving transparency and business practices.
The code covers six areas of ethical behavior, including showing respect for clients, colleagues, employees and suppliers regardless of nationality, ethnicity, religion, color, gender or status.
It also compels bourse members to comply with all legal regulations and cooperate with government authorities; show responsibility toward other members; train and mentor new industry members and guard the trade’s reputation; compete fairly and refrain from attacking other members on social media; and strive for excellence and professionalism.
IDE board member Emma Yanover and ethical-code committee chairman Asher Dalumi led the project, which took more than two years to complete. It was started during the term of previous bourse president Shmuel Schnitzer and was prepared in conjunction with Professor Asa Kasher, a philosopher at Israel’s Tel Aviv University.
“The introduction of the ethical code of conduct is an important step in our pursuit of transparency and best business practices,” said current IDE president Yoram Dvash.
The launch of the code comes shortly after the IDE’s announcement earlier this month that it was appointing a district court judge to rule on large arbitration cases and appeals.