The President of the diamond bourse, who by virtue of the bylaws also serves as chairperson of the Israel Diamond Exchange Enterprises, stands at the head of this pyramid of public activity.
Members of the bourse elect the President every three years, in a personal, secret and direct vote. A President is limited to three consecutive terms, after which is required a "cooling off" period of one term, in other words, two years.
The President is the representative of the electorate.
Among the many tasks of the President are the promoting and development of the Israeli diamond industry, both in Israel and overseas.
The President provides the policy outline at the exchange and is responsible for all its official contacts with various authorities in Israel, government ministries, committees of the Israeli Parliament (the 'Knesset'), the Israel Income Tax Authority, Customs, the Bank of Israel, commercial banks, regulators, municipal bodies, insurance firms, forwarding and shipping companies and other major institutions in Israel and around the world.
The President is the official and the most senior representative of the Israel Diamond Exchange. In addition to this role, he promotes the status of the Israel Diamond Exchange in the global diamond industry while also being responsible to be in contact with governments, important people and institutions across the globe and represents the diamond exchange in international affiliated organizations such as the World Federation of Diamond Bourses (WFDB) and the World Diamond Council (WDC).