Best Practices for Contracting as a Diamantair
This best practice guide for contracting and trade in the Belgian diamond industry – drafted by AWDC private foundation and endorsed by the supervising authority, the FPS Economy – contains specific guidelines improving transparent and modern diamond trade and contributes in particular to:
- A better protection of the commercial and legal interests of diamond traders;
- A sustainable and transparent relationship with banks in the diamond industry;
- Conformity with legal and regulatory frameworks such as accounting legislation, fiscal legislation, custom legislation etc.
While this is a best practice guide, certain legal obligations are included in this document, too.
This guide is inspired by the recommendations in the ‘Risk Analysis Money Laundering in the Belgian Diamond Sector (2017)’. It touches upon the anti-money laundering legislation, although this guide does not specifically deal with the obligations following the anti-money laundering law. The latter is dealt with in the ‘Anti-money laundering policy for the Belgian diamond trader (2019)’ drafted by AWDC.
Basic Trainings for Diamantairs
AWDC offers two essential training courses tailored for entrepreneurs entering the diamond trade:
- the AML Course and
- the Best Practices for Contracting in the Diamond Industry Course.
These courses equip diamantairs with the foundational knowledge they need to excel in their profession while adhering to industry standards.
Traders can easily access and participate in these training programs via the Registered Diamond Companies portal.
Not a Trader but Interested?
If you're not a diamond trader but are interested in the insights shared during these training sessions or would like to participate, feel free to reach out to our AML and Compliance Helpdesk for more information.
Questions?
