Israeli Bank Raises Lending to Israel's Diamond Industry by 25% in Past Year

Finance and Trade
16/06/2015 12:45

Mizrahi Tefahot, a Tel Aviv-based bank, raised its lending to the Israel diamond industry by approx. 25% in the past year, CEO Eldad Fresher told Rapaport News. “About a year ago, we decided to grow our presence in the diamond industry in Israel,” he said. “We expanded our credit lines and took on new clients because we believe in this sector.” Fresher was speaking at a joint session of the WFDB and the IDMA at the Presidents Meeting in Tel Aviv. The lack of available bank credit was listed among the main challenges facing diamond manufacturers and dealers at the two-day meeting. Fresher urged the industry to be more transparent in order to strengthen the trust between the diamond and banking sectors.