The amount of credit issued to the diamond industry in Israel will exceed $2 billion within the next two years, Haaretz reported Monday.
Avraham Traub, the chair of the Israeli finance and tax committees of the diamond industry association and the diamond exchange, was quoted by the daily as saying that it would be easier to raise this amount of credit if foreign banks were to enter the Israeli diamond industry.
During the last two months only, the amount of credit in the Israeli diamond industry rose from some $1.3 billion to $1.5 billion, Shmuel Schnitzer, the president of the diamond exchange, told the paper, noting that figure is likely to rise as sales to the American market continue to grow - Albawaba.com
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