BELARUS NEWS AND ANALYSIS

DATE:

09/12/2007

Belarusian Banks Cleared to Trade Diamonds

By Avi Krawitz

RAPAPORT... Belarusian banks have been given the go ahead to trade in diamonds on behalf of the National Bank of Belarus (NBB,) the local media reported.

The NBB gave the directive aiming to "further liberalize the domestic diamonds market," the Belorusskie Novosti said quoting an NBB statement.

The decision allows the banks to buy and sell diamonds for either Belarusian ruble or foreign currency. Depending on the state of the domestic and international markets and on how much a bank is allowed to profit from this trade, the prices of diamonds may range from 90 to 130 percent of the NBB's selling price, the news agency said.

Source:

http://www.diamonds.net/news/NewsItem.aspx?ArticleID=19940