There is a clear trend in African Counties such as Sierra Leone, DRC, Zimbabwe and others to attempt to control diamonds transaction on an FOB basis for various reasons.
Countries like Zimbabwe are more interested in job creation and the additional employment created as a result of closing diamond transactions in Harare, thus circulating more money into the local economy.
Countries like Sierra Leone on the other hand are trying to curve the money laundering, as banks and or KPC issuing institutions in these Countries such as the GGDO, now want to know who the buyers are, and the anti money laundering departments want to make sure they receive a copy of the person’s passport.
They will usually authorize a CIF transaction AFTER the Buyer is in the system (usually 1 to 3 transactions done on an FOB basis first). At that time a CIF transaction will be permitted for exports.
In the DRC, the banks will usually authorize a CIF transaction after 3 transactions have been done on an FOB basis, unless the Buyer is willing to issue a bank to bank swift.