The gemology profession in Israel was founded in 1975, when Menahem Sevdermish return from Great Britain and signed a contract with the Israeli Precious Stones and Diamonds Exchange (IPSDE) to open the first gemological institute, known as Gemological Institute for Precious Stones (GIPS).

Over the years, the institute entitled as the official IPSDE laboratory and GIPS gemologists certified most of the Israeli exported gems. In addition, the gemological courses carried out by GIPS, were defined as a mandatory requirement prior applying for membership to the IPSDE.

In 1981, GIPS and EGL joined to open the Israeli largest gemological institute, containing the first EGL diamond grading, certification and research laboratories.

In 1998, GIPS changed its name to the European Gemological Center (EGC).

In 2012, EGC began issuing the new EGL Platinum certificates, which are famous by their strict quality assurance standard and achieve great success worldwide. In addition, the institute changed its name to EGL Platinum, to correspond to the new brand.

Today, EGL Platinum offers gemological services for dealers, jewelers and the public. The services include EGL Platinum certificates for diamonds and gemstones, EGA appraisal certificates for mounted jewelry and precious stones and the EGC College for gemological studies.