Almas Resources: Emerging Diamond Producer

Diamonds shine bright as an ideal investment choice

September 6, 2023

BY: Dhanusha Gokulan

“New policy encourages consumers to consider diamonds as an investment option too

Dubai: A 100 per cent value when exchanging diamonds? It is now possible in the GCC. While gold jewellery has historically been seen as a dual-purpose asset, appreciating and serving as an adornment, there has been a growing preference, particularly among Gen Z and millennial customers, for diamond jewellery as a gift.

However, questions about the resale value of diamonds have hindered their acceptance as a reliable investment option. Jewellery retailer Malabar Gold and Diamonds has launched a new approach that ensures customers receive 100 per cent value when exchanging their diamonds, it announced on Tuesday.

Under this GCC-wide policy, consumers can exchange diamonds for either gold or diamond jewellery without incurring any losses, effectively preserving the full value of their diamonds, said Shamlal Ahamed, Managing Director - International Operations, Malabar Gold & Diamonds.

According to Ahamed, this new policy also allows UAE customers to view diamonds as a viable investment on par with gold. Abdul Salam KP, Vice Chairman of Malabar Group, said that this policy change is designed to safeguard the value of diamond jewellery, especially for the evolving generation of jewellery enthusiasts.

In addition, Malabar Gold and Diamonds also continue to prioritise customer-centric initiatives under its 'Malabar Promises' umbrella, the company stated. These initiatives include transparent pricing, detailed gold and stone weights information, and simplified stone charges pricing.

Last month, the company also launched a partnership with Emirates NBD to streamline vendor payments using the bank's API (Application Programming Interface) Banking service, harnessing advanced technology to enhance their financial operations and cash management.”

SOURCE: gulf news

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