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Malabar to export $25m jewellery products a year from Bangladesh

Factory being set up in N’ganj

  • Staff Correspondent
  • 29 July, 2022 12:00 AM
  • Print news
Malabar to export $25m jewellery products a year from Bangladesh
Executive Chairman of Bangladesh Investment Development Authority (BIDA) Md Sirazul Islam attends a ceremony marking the foundation stone-laying of the jewellery factory of internationally reputed Malabar Gold and Diamonds in Narayanganj on Thursday. Nitol Niloy Group Chairman Abdul Matlub Ahmad, Malabar Gold Finance Director Ameer CMC and Trust Bank Managing Director Humaira Azam were also present on the occasion. —sun photo

Internationally reputed company Malabar Gold and Diamond Company will export jewellery products worth $25 million from Bangladesh per year as the brand is setting up a factory in Narayanganj.

The factory will be commissioned by December this year and start export from early next year, officials related to the project confirmed to the Daily Sun.

Bangladeshi company Nitol Niloy Group is jointly implementing the project as the local partner.

“It will produce different types of jewellery from gold, diamond and precious stones. Some 250 local and international staff will be employed here. We will take bars from Bashundhara Gold Refinery to make world-class jewellery products,” Abdul Matlub Ahmad, chairman of Nitol Niloy Group, told the Daily Sun on Thursday.

He informed that Bashundhara Gold Refinery will supply gold bars for making jewellery products.

Bangladesh Investment Development Authority (BIDA) Executive Chairman Sirajul Islam laid the foundation stone of the factory as chief guest in Madanpur next to the Dhaka-Chittagong road on Thursday. Nitol Niloy Group Chairman Abdul Matlub Ahmad, Malabar Gold Finance Director Ameer CMC and Trust Bank Managing Director Humaira Azam were also present on the occasion. Malabar Gold Managing Director (International Operations) Shamlal Ahmad addressed the session virtually.

Bangladesh Jeweller's Association (BAJUS) President Sayem Sobhan Anvir has been leading the efforts to enable Bangladesh’s gold industry to export jewellery products. 

Malabar Gold and Diamonds is a BIS-certified Indian jewellery group headquartered in Kerala, India. The company currently has more than 290 showrooms in 10 countries, making it one of the largest jewellery store brands in the world.