Malabar Gold & Diamonds donate DH10m to Al Jalila Foundation

Dubai : Malabar Gold & Diamonds, one of the world’s largest gold and diamond jewellery retailer, donated Dh10 million (US$2.72 million) to Al Jalila Foundation to support research in genetic diseases and disorders, as part of the company’s Corporate Social Responsibility initiatives. 

Malabar Gold & Diamonds operation is spread across nine countries in the world. As a CSR strategy, they spend five per cent of their earnings from the business back to the same society. In the UAE, as the basic necessities are taken care of by the government, the Group sees the need is in the field of medical research. 

The contribution for research will ultimately reach the entire world population, in particular to the developing nations as the genetic diseases are more severe in these countries.

Genetic diseases and disorders, coupled with rare diseases are a major cause of concern for mankind. More than 350 million people worldwide – that is more than the total population of the Middle East and higher than the US population – suffer from rare diseases, 80pc of which are linked to genetic disorders.

“Approximately 50pc of the people affected by rare diseases are children and 30pc of children with rare disease will not live to see their fifth birthday. These diseases are responsible for 35pc of deaths in the first years of life,” a report says.

MP Ahammed, Chairman of Malabar Group, handed over a cheque of Dh10 million to the Board of Trustees of Al Jalila Foundation at a ceremony.

“It gives me immense pleasure to announce our small and humble contribution of Dh10 million (US$2.72 million) to Al Jalila Foundation to support research in genetic diseases and disorders in the United Arab Emirates – a nation that has developed so much in such a short time,” MP Ahammed, Chairman of Malabar Group, said.

“The move reflects our gratitude to the United Arab Emirates – a great nation of great people that are blessed with visionary leadership. As a major retailer in gold and diamond jewellery, Malabar Gold & Diamonds has benefited from the world-class infrastructure, ease in doing business, safety and security provided by the government of the UAE.

“Needless to say that we are also blessed with and inspired by the vision of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai – who has created a safe haven for businesses and people to live and work in harmony regardless of their cultural, religious and social differences.”