o Acquires social club license from CDA
o Recognition of its CSR activities
o Sets apart 10% of net profit for the needy
Malabar Gold & Diamonds, the 3rd largest jewellery retailer earned social club license that is issued to associations which organize ongoing social and welfare activities. The license was received by Mr Shamlal Ahamed M P, Managing Director- International Operations of Malabar Gold & Diamonds from Dr Omar Al Muthanna M D, Chief Executive officer, Regulatory and Licensing Department in the presence of Mr Saleh Ali Al Mazmi, Head of Licensing and other representatives from Malabar Gold & Diamonds.
CDA regulates and provides licensing services to non-profit social clubs and associations which organize ongoing social, cultural, artistic or entertainment activities to monitor the quality of services they offer to the general public. The license has been issued in recognition of the outstanding CSR activities they are involved in, aiming at improving the quality of life of the communities they serve, beyond financial consideration. Malabar Gold & Diamonds can now continue involving in such activities in the name ‘ Malabar Group CSR Initiatives'.
Established in 1993, Malabar Gold & Diamonds today has a strong retail network of 105 outlets spread across eight countries, 10 wholesale units in addition to offices, design centers and factories spread in India, GCC and Singapore. The company currently ranks as the world's third largest jewellery retailer dealing with gold and diamonds in terms of annual turnover.
CSR activities is the corner stone of their success right from their inception. Malabar Group of Companies put the welfare of people at the heart of all their developmental activities and sets apart 10% percent of their revenue for social welfare activities and undertakes several initiatives to help the poor and downtrodden section in the society. The group supports many philanthropic activities and is always ready to take initiatives to help the deprived section in the society. The key focus areas of the CSR initiatives of Malabar Group are in the field of Health, Education, Women Empowerment, Housing and Environment.