Malabar Gold and Diamonds Donates $2.7 Million for Genetic ResearchMarch 28, 16
(IDEX Online News) – Malabar Gold and Diamonds announced that it has donated AED 10 million ($2.72 million) to the Al Jalila Foundation to support research in genetic disease and disorders, according to a report in Muscat Daily.
The company said that it would make the donation as part of its commitment to social corporate responsibility, which includes spending 5 percent of its earnings.
Malabar Group chairman M P Ahammed handed over the check to the Al Jalila Foundation and said that it was a gesture to express the company’s gratitude to the United Arab Emirates.
“As a major retailer in gold and diamond jewellery, Malabar Gold & Diamonds has benefitted from the world-class infrastructure, ease in doing business, safety and security provided by the government of the UAE,” he said.
Malabar was established in southern Indian state Kerala in 1993, and now has 145 outlets in nine countries.
The Al Jalila Foundation, a global philanthropic organisation dedicated to transforming lives through medical education and research, was founded by Sheikh Mohammed bin Rashid al Maktoum.