Institute to boost pearling industry

Manama: Bahrain Mumtalakat Holding Company yesterday highlighted the role of its new venture, Danat: the Bahrain Institute for Pearls and Gemstones.

It comes as part of Mumtalakat’s continued focus to build on the kingdom’s heritage and expertise by supporting national industries in new and innovative ways.

Bahrain’s jewellers and merchants were briefed about the venture during a Ramadan ghabga at the Capital Club.

“The jewellery industry has been growing at a rate of five to six per cent annually with global sales expected to reach over $270 billion by 2020,” Mumtalakat chief executive Mahmood Al Kooheji said.

“This has been reflected in the growth of branded jewellery sales, and their respective market share in recent years.

“Bahrain’s pearling heritage and successful history of commerce represent an important national value and Mumtalakat’s interest in this industry today pays tribute to our ancestors who paved the way for the country’s 20th Century growth and modernisation,” he said.

The local population in Bahrain is estimated to have reached 74,000 by the 1920s, of whom approximately 20,000 were engaged in the pearling economy. The rise of the cultured pearl industry and discovery of oil in the country however led to the industry’s sharp decline by the 1930s.

Danat CEO Kenneth Scarratt briefed guests on the company’s mission to leverage the kingdom’s expertise in this field to become the world’s preferred institute for natural pearl third party verification services.

With its offices at the World Trade Centre in Bahrain, Danat aims to establish windows abroad to serve both local and global clients.

“It’s an honour to have returned to Bahrain and help build up pearl and gemstones testing capacities in the kingdom,’ he said. “With the establishment of the institute, we plan to deliver reliable third party verification of a gem’s true identity based on field research and bring gemstone samples, excavated around the world to Bahrain for testing.”

One of the world’s leading authorities on natural pearls, Scarratt has worked across the world to serve the industry.

The gdn earlier reported that a state-of-the art pearl and gem testing laboratory will be opened in Bahrain by July.

Source: http://www.gdnonline.com/Details/222310/Institute-to-boost-pearling-industry