Jewellery Companies Consider ‘Diamond Bank’ Policy to Reduce Citizens' Losses

A number of jewellery companies are studying approaches to adopt the “Diamond Bank” policy in order to reduce citizens’ losses which accounted for 35%.

Wael Shawky, head of one of the jewellery companies, noted that implementing this mechanism would control the movement of buying and selling in diamond markets.

Accordingly, the policy will expand the consumer market and change the stereotypical image that the citizens have about diamond loss.

Shawky indicated that diamonds equals to the gold's value but rather higher due to several factors, including the saturation of diamonds with all its variables, which makes it a means of saving and preserving the value of money over time.

Moreover, he stressed the necessity of setting measures to cut the citizens’ losses, through contracts with trade to set loss rates in cheeks that do not exceed 10% when selling in the first year. In this regard, customers would register 5% profits in the third year.

Contributed by Omnia Ahmed