MUSCAT : Malabar Gold & Diamonds, one among the largest jewellery retailers globally with a strong retail network of over 250 outlets spread across 10 countries, has announced the 10% advance scheme for customers to ensure savings before the implementation of VAT in the country. As part of the Royal Decree issued by the Ruler of Oman, VAT is expected to be implemented in the country from 16th April 2021.
Through the PRE-VAT Savings campaign, customers can block the rate of gold based on the current gold rate by paying a minimum of 10% in advance. This way, if gold rate increases, customers get the benefit of the booked rate and if it reduces during purchase, they get the lower gold rate i.e. a customer intending to buy gold jewellery worth OMR 10,000 just needs to pay OMR 1000 to avail the advance booking offer and in turn get protected from the increasing gold rates. Customers can visit any store of Malabar Gold & Diamonds on or before 31st March to avail this offer, while they can purchase jewellery on or before 15th April i.e. before the implementation of VAT, thus ensuring maximum savings.
“Considering the current favorability of gold, both in terms of the reducing rate and as a value-appreciating lifestyle article, it is the best time now for consumers to invest in the metal and ensure savings, before the introduction of 5% VAT. We are doing everything possible to ensure our customers benefit during this pre-vat hike period, with several collections displayed in our stores across gold, diamond and gemstone jewellery. By paying just 10% of the total amount, customers can both benefit from low gold rate in addition to saving on the 5% VAT”, said Mr. Najeeb K, Regional Director – Oman, Malabar Gold & Diamonds.
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Customers also have the unique opportunity to buy now and pay later through interest free installment scheme with selected banks including Bank Muscat, Sohar International and NBO. The PRE-VAT savings offer is available across all stores of Malabar Gold & Diamonds in Oman.
Editor’s Note
Malabar Gold & Diamonds is the flagship company of Malabar Group, a leading diversified Indian business conglomerate.
Established in 1993 in the Indian state of Kerala, Malabar Gold & Diamonds today has a strong retail network of over 250 outlets spread across 10 countries, 14 wholesale units in addition to offices, design centers and factories spread across India, Middle East, Far East & USA. With an annual turnover of $4.51 billion, the company currently ranks one among the largest jewellery retailers globally.
With 14 cluster manufacturing units in India and GCC – the company currently has 12 jewellery brands to cater to the discerning needs of customers. With headquarters in Kerala and branches across India, Middle East & Far East, Malabar Group is best known for its activities in the field of gold, diamonds, silver and lifestyle articles.
The group also operates MGD – Lifestyle Jewellery, a retail concept offering trendy and light weight jewellery that represents the independent and the modern woman through its designs and collections.
The group, owned by over 4,000 shareholders excels in quality products and services, has more than 13,000 professionals working for its continued success.
Malabar Gold & Diamonds also features an online store www.malabargoldanddiamonds.com providing customers the opportunity to purchase their favorite jewelry any time and on any day from the comfort of their home.
