President of Bangladesh Jeweller’s Association (BAJUS) Sayem Sobhan Anvir on Thursday called upon the people having idle money to invest it in gold to get attractive returns, describing the precious metal as a secure investment tool.
“The price of gold has shot up by 15 times in the last two decades. So, investing in the sector will yield a good profit in future,” he said while addressing a seminar after inaugurating the three-day BAJUS Fair 2023.
Some 50 traditional jewellers and service providers are participating in the largest exposition of the country’s jewellery sector at the International Convention City Bashundhara (ICCB).
Reminiscing about his marriage, the BAJUS president said the price of gold was just Tk 6,000 per bhori when he tied the knot. “The price of the yellow metal is now over Tk 90,000 per bhori, which is almost 15 times higher. The investors should think about the potentials of gold,” he said.
Sayem Sobhan Anvir, also Managing Director of Bashundhara Group, chaired the seminar while News24 Chief News Editor Shahnaz Munni presented the keynote paper on women and ornaments.
In his speech, the BAJUS president mentioned that investment in gold and land never causes any loss. “The price of land never dropped in the last 20 years. Gold has also maintained good returns for investors over the years,” he said.
About the claim that customers do not get actual price while selling gold, he advised all to buy pure gold. “When you consider gold as an asset, you should buy pure gold. Never buy junk gold if you take it as investment and then you’ll get good returns. We don’t fix the gold price locally. But the international price is followed across the world,” he said, urging all to consider gold as a potential instrument of investment.
Bashundhara Group is setting up the country’s first gold refinery with an aim to export jewellery with the ‘Made-in-Bangladesh’ tag.
Information and Broadcasting Minister Hasan Mahmud attended a session in the second half of the day.
Rowshan Ara Mannan, MP, Shirin Akhter, MP, Jinnatul Bakia, MP, Bashundhara Group Director Sabrina Sobhan, Jatiya Press Club (JPC) President Farida Yasmin, Bangladesh Pratidin Editor Naem Nizam, Kaler Kantho Editor-in-Chief Imdadul Haq Milan, News24 Executive Editor Rahul Raha, actress Jotika Jyoti, Dhaka North city Jubo Mahila League President Sabina Akhtar Tuhin, Eden College Bangladesh Chhatra League President Tamanna Jasmine Riva and Dhaka University Senate member Tilottama Sikder took part in discussion.
In her speech, Shirin Akhter, MP, said BAJUS should take initiative to transform the gold sector into an industry for the sake of country’s development. “We can think about design of ornaments. Businessmen should work for bringing down the price within the reach of commoners,” she said.
JPC President Farida Yasmin said gold ornaments help a girl secure financial security in future.
Former BAJUS President Dilip Kumar Roy, Vice-Presidents Gulzar Ahmed and Anwar Hossain, General Secretary Dilip Kumar Agarwala, Vice-Chairman of BAJUS Standing Committee on Women Affairs Sohana Rauf Chowdhury and Supreme Court lawyer Barrister Sumaiya Aziz were present on the occasion.
In her keynote paper, journalist Shahnaz Munni shared the historic importance of gold in the region and Bangladesh as well. “Gold is not only a precious metal but also a medicine. Ayurvedic scholars believe that gold can cure many health problems, especially bone diseases,” she added.
Sohana Rauf said gold is a financial security for women, especially housewives. “Gold can be a good investment amid the dollar crisis,” she observed.
Tilottama Sikder said gold has been used as a symbol of power and aristocracy over the centuries.
Gulzar Ahmed said the BAJUS Fair has attracted local and international businessmen to invest in the gold industry of Bangladesh. “Many dignitaries, including foreign ambassadors, came to the expo. Under the leadership of Sayem Sobhan Anvir, the gold industry has gained momentum in the last one year,” he told the Daily Sun.
Gulzar, managing partner at Apan Jewellers, mentioned that some foreign delegates are coming to Bangladesh to hold business-to-business meeting marking the fair.
The expo featured a couple of service providers who support technology to check the quality of gold instantly.
Dreamz Instrument Technology proprietor Ali Hossain said the gold quality-checking solution from the USA helps local jewellers maintain accuracy in product.
BAJUS officials hoped that the three-day fair will play a role in boosting the domestic jewellery industry and creating a strong position of Bangladesh in the global market.
The participating companies are showcasing their products and services in pavilions, mini pavilions and stalls.
The country’s leading companies like Amin Jewellers, Apan Jewellers, Alankar Niketan, Kunjo Jewellers, Royal Malabar Jewellers, Venus Jewellers, Diamond World and Jarwa House have put on display their products in eight large pavilions.
Vinayak Gold and Diamond, Golden World, Gaurav Jewellers, New Fancy Jewellers, Pearl Oasis, Jaya Gold, Zara Gold, Alvi Jewellers, Rizvy Jewellers, Royal Diamond, Dreamz Instrument Technology and Rajeshwary Gold are displaying products in 12 mini pavilions.
Besides, LK Jewellers, Chowdhury Gold, Gitanjali Jewellers, Riya Jewellers, Ananda Jewellers, Diamond House, Aftab Jewellers, Fariha Jewellers, IK Jewellers, Rajnigandha Jewellers, Sultana Jewellers, Nibir Jewellers, Siraj Jewellers, Diamond Bazar, Ananya Jewellers, Daya Gold and Diamond, DDamas – The Art of Jewellery, D Diamond, Queen Perl House, New Bashundhara Jewellers, Soul James and Diamond, Parash Jewellers, Classic Gold and Diamond Jewellery, Diamond Corner, Gold King Jewellery, Sonargaon Jewellers, Monimala Jewellers, RN Microtech, Bangladesh Dise House and SGL Lab of Bangladesh are showcasing their products and services in 30 stalls.
There will be a raffle draw for the customers of jewellery products at the fair. The expo will remain open from 10:00am to 9:00pm every day until tomorrow.
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