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Veteran businessman and pioneer in the gold sector Lalchand Chaturbhujdas Mulchand has died at the age of 94.
The chairman of Chaturbhuj Mulchand and Sons, with more than seven generations of legacy in Bahrain, died on Tuesday due to an age-related illness.
The Chaturbhuj family’s association with Bahrain dates back to the early 1850s when they first established business ties in the fields of pearling, food items and real estate.
The visionary’s contribution to shape Bahrain’s gold manufacturing industry earned him the affectionate title of the ‘Gold Man of Bahrain’.
In 1948, he introduced gold bullion trading to Bahrain, marking a milestone in the region’s trade industry.
His innovative approach led him to become the first to introduce Mexican and Turkish gold coins, as well as sovereigns, in Bahrain.
He was also the first to supply 24-carat five-tola bars to goldsmiths.
(The tola is a unit of weight commonly used in South Asia. Historically, it was used to weigh grains, but it is now primarily used for precious metals. One tola is equivalent to 11.6638gm.)
In 1967, Mr Mulchand expanded into gold retail, opening the first gold retail store in the iconic Bab Al Bahrain road – a store that continues to operate to this day.
His establishment of in-house bespoke manufacturing unit Gumaash Creations marked a significant milestone in the promotion of ‘Made in Bahrain’ jewellery, specialising in natural pearl jewellery that is deeply rooted in local culture and history.
The family said yesterday they were particularly grateful for the immense support and kindness extended to them over the years by the royal family, particularly when the late Amir HH Shaikh Isa bin Salman Al Khalifa personally visited Mr Mulchand in Manama to offer his condolences on the passing of the latter’s father.
The family is organising a condolence meet on Sunday from 9.30am to 11.30am and 8pm to 10pm at Villa 1654, Road 3029, Block 730, A’ali (behind Ramli Mall).
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