Precious Stones

Regarding precious stones, The Bank of Makkah & Al Madinah primarily will trade in diamonds and rubies. While diamonds are commonly known for their use in jewelry, most diamonds are used industrially to cut, grind, polish and drill other materials. Rubies are used extensively in all forms of jewelry and have a strong appeal for their perceived mystical powers including the ability to focus energy, shield from negative thoughts, and to promote clear thinking; rubies also are believed to offer strong health benefits by fighting infection, promoting fertility and preventing starvation.

Industrially, they are used in laser technology as their ability to focus light leads to a higher intensity than most other stones.