The Calligraphy says "Mash´allah" (ما شاء الله). Mash´allah is an arabic phrase that expresses appreciation, joy, praise or thankfulness for something beautiful.
Created by Oytun Camcigil who is an expert on Middle Eastern Bedouin jewellery and currently writing a book on the subject.
Sterling silver and 24 Carat gold plated on Sterling silver with agate/pearl and leather strap. Approx. size: 1.5 cm diameter, 17.5 cm long