appears to be powder glass, here are Kiffa varieties that are similar, the colors are not quite the same but look at the green in the bottom left of the picture.....whatever your bead turns out to be, it was meant to imitate the Morfia type of ancient bead, just my humble opinion

Thanks for the feedback. When I first found it I also thought possible a Kiffa type bead but the bead seemed heavy and at 18mm larger than any round Kiffa I have.Also the feel of the beads didn't seem right for a Kiffa bead but maybe it was just made by a very talented Kiffa artisan.
Thanks again
Wayne

At first sight I was ready to discard the piece as being newish and not nice.

But that's not really true. Actually the piece is of great interest to me.

Not only is it very unusual in it's colors, it is also not one of the new versions (since 1990), despite it's relative simplicity in workmanship.

The bead definitely copies the design of the famous "MORFIA", as TASART pointed out.

Very unusual and surprising is the lack of any white and blue color.

An exceptional piece. Though the post is stone-old leaving my reponse possibly unnoticed, I would like the owner to contact me, should he want to sell the piece!