Al Rajhi Bank have established themself as the most popular bank in Saudi Arabia, with over 500 branches and 4,100 ATMs throughout their network. They also have 46,000 POS terminals installed for merchants around town! With these accomplishments under their belt, Al Rajhi opened an overseas office in Malaysia’s capital city Kuala Lumpur back in 2006.
Gold investment accounts allow investors to buy, sell, and trade gold without having any physical assets. Gold has been a beneficial addition for those who want diversity within their portfolio while still maintaining stability through diversification with other investments products. In Malaysia, only certain banks provide this service.
Your investment may be volatile and exposed to market forces. If the conditions change for the worse, your funds may also lose their value.
In the event that market conditions change, your investment may be at risk. Though gold is considered one of the world’s safest investments due to its durability and security from inflation or significant fluctuations in value- it will not protect you against losses!
Prices of gold may fluctuate daily. Customers may gain profit if the international gold price appreciates above their initial payment. However, there is no guarantee that the price will go up and fall.
When you withdraw your GLD from the account and convert it into MYR, you may not receive the exact amount as the initial payment.
Not protected by authorities
A gold investment account is not covered by Perbadanan Insurans Deposit Malaysia (PIDM).
Minimum initial purchase
Subsequent purchase or sale
A minimum of 5 grams and in multiples of 5 grams
0.50% p.a. of the value of gold
Customers can visit the nearest Al Rajhi Bank to open the Al Rajhi Gold-i investment account.
Minimum initial purchase
The amount of gold you need to start an investment account. It depends on the bank and type, but it can be as little as 1 gram or more!
The minimum amount of gold needed to maintain your gold investment account.
Minimum subsequent purchase/ sale
The minimum amount of gold you must involve in any transactions when buying or selling via your gold investment account.
The difference between a bank’s selling price and buying price for gold investments account. For example, you get gold at RM240, and the bank repurchases it at RM230. The buy-sell spread is RM10 (RM240 minus RM230).
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