BANK MUAMALAT LAUNCHES ‘EASIGOLD’, DIGITAL GOLD INVESTMENT PLATFORM

KUALA LUMPUR, May 24 (Bernama) — Bank Muamalat Malaysia Bhd (Bank Muamalat) has launched its first Shariah-compliant digital mobile-based gold investment platform, EasiGold, that enables customers to invest in gold expediently via a mobile app.

Its Retail Banking Division director, Zury Rahimee Zainal Abiden said the platform, provided by ACE Capital Growth Sdn Bhd (ACE Capital), is expected to attract up to 350,000 Bank Mualamat customers within 12 months. 

“The EasiGold platform is only for our customers so those who do not have an account with us and want to utilise the platform can head to our nearest branch to open an account with Bank Muamalat.

“The platform features real-time gold price display which enables customers to buy and sell London Bullion Market Association (LBMA)-certified 999.9 gold purity at real-time spot prices,” he said after the launch of the platform today.

He said Bank Muamalat aims to promote gold as a safer investment alternative for Malaysians from all walks of life, offering tiered pricing with a spread of as low as 1.5 per cent, depending on market conditions. 

He noted that EasiGold complements the bank's existing gold product offerings, as well as caters to the shifting customer preference towards mobile accessibility.

Zury Rahimee said the digital gold investment platform is the only platform where the bank is the sole marketing agent with no involvement by third parties, and the gold is kept by the bank. 

“Customers’ details are kept secure in accordance with the Personal Data Protection Act 2012, and the entire process is Shariah-compliant.

“Therefore, we believe that the public will have more confidence to buy gold online via EasiGold as the security features are more reliable and guaranteed,” he said.   

Meanwhile, ACE Capital chief marketing officer and executive director Fong Pok Yee said the company is pleased to be partnering with Bank Muamalat, which has credible know-how and experience in the gold business.

“With this platform, gold trading is now at your fingertips and we hope the platform will appeal to millennials and the Gen Z demographics,” Fong said. 

Customers can download and install the EasiGold application via Google Play Store or Apple App Store.

-- BERNAMA