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 Business

Bank Muamalat targets 5-10 pct increase in gold investment

11th July, 2018

KUALA LUMPUR: Bank Muamalat Malaysia Bhd (BMMB) targets a 5 to 10 per cent increase in its gold savings account deposit this year, representing an increase of RM110 million compared to RM90 million last year.

Chief executive officer of BMMB, Datuk Mohd Redza Shah Abdul Wahid, is confident that the figures can be achieved following the favourable response towards its ‘Oh Yeah! Hartawan Emas’ savings account campaign, which ran from Sept 8, 2017 till March 30 this year.

There are 32,000 physical gold depositors and BMMB gold savings account holders since it was launched two years ago, with 500kg worth RM90 million in total savings value.

“This account is an alternative for those who are interested in a gold savings account, and the public needn’t worry about the possibility of investing in dubious online gold investment schemes.

“It is also a way to diversify one’s investment, and you only need a minimum deposit of RM10 to open a gold savings account,” he said to reporters during a press conference at the Aidilfitri celebration ceremony with corporate clients at BMMB’s head office, on Tuesday.

Earlier, BMMB chairman, Tan Sri Datuk Dr Mohamed Munir Abdul Majid said in his speech that there were 12,107 new account holders who signed-up during the ‘Oh Yeah! Hartawan Emas’ campaign, depositing RM43.14 million in total.

Mohamed Munir also awarded the campaign’s Grand Draw winners with a 1kg gold bar worth RM180,000 each. The winners are Ariffin Sharif of Jalan Melaka branch in Kuala Lumpur, Abdul Kadier Sahib (Bintulu Branch) and Norzila Md Din (Johor Bahru branch).

Besides the Grand Draw prizes, a total of RM1 million worth of gold bars in the form of 10gm gold minted bars were given away to monthly winners during the campaign period. –Bernama

   
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