Bank Rakyat unveils Akaun-i eGold for online gold trading
KUALA LUMPUR: Bank Rakyat has launched the Akaun-i eGold, a Syariah-compliant digital gold investment platform that enables customers to conveniently and securely buy and sell gold through the iRakyat online banking service.
The account allows customers to invest in 999.9 fine gold, accredited by the London Bullion Market Association (LBMA), starting from as low as RM10.
It also offers real-time buying and selling prices, along with the potential to enjoy more competitive spreads between purchase and selling prices.
Customers also have the option to convert their digital gold balance in the Akaun-i eGold into physical gold, available in denominations from 0.5 grams up to 100 grams.
The gold can be delivered directly to the customer's preferred address through a dedicated delivery service.
Bank Rakyat in a statement said the launch of the new product reflects its ongoing commitment to helping customers diversify their financial portfolios by including gold as an alternative investment, or as a flexible and long-term savings solution.
"Alongside improving access to gold ownership with a low entry point, this product supports the Bank's ongoing efforts to offer inclusive financial services.
"It allows people from all walks of life to participate in gold transactions, buying, selling and converting digital investments into physical gold, to help them reach their financial goals with ease," it added.
To start investing through Akaun-i eGold, customers must have a Bank Rakyat Current Account-i, Savings Account-i or Investment Account-i, along with access to iRakyat online banking.
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