Maybank Islamic Launches Online Gold Investment Account
Author Avatar

(Image: The Star)

Maybank Islamic has launched an online investment product called the Maybank Islamic Gold Account-i (MIGA-i). It allows customers to conveniently open an account, as well as buy, sell, and transfer gold, completely online via Maybank2u.

MIGA-i lets customers own physical gold with 999.9% purity as accredited by the London Bullion Market Association, without the hassle of storing it physically or worrying about its safe custody. According to Maybank Islamic CEO Mohamed Rafique Merican, MIGA-i differs from conventional gold accounts as this Syariah-compliant account allows customers to redeem their available gold balance with physical gold – in denominations as small as 1g minted gold bar to 1kg cast gold bar.

Moreover, the bank is the first financial institution in Malaysia that will deliver the physical gold to its customers following redemption. The account is also said to be the first of its kind in the market that allows customers to enjoy real-time market price to buy and sell gold, with an upcoming feature that will allow customers to place future orders to buy or sell based on their preferred price via Maybank2u.

Other benefits that customers may enjoy include the lower spread between the bank’s buying and selling price, as well as no additional charges for transfer of gold in grams from one MIGA-i account to another.

“Everyone can invest in gold with an initial investment of as low as RM10. An upfront preferential rate will be given to customers with investment of 100gm and above to ensure customers get the most attractive gold prices in the market,” said Rafique. “There is now an uptrend in gold investments among consumers. The Covid-19 pandemic has driven investors who are risk-averse to assets such as gold which they consider a stable investment.”

Maybank Islamic is currently running a referral campaign where you and your referrals can earn a complimentary 0.01g of gold each. Find out more about the Maybank Islamic Gold Account-i here.

(Source: The Sun Daily)

4 2 votes
Article Rating


Comments (0)

Notify of

Inline Feedbacks
View all comments
Top Bank News Articles
Post Image
Malaysian Banks And Local Institutions Offer Financial Assistance For Customers Affected By Covid-19
Alex Cheong Pui Yin
- 1st April 2020
(Last update: 1 April 2020, 3.40pm to include FAQs by banks.) With Malaysia going into an extended period […]
Post Image
CIMB To Terminate Bonus Point Redemption For Cashback, Remove Credit Card Benefits For DuitNow QR
Alex Cheong Pui Yin
- 11th August 2023
CIMB has announced that effective 1 September 2023, it will be terminating the redemption of Bonus Points for […]
Post Image
CIMB: Touch ‘n Go eWallet Sees Healthy Volumes For Essential Services And Online Transactions
Alex Cheong Pui Yin
- 13th April 2020
CIMB Group Holdings Bhd, which owns Touch’n Go Sdn Bhd (TNGSB), has reported a continuation of healthy volumes […]
Post Image
Operating Hours For CIMB Branches Are Now Back To Normal
Alex Cheong Pui Yin
- 7th January 2021
CIMB has announced that the banking hours for its branches and Preferred Centres across the country have now […]

Related articles

Related Posts Image
Related Posts Image
Related Posts Image
Related Posts Image