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BMMB targets 5-10 pct increase in gold savings account deposit this year
Last update: 10/07/2018

KUALA LUMPUR, July 10 (Bernama) --†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, today.

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.



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Source: Bank Negara Malaysia

Starting April the banks have imposed a 50 sen processing fee on top of the 15 sen stamp duty on each cheque. The fee also applies to those applying for a Bankerís Cheque, Bank Draft and Cashierís Order. Do you think this additional charge is justified?

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