2023-04-21 20:00:00
Books by Hani Al-Houti
Friday, April 21, 2023 10:00 PM
He is awaiting the approval of the Financial Regulatory Authority to launch a fund to invest in gold following the Eid al-Fitr holiday, to provide an opportunity for small investors wishing to invest in the yellow metal, trade (buy and sell electronically), avoid the risks of exposure to gold fraud or theft, and facilitate the liquidation of investments at any time, whether Cash or gold as desired by the investor.
An investment company applied to the Financial Regulatory Authority to obtain approval to launch the investment fund in precious metals (gold), taking advantage of the great demand for investment in the yellow metal in light of the inflation wave, and the desire of citizens to make profits on their savings, which appeared in the crowd that it witnessed. Gold shops over the past few days.
This came following the Financial Supervisory Authority issued several regulatory decisions that included controls for dealing with investment funds in minerals as one of the transferred financial values, controls for registering and deleting providers of mineral preservation services as one of the financial values transferred in the authority’s record, and controls for registration and deletion in the authority’s record for entities that investment funds must deal with. in the purchase and sale of minerals.
These controls aim to diversify investment and savings options to meet the diverse needs of all categories of investors, in a way that contributes to improving the levels of financial inclusion, in addition to creating records in the authority to register the providers of mineral preservation services as well as the parties concerned with carrying out the tasks of buying and selling them, while setting controls and requirements for their joining the register, in order to ensure The integrity and accuracy of transactions and ensuring the solvency of these financial and technical entities to carry out this activity.
It is scheduled that the gold investment fund will allow those wishing to purchase a document in the fund that determines the amount of grams that each investor owns, allowing small investors to buy small quantities without the need to save a huge amount to buy a gold bar, and the fund also protects investors from exposure to fraud while buying gold, or steal it while it is in storage; Because he will deposit gold with mineral preservation service providers.
Investing in the gold fund will also provide high gains for investors, given that the yellow metal is the highest savings vessel in terms of return, in addition to allowing easy liquidation of its savings by assigning the document and recovering its value in cash or gold, provided that the documents owned by it are equal to the price of an ounce. This is in addition to stopping speculation on gold.
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