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Mashreq launches Gold Edge Invest Account

August 17, 2014

With the newly launched Gold Edge Invest account, Mashreq customers can now own, buy and sell gold currency (XAU) electronically without any security or handling concerns.

This offering by Mashreq allows customers to invest in Gold electronically, at attractive market rates that are updated twice a day. The Gold Edge Invest account allows customers to spread their personal investments across different asset types, in alignment with advice from investment experts.

The account allows customers to convert units back to cash at any time, while also offering the unique range of benefits that come along with a Mashreq relationship.

Caetano Fernandes, Senior Vice President and Head of Mashreq Gold, Mashreq, commented, "We recognised the need to introduce this service in the UAE as we closely studied the market and realised that volume of gold trades in Dubai shot up in 2014, from a mere $5 billion in 2003 to a whopping $75 billion in 2013. Gold is considered a safe haven during times of uncertainty, major geopolitical tension or economic adversity. Gold has also historically been considered an effective hedge to inflation, so if you're worried about the erosion of your savings because of rising inflation you might want to consider the Gold Edge Account at Mashreq."

He added, "At Mashreq we put our customers' needs first. This new initiative combines our commitment to offer our customers with investment opportunities that meet their personal aspirations in an easy and flexible way. Now, one can own gold conveniently without the hassle of a trip to the Gold Souq or leaving the comfort of your home at any time or place!"

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Source: CPI Financial

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