Bursa Malaysia Launches A New Gold Investment App Called Bursa Gold Dinar

Bursa Malaysia has launched a wide range of new investment assets and tools, which includes a new app for gold as an investment asset.

The Bursa Malaysia Multi-Asset Exchange launch event was officiated by Minister of Finance II,  YB Senator Datuk Seri Amir Hamzah Azizan. He was  accompanied by Securities Commission Malaysia Chairman, Dato’ Seri Dr. Awang Adek Hussin; Bursa Malaysia Chairman, Tan Sri Abdul Wahid Omar; and Bursa Malaysia Chief Executive Officer, Datuk Muhamad Umar Swift.

Promoting financial inclusion

In his opening speech, Bursa Malaysia chairman Tan Sri Abdul Wahid Omar said the evolution from a traditional capital exchange to a multi-asset platform will contribute to increased market liquidity and depth. This will also promote financial inclusion and wealth creation.

“We are committed to serving more customers in even more diverse ways, as we truly operate as a competitive multi-asset exchange,” he said.

Bursa Gold Dinar, a safe and secure platform for beginners

The event also witnessed the official launch of the Bursa Gold Dinar, Bursa Malaysia’s new gold investment app. It is a shariah-compliant gold trading platform and provides investors with the opportunity to to easily invest in physical gold through an app. The app will only be available for Malaysians or people who live in Malaysia who meet the eligibility criteria.

In his introduction, Bursa Malaysia CEO Datuk Muhamad Umar highlighted the benefits of the Bursa Gold Dinar app. The investment entry-level is kept affordable at RM10.

“We are demystifying the notion that investing is difficult and costly, and that investments are only for a certain income bracket. Investing is for anyone with as much as they wish to start with, to grow over time,” added Datuk Umar.

Other features offered by the Bursa Gold Dinar includes the option to transfer gold to their loved ones. Investors can also redeem every 4.25 grams of gold owned into a custom made physical gold coin.

Bursa Gold Dinar also offers extended trading hours until 11.50pm, seven days a week.  The Bursa Gold Dinar app is available for download on the Apple App Store and the Google Play Store.

MyBURSA and BURSA REACH

Other features and tools launched at the event included a new Customer Portal (MyBURSA), and a new platform that allows investors to quickly reach dealers representatives (BURSA REACH).

The MyBURSA Customer Portal will provide investment tools that will help investors make informed decision making. It will also provide access to research reports and other curated content.

BURSA REACH will the the first profiling platform in Malaysia dedicated to featuring and connecting dealer representatives (DRs) with investors. DRs can showcase their skills by sharing their portfolios and investors can select and engage with the DRs directly.

Exemption of capital gains tax on foreign-sourced income

At the launch, Minister of Finance II Datuk Seri Amir Hamzah Azizan had also announced that the government has agreed to exempt the imposition of capital gains tax (CGT) as well as taxes on foreign sourced income (FSI) on unit trusts.

This is good news to investors who are thinking of embarking on their investment journey. The government’s efforts to continue to make capital market investments in Malaysia people-friendly will help make investment more accessible to more Malaysians.

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