Bursa Gold Dinar

Gold is respected around the world for its value and rich history, which has been recognized by cultures for thousands of years. But hey I just live for 2 decades, so if I hear gold, my mind would only think of jewelry.

Now, Bursa Malaysia launches Bursa Gold Dinar (BGD). Bursa Malaysia started out as a stock exchange operator six decades ago, Bursa Malaysia has diversified its offerings over the years to various asset classes to cater to a wide breadth of investors of all risk profiles and demographics. The transformative journey of Bursa Malaysia to be a multi asset exchange is to be commended. 

Why invest in gold?

• A Good Way to Save Money for Future

• It can Protect Against Inflation Risks

• Can be Passed on Easily to Next Generations

• Secured Investments when Compared to Other Assets

• Does not Deteriorate with Time

What determines the price of gold?

Interestingly, the price movements of gold arise from a combination of many different factors, rather than a single cause. Not so sure if there is a study conducted about factors affecting the prices of gold in Malaysia but some of the main causes affecting gold prices includes demand, the relationship between gold and fiat currencies and supply of available gold. Yes, basic economics 101 you see there is supply and demand. 

How can I invest in Bursa Gold Dinar?

First of all, you can download the app. The BGD is a platform for you to buy and sell 999.9/24k gold and redeem your gold in the form of physical gold dinar coins. The BGD platform allows you to invest from as low as RM10 (this is as low as it can get out there) and its equivalent in grams. 

To be eligible to use and purchase through BGD platform, you must: 

1. Be above 18 years old
2. Be a Malaysian citizen or Malaysian permanent resident or foreigner legitimately residing pursuant to a valid visa and with a valid mailing address in Malaysia
3. Not be a US person under the Foreign Account Tax Compliance Act (FATCA)
4. Be a tax resident of Malaysia only
5. Hold a valid bank account in Malaysia and a Malaysian mobile phone number, with no existing or pending bankruptcy or winding-up petition

The name speaks for itself, for BGD platform you can only redeem a physical gold dinar coin (approximately 4.25 grams). Yes, lesser than that you cannot redeem the physical coin.

Then, select the redeem option on your app and input your address for delivery. Ensure you have sufficient cash in your account to pay for your courier fee, insurance/takaful fee and minting fee. Delivery is expected to take about five (5) business days for Peninsular Malaysia and seven (7) business days for Sabah and Sarawak.

Since there are a lot of scams relating to gold going on, I would recommend to consider BGD platform as Bursa is technically a GLC company under the purview of Ministry of Finance, Malaysia. On top of that, the gold that you will be purchasing on the platform is secured as the underlying physical gold is insured and stored in a secured vault located in Malaysia, operated by a vault operator appointed by Bursa Malaysia Digital Sdn. Bhd. (formerly known as BM Digital Sdn. Bhd.). Bursa Malaysia Digital Sdn. Bhd. also appoints a trustee to be the custodian of all monies handled on the platform.

Of course another concern would be, 

Is the BGD Shariah-compliant?

It is presented that the BGD is designed as an end-to-end Shariah-compliant platform product, ensuring compliance at every stage including the underlying physical gold. Gold on the platform is backed by an equivalent amount of underlying physical gold with a serial number and is audited from time to time. Furthermore, a seller's gold and buyer's cash will be transferred on a real-time basis; the system will not allow any deferred payment and asset transfer. The platform utilises a trust account with an Islamic bank. The platform also adheres to the Auditing Organization for Islamic Financial Institutions (“AAOIFI”) Shariah Standard on Gold. Additionally, the product has also been endorsed by the Shariah Committee of Bursa Malaysia Islamic Services.

However, I would like to highlight that there are quite a number of fees and charges involve if you consider in investing.

What fees and service charges may apply when using the Bursa Gold Dinar platform?

1. Top-up Fee: 0.35% of transaction value, with a minimum fee of RM0.10 and a maximum fee of RM1.00. Charged upon depositing cash into the Cash Wallet. (For me, this kindda defeat the purpose of promoting that as low as RM10 you can buy gold because I would want to top-up as many as I can to avoid multiple top-up fee)
2. Withdrawal Fee: RM0.15 per transaction. Charged upon withdrawing cash from the Cash Wallet
3. Purchase Fee*: 0.20% of transaction value. Charged upon purchasing. [IT WILL BE WAIVED UNTIL SEPTEMBER 2024]
4. Sale Fee*: 0.20% of transaction value. Charged upon selling gold. [WAIVED UNTIL SEPTEMBER 2024]
5. Courier Fee: RM10.00 per box. Charged upon redemption of Bursa Gold Dinar coin, for delivering Bursa Gold Dinar coin to investor, subject to 100g per box. 
6. Minting Fee: RM73.40 per coin. Charged for minting of the BGD coin
7. Insurance/Takaful Fee: RM13.00 per coin. Charged upon redemption of Bursa Gold Dinar coin, for protection of gold during delivery to investor.
8. Transfer Fee: 0.20%. Not chargeable for transfer amounts below RM200.00. Charged upon transferring the gold to another investor within the gold platform.
9. Annual Admin Fee: 0.50% of assets in the BGD app. Charged on an annual basis for safekeeping of physical gold in secured vault. [WAIVED UNTIL 30 JUNE 2024]
10. Registration Fee*: RM5.00 per user. Charged for user registration on the BGD platform. [WAIVED UNTIL FURTHER NOTICE]
11. Penalty Fee: RM5.00 per event. Penalty charged for use of non first-party bank account to top-up cash wallet. Funds will be returned to the originating account less penalty fee.
12. Dormant Account Closure Administrative Fee: Platform Operator will notify users of Dormant Account closure, absorbing any remaining balance as administrative fee, together with providing one (1) month notice. Charged upon closure of dormant accounts.

* May be subject to waivers from time to time.

I really understand if you're hesitant due to the fees and charges, totally can relate. On the other side, you can see this as a baby step to start investing/ diversify your investments.

To Love or To Be Loved?

 Is it better to love or is it better to be loved? Which one is important? 

Love itself is an intense feeling of deep affection and it has no space for possessiveness. This affection is for anything in this world be it human beings, animals, plants, things yes you name it all. We being human, loving is joyful until it’s not hurting the other one. We can’t love anything/anyone forcefully and the same way we can’t force someone or expect to love back. That’s why I thought to write about this post.

We always love someone who doesn’t love us as much and in the same way in return. It can be devastating but understanding the reason behind it can ease your heart.

"The problem with human attraction is not knowing if it will be returned" - Becca Fitzpatrick

When you love someone, knowingly or unknowingly we start controlling or forcing our thoughts, our relations on the other person. The other one might or might not have the same feelings or thoughts. But we still keep pushing other one to hear us out, follow us and live as per our wish. Sounds familiar? You know how one can call you as their best friend and your response (verbally or in your head) = Are we? or We're best friends now? 

It is the same when someone thought you're his/her lover out of the sudden and you're like what!? Confusing and creepy right.

Never force your thoughts, beliefs , likes, dislikes or anything onto them. If the other person never care about your love, feelings and thoughts then that person was never the one who understood your love. Let that person go silently. I learnt that the hard way.

Then, how to create this special bond? 

I believe that being transparent is the best quality of any relation. Sure, it's hard to speak up sometimes worrying that person might run away after hearing the truth right. Instead of hearing out from anyone else or hiding things from each other, be open and speak up. It is better not to hide anything from the other person you are in love or relation. Again, I learnt this the hard way. Sometimes, if you did not speak up for yourself and someone else will do it on your behalf. Trust me, it gets messier from there. 

If the person really loves you and cares for you being in his/her life, the other one will definitely value and understand the reason behind keeping all straight. If at all the person never understands and still force you for anything they want. then it’s time for you to look onto and try to move on. 

It does not necessarily mean for you to leave the person and start new relation, give time to the person to realize and understand all you were trying to make him/her understand. If the person really loves you, he/she will come back to you and be there happily because hey he/she really loves you and values you in their life right. 

Unfortunately, again I learnt this the hard way, the person never comes back. 

Life is short. We all want to be happy and you know keep everything neat and tidy in this life. 

That is okay. That is perfectly fine too.

To me, to be loved back is definitely an awesome feeling.

To me, when you love, it doesn’t matter, if you get your love in return or not. You should keep loving the person the same way you do. There must be a reason of why you started to love person in the first place right. And at that point, you did not consider whether you will get you love in return. So, why stop?

Remember to love what you have in your life but never force anyone to love back. Love is more than just expecting to be loved back. Spread the love in this world.

Be a reason to the smile on someone’s face.