FAB and Gilded offer digitally enabled physical gold investments. Source: Shutterstock

First Abu Dhabi Bank (FAB) subsidiary FAB Private Banking has teamed up with financial technology company Gilded to introduce a physical gold product that allows customers to buy and hold institutional-quality gold in an easy, safe, and practical manner.

Gilded is a prominent financial technology company that specialises in enabling the use of actual gold. Professional investors will be able to easily invest in gold without having to deal with the conventional issues of safe storage, insurance, or authenticity certification following FAB Private Banking’s use of Gilded’s platform to provide institutional-quality real gold bars.

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Exchange-traded funds (ETFs), which let investors to own a portion of a pooled investment as a security, are different from the Gilded offering. Instead, Gilded offers the convenience of digital technology along with the advantages of direct physical gold ownership.

The platform’s gold bars are bought directly from Swiss refineries and meet the highest standards of 0.9999 purity, Shar’iah compliance, and London Bullion Market Association (LBMA) gold bar criteria. The gold is kept in Brink’s vaults in the United Arab Emirates, which are completely insured, and each purchase is permanently documented on a distributed ledger for permanent ownership.

FAB’s cooperation with Gilded combines one of the world’s oldest and most trusted repositories of wealth, gold, with modern financial technology.

Moreover, as an expansion of FAB Private Banking services, clients may now vary their portfolio with an asset that has served as a safe haven for generations, with a simple purchase, security, and functionality for physical Sharia-compliant gold ownership directly from the FAB platform.

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With the gold itself kept in a secure facility, this new physical gold product from FAB Private Banking and Gilded seeks to provide customers with the trust to invest in gold and broaden their portfolios.

Professional investors can purchase the product from FAB Private Banking in the United Arab Emirates. Through their current FAB relationship managers, clients can easily buy, manage, and sell their physical gold holdings.

Ashraf Rizvi, CEO of Gilded, stated:  “Offering the Gilded platform through FAB Private Banking will enable clients to purchase and own gold easily and securely, while taking advantage of the liquidity and value that gold offers. We are pleased to be working with FAB to bring this innovative solution to the UAE market.”