http://www.ameinfo.com/280745.htmlJRG International Brokerage DMCC, a leading broker and clearing member of the Dubai Gold and Commodities Exchange, announced the launch of a novel scheme to encourage savings culture through systematic investment in "Visions of Dubai" gold coins on November 11, 2011.
Central to the Emirates Investor Savings Plan, which seeks to foster an investment culture among both nationals and expatriates, is regular monthly investments, in a format made affordable to all income groups, in "Visions of Dubai" gold coins.
JRG International Chairman and Managing Director Mr. Hazza Mohammed Al Dhaheri, said, "The main objective of Emirates Investor Savings Plan is to promote a systematic investment habit and culture among all categories of investors across the UAE, including both nationals and expatriates. The plan encourages investors ranging from individuals to corporates to be a part of the inclusive economic growth of the UAE."
JRG International has designed the structure of Emirates Investor Savings Plan as a systematic investment scheme — the most useful route for creating long-term wealth — with following features:
- JRG International will declare the price of the gold coin through its website on a daily basis.
- The price of the coin booked that date will be fixed with Dubai Gold and Jewellery Group base price declared by JRG International.
- The total price of gold coin fixed for the month can be paid in 12 equal monthly installments. In other words, by paying 1/12 of the market rate, customer can book the coin and the balance amount can be paid in 11 installments by availing of JRG International's financial support.
- Once the customer completes the 12 installments, the physical gold coin will be delivered from JRG International Dubai Office.
- The Investment Plan is available for all size of "Visions of Dubai" Gold Coin Series such as 1 oz, ½ oz, ¼ oz and 1/10 oz.
- The purchase of the gold coins can be done online at www.eSIP.ae on making payment using credit card/online transfer and the physical coin can be collected from JRG International Delivery Channels.
Will this lead to increased demand for physical gold in the UAE?