GOLD AE signs landmark deal with Tadhamon International Islamic Bank
- United Arab Emirates: Wednesday, October 31 - 2012 at 13:21
- PRESS RELEASE
Gold Arab Emirate (Gold AE) DMCC, the premier online trader in deliverable gold and silver, has signed a landmark gold allocated account partnership with Tadhamon International Islamic Bank, the biggest bank in Yemen; through its sister company SABAYEK24, in Sana'a-Yemen on October 24, 2012.
The deal underlines the growing awareness among investors in Yemen of the value of gold as a hedge against global inflation, hyperinflation and prolonged financial downturn.
Commenting on the partnership, Mohammad Abu-Alhaj, Charman of Gold AE DMCC & SABAYEK24, said: "TIIB is a perfect partner for us. We remain committed to serving as a key player in the international bullion trading market and this deal is yet another exciting chapter the Gold AE success story."
He added: "Currency wars among different countries as well as uncontrolled printing of money by Central Banks around the world are putting the cash savings and purchasing power of millions of families at risk, considering the impact of the real possibility of their savings being completely wiped out with the unavoidable potential financial depression."
He mentioned: "Gold is a stable investment that can also be used as a form of payment anywhere in the world. It is protected to the usual risk and limitations of other currencies. In fact, gold has been a preferred investment and a more stable form of currency for thousands of years.
A member of World Gold Council (WGC), GOLD AE DMCC partnering with Tadhamon International Islamic Bank in Yemen highlights the increasing focus for the practical benefits of using gold as a currency and a more secure form of investment.
Abu-Alhaj also stated: "Cash savings are constantly at risk of losing value by inflation and upcoming future events whereas gold is more stable and secure, making it a practical choice for investors."
He also mentioned he believes gold standards will be back again.
With these revival thoughts in mind Abu-Alhaj urged investors to 'hedge their savings by buying gold and silver', stating "gold accounts will save countries from he financial crisis in the international markets that are sure to happen."
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