MALAYSIA: Al Rajhi Bank Malaysia is targeting sales of up to RM100 million (US$31.89 million) for its gold investment product by the end of this year, according to Yasmin Junus, its head of affluent banking.
The bank’s gold investment business meets the needs of investors with medium risk appetite with returns that range from 5-20%.
Assets under management at its wealth management division have increased by 207% since 2010, with its gold investment product contributing 90% of that growth.