LAHORE – Pakistan Mercantile Exchange Limited and Tameer Microfinance Bank Limited (TMFB) have signed an MoU on introducing a gold-based investment product.

The MoU was signed by Amjad Khan, CEO PMEX, and Tariq Mohar, Deputy CEO Tameer Bank, in the presence of Shazad Dada, Chairman PMEX & CEO Barclays Bank PLC, Pakistan and representatives from both organizations at the PMEX Office in Karachi.

A press release issued after the event stated that the PMEX and TMFB have developed an understanding that TMFB shall introduce and provide an E-Gold products through the trading platform of PMEX to its customers. The investors shall be able to buy/sell gold through TMFB branches/agents and Branchless banking Channels using their Mobile Accounts (M-Wallet) through the trading platform of PMEX.

The proposed product offered by PMEX and TMFB will give an opportunity to the common man to invest in Gold with trust, security and convenience. The lot size for investment in gold will also be very small around 0.001 Tola which will make it conducive for a large population to invest in Gold with their own cash flow ease and convenience.

They would be able to keep their gold in the official custody of PMEX.