Tameer Microfinance Bank Limited (TMFB) has partnered with PMEX to introduce Milli Tola Gold contracts via their Sarmaya centers to make them available for the masses for which the first transaction was conducted by Mr. Nadeem Hussain (Founder, President and CEO) of Tameer Microfinance Bank at PMEX premises.
PMEX and TMFB had signed a Memorandum of Understanding in March 2013 to offer a gold based product which would give opportunity to all income strata to invest in gold with trust, security and convenience. The product is now available in small lot sizes, which will make it conducive for people to invest in gold with cash flow ease and convenience and save it securely in PMEX’s custody.
Commenting on the occasion, Mr. Ejaz Ali Shah, Managing Director PMEX, said, “We are pleased to add another flagship product in our portfolio, which is aimed at every Pakistani investor. On one hand, it enables every Pakistani to invest in gold to build savings with convenience, security and ease of liquidity. On the other hand, it offers a huge opportunity to PMEX brokers to expand their business by offering services to a much wider market segment. This can be accomplished by cultivating partners having access to the customers like credit cards and telecom companies in order to take this product to every house in Pakistan. PMEX will remain committed towards creating value for all stakeholders in future as well.”
Speaking on the occasion, Mr Nadeem Hussain, Founder, President and CEO, Tameer Micro Finance Bank said, “We are extremely pleased at this ground breaking achievement, the first of its kind in the Pakistani market, which will help create financial inclusion through small savings and investments in gold. We see such initiatives as catalysts to help achieve our vision of creating socio-economic empowerment.”
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