FAB Private Banking, a division of First Abu Dhabi Bank (FAB), has partnered with financial technology firm Gilded to launch an innovative new physical gold product – with clients now able to purchase and own institutional quality gold in a simple, secure, and convenient way.
Gilded is a leading financial technology firm specialising in making physical gold functional. Using Gilded’s platform, FAB Private Banking will offer institutional quality physical gold bars to its professional investors, allowing them to conveniently invest in gold without facing the traditional challenges of securing storage, insurance, or authenticity verification.
The Gilded offering is distinct from existing gold-based products such as exchange traded funds (ETFs), where clients own part of a pooled investment as a security. Instead, Gilded provides the benefits of direct physical gold ownership, enhanced with the convenience of digital technology.
Gold bars on the platform are sourced directly from Swiss refineries, meet the highest standards of 0.9999 fineness, are Shar’iah-compliant, and meet London Bullion Market Association (LBMA) gold bar specifications. Each purchase is recorded permanently on a distributed ledger for immutable ownership, and the gold is independently audited and stored in fully insured Brink’s vaults in the UAE.
FAB’s partnership with Gilded brings together one of the world’s oldest and most trusted stores of wealth – gold – with the latest in fintech innovation. As an extension to FAB Private Banking services, clients will now be able to diversify their portfolio with an asset that has been a safe haven for centuries, with ease of purchase, security, and functionality for physical Sharia-compliant gold ownership straight from the FAB platform.
Ashraf Rizvi, CEO of Gilded, said: “Offering the Gilded platform through FAB Private Banking will enable clients to purchase and own gold easily and securely, while taking advantage of the liquidity and value that gold offers. We are pleased to be working with FAB to bring this innovative solution to the UAE market.”
This new physical gold product from FAB Private Banking and Gilded aims to provide clients with the confidence to invest in gold and diversify their portfolios, while the gold itself is held in a secure facility.
The product is available to professional investors at FAB Private Banking in the UAE. Clients can seamlessly purchase, manage, and sell their physical gold holdings through their existing FAB relationship managers.
For more information, please visit www.bankfab.com.
About First Abu Dhabi Bank (FAB)
Headquartered in the United Arab Emirates, First Abu Dhabi Bank is one of the world’s largest and safest financial institutions, with total assets of AED 1.2 trillion (USD 320 billion) as of June-end 2024. In addition to being the largest bank in the UAE and second-largest bank in the Gulf region, FAB operates in 20 markets globally.
FAB provides comprehensive financial services, including Investment Banking, Corporate and Commercial Banking, Consumer Banking, Private Banking, and Global Markets. Listed on the Abu Dhabi Securities Exchange (ADX), FAB is rated Aa3/AA-/AA- by Moody’s, S&P and Fitch respectively, with a stable outlook.
A regional leader in sustainability, FAB has an MSCI rating of ‘A’ and ranks among the top 10% of banks globally according to Refinitiv’s ESG scores, leading in the MENA region. The bank also received a regional-best Low ESG Risk evaluation from Sustainalytics, and the highest CDP score among UAE banks.
