Yes. If something happens to Quantum Metal your gold in the gold vault will still be your gold. The company liquidator will sell the gold, deduct the administrative fees owed and return the cash value to you according to the market price on the day of sale.
No funds are collected by EION Management. All transactions are transacted securely via the FPX payment gateway within Quantum Metal’s gold investment platform.
Quantum Metal’s Gold is certified Shariah Compliant by ISRA Consulting which is registered with Securities Commission of Malaysia. ISRA Consulting is established by ISRA, a wholly-owned subsidiary company of Bank Negara Malaysia. All operations and processes are in line with the Shariah Standard on gold. The Shariah Standard on gold was developed together with the Accounting and Auditing Organisation for Islamic Financial Institutions (AAOIFI), the World Gold Council and Bursa Suq Al-Sila.
Quantum Metal meets two very important conditions:
It’s backed by physical Gold, and
The process of buying and selling physical gold is completed in the time allowed by the standard.
Your Quantum Metal account is not a bank account but work similarly to it. While you hold your currency at the bank, you hold gold as a currency in Quantum Metal.
The gold currency can only be used to:
Re-purchase in other gold products within Quantum Metal, and
The value can be withdrawn in the form of your local currency at your convenience to your bank account.
All Quantum Metal’s gold transaction records are independently audited by ISRA Consulting that is fully owned by ISRA, a subsidiary of Bank Negara Malaysia and is registered with the Securities Commission of Malaysia.