GoldMoney Inc.
TSX : XAU

GoldMoney Inc.

January 23, 2017 07:30 ET

Goldmoney Inc. Announces Compliance with Shariah Standard on Gold

Goldmoney Network Accounts and Wealth Holdings Endorsed as Shariah-Compliant by Amanie Advisors

TORONTO, ONTARIO--(Marketwired - Jan. 23, 2017) - Goldmoney Inc. (TSX:XAU) ("Goldmoney"), the world's 100% reserved gold-based financial network, today announced that Goldmoney Network accounts and Wealth Holdings have been endorsed as Shariah-compliant by the Shariah Supervisory Board of Amanie Advisors, which issued the fatwa in accordance with the Shariah Standard on Gold set by the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) and developed in cooperation with the World Gold Council.

Islamic investors can now instantly purchase, save, and transact in gold globally on the Goldmoney platform through Shariah-compliant Network accounts and Wealth Holdings.

"Our platform democratizes access to 100% reserved and allocated gold-based savings, payments, and investment solutions, and provides citizens worldwide with the choice to save and transact in a global money that protects their purchasing power and safeguards their wealth," said Josh Crumb, chief strategy officer of Goldmoney Inc. "We implement global best practices in account security, regulatory oversight, and compliance, and are committed to providing current and prospective clients with full platform transparency."

"As a company with an increasingly global client base, our compliance with Shariah law is an important step in our growth, enabling us to expand our offerings to the Islamic market," said Roy Sebag, CEO of Goldmoney Inc. "Gold is a powerful portfolio diversifier, and we're proud to offer Islamic investors superior access to Shariah-compliant gold-based savings, payments, and wealth management services and help further the use of gold bullion in Islamic finance."

Shariah-Compliant Goldmoney Accounts, Products & Services

  • Goldmoney Personal: Self-directed individual savings, payments, and global gold transfers; gold storage and insurance provided without charge up to 1,000 grams.
  • Goldmoney Business: Global payment solutions; enhanced payout and invoicing capabilities; gold storage and insurance provided without charge up to 1,000 grams.
  • Goldmoney Wealth Holdings: Enhanced Goldmoney experience provides access to all precious metals, nine currencies, dedicated Relationship Managers, and the Goldmoney Concierge service.
  • Goldmoney Physical: Physical metal redemption and delivery in the form of coins, GoldCubes™, and bars.
  • Goldmoney Mastercard® Prepaid Cards: Plastic cards available to Network users in USD, EUR, GBP and CHF; 18K gold and silver cards available to Goldmoney Wealth clients in USD, GBP, and EUR.

For more information about Goldmoney's Shariah compliance, visit: goldmoney.com/shariah-compliant.

About Goldmoney Inc.

Goldmoney Inc. (TSX:XAU) is a mission-driven financial technology company that operates the world's largest 100%-reserved gold-based savings and payments network. Goldmoney® provides financial services as a trusted third-party, combining the unique attributes of gold with technology-driven innovation. Through the Goldmoney Network, comprised of Goldmoney Personal and Goldmoney Business, anyone with internet access can buy, sell, transfer, earn, or redeem physical allocated gold. Goldmoney Wealth offers bespoke precious metals custody and wealth services, trading and execution, card services, tax-free retirement accounts and independent research to high net worth individual investors and institutions. Goldmoney Inc. has more than 1.36 million user signups from more than 150 countries and $1.78 billion in client assets (as at January 22, 2017). Goldmoney Network is registered with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC). Goldmoney Wealth is regulated as a Money Services Business by the Jersey Financial Services Commission. For more information about Goldmoney, visit goldmoney.com.

Forward-Looking Statements

This news release contains or refers to certain forward-looking information. Forward-looking information can often be identified by forward-looking words such as "anticipate", "believe", "expect", "plan", "intend", "estimate", "may", "potential" and "will" or similar words suggesting future outcomes, or other expectations, beliefs, plans, objectives, assumptions, intentions or statements about future events or performance. All information other than information regarding historical fact, which addresses activities, events or developments that the Goldmoney Inc. (the "Company") believes, expects or anticipates will or may occur in the future, is forward looking information. Forward-looking information does not constitute historical fact but reflects the current expectations the Company regarding future results or events based on information that is currently available. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, forecasts, projections and other forward-looking information will not occur. Such forward-looking information in this release speak only as of the date hereof.

Forward-looking information in this release includes, but is not limited to, statements with respect to: service times for transactions on the Goldmoney network; growth of the Company's business, expected results of operations, and the market for the Company's products and services and competitive conditions. This forward-looking information is based on reasonable assumptions and estimates of management of the Company at the time it was made, and involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Such factors include, among others: the Company's limited operating history; history of operating losses; future capital needs and uncertainty of additional financing; fluctuations in the market price of the Company's common shares; the effect of government regulation and compliance on the Company and the industry; legal and regulatory change and uncertainty; jurisdictional factors associated with international operations; foreign restrictions on the Company's operations; product development and rapid technological change; dependence on technical infrastructure; protection of intellectual property; use and storage of personal information and compliance with privacy laws; network security risks; risk of system failure or inadequacy; the Company's ability to manage rapid growth; competition; effectiveness of the Company's risk management and internal controls; use of the Company's services for improper or illegal purposes; uninsured and underinsured losses; theft & risk of physical harm to personnel; precious metal trading risks; and volatility of precious metals prices & public interest in precious metals investment; and those risks set out in the Company's most recently filed annual information form, available on SEDAR. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company undertakes no obligation to update or revise any forward-looking information, except as required by law.

Contact Information

  • Media and Investor Relations inquiries:
    Jacquelyn Humphrey
    Director of Global Communications
    Goldmoney Inc.
    jac@goldmoney.com

    Josh Crumb
    Chief Strategy Officer
    Goldmoney Inc.
    +1 647-499-6748