1. How can my 24K GAP gold be used to purchase 22K or 24K jewellery?

    Your GAP gold is first sold to PGMSB for Malaysian Ringgit (MYR). The resulting MYR proceeds are then used to pay PG Jewel for your selected jewellery. The quantity of GAP gold sold is calculated based on the MYR amount required and therefore does not need to match the weight of the jewellery.

  2. Is this a direct gold for gold exchange?

    No. Your GAP gold is first sold to PGMSB for MYR. You then purchase the selected jewellery from PG Jewel using the MYR proceeds. PGMSB makes the payment to PG Jewel as your authorised payment agent.

  3. Can workmanship and delivery charges also be funded through GAP?

    Yes, provided the proceeds are sufficient. All applicable charges and the required quantity of GAP gold to be sold will be disclosed before you confirm the transaction.

  4. Must the GAP sale proceeds enter my bank account first?

    No. After the GAP Sale is completed, you authorise PGMSB to use the GAP sale proceeds to make the MYR payment directly to PG Jewel on your behalf for your selected jewellery.

  5. Is the Arrangement Shariah-compliant?

    The Arrangement is structured as separate sale transactions together with the appointment of PGMSB as your payment agent. Its Shariah compliance is subject to the proper implementation of the approved structure, including the applicable requirements on ownership, possession and settlement.

    The Arrangement has been reviewed, verified and endorsed by Amanie Advisors, in its capacity as PGMSB’s Shariah Advisor, subject to the applicable terms and conditions and the scope of its written Shariah approval.

    View the Shariah Certificate

  6. Can I cancel the transaction after I confirm at checkout?

    No. Once you authorise the Arrangement, you cannot cancel the GAP Sale or the jewellery purchase, and the jewellery purchased is non-refundable. Please review the jewellery specifications, charges, GAP gold quantity and rate carefully before you confirm. If the purchase cannot be completed, for example because payment to PG Jewel is unsuccessful, the transactions are reversed and the same quantity of GAP gold is credited back to your GAP account.

  7. What records will I receive?

    You will receive or have access to:

    • GAP Sale confirmation showing the quantity of GAP gold sold and corresponding MYR proceeds.
    • Payment confirmation showing the MYR amount paid to PG Jewel.
    • PG Jewel’s jewellery invoice or receipt showing the jewellery purchased and applicable charges.

Illustrative Calculation

These figures are examples only, not current quotations. The example assumes full payment from GAP proceeds and no delivery charge or additional tax.

Description Illustrative Amount
1st Transaction: GAP Sale
Quoted GAP buyback rate MYR 620 per gram
GAP gold sold to PGMSB 5.0000 grams
MYR sale proceeds MYR 3,100
2nd Transaction: Jewellery Purchase
Jewellery retail price MYR 3,000
Workmanship fee MYR 100
Total payable to PG Jewel MYR 3,100
MYR proceeds paid to PG Jewel by PGMSB as payment agent MYR 3,100