| Q1. | What is eMas-KT? |
| A1. | eMas-KT is a Shariah-compliant gold investment account (‘eMas-KT Account’) through a
digital platform for the purchase and sale of 999.99 purity gold, where transactions will be
backed by physical gold.
The gold will be stored on behalf of the KT Members (‘Customer’), and the Customers can convert their gold into a physical gold for their personal safekeeping, subject to the applicable fees and costs. |
| Q2. | Does eMas-KT offer a multi-level marketing (MLM) system like those found in the gold investment current market? |
| A2. | No, eMas-KT is not an MLM, and it only offers individual gold investment. |
| Q3. | What will happen if the market gold price drops compared to the Customer’s original purchase price? |
| A3. | The market price of gold is always subject to changes based on current economic conditions. Therefore, if the gold market price drops compared to the Customer’s original purchase price, the holding value of the gold of the Customer will also decrease, and any risks leading to changes in gold prices must be borne by the Customer. |
| Q4. | Does eMas-KT offer a referral code system for commission purposes? |
| A4. | No, eMas-KT does not provide referral codes for any commission purposes. |
| Q5. | Can eMas-KT be traded on behalf of a third party? |
| A5. | eMas-KT cannot be traded on behalf of a third party, and all transactions are the responsibility of the Customer. |
| Q6. | Can gold that has been physically converted be pledged at ArRahnu-KT? |
| A6. | Yes, gold that has been physically converted can be pledged at ArRahnu-KT and any Ar-Rahnu based on the terms and conditions of the provider |
| Q7. | Is KT responsible for storing the gold purchased by the Customers on the digital platform? |
| A7. | No, the gold purchased by the Customers on the digital platform will be stored by the appointed security vault provider who is responsible for safeguarding the gold until the gold is converted into a physical gold by the Customer. |
| REGISTRATION | |
| Q8. | Who eligible to open the eMas-KT Account? |
| A8. | KT’s members with KT Online are eligible to open an eMas-KT Account. |
| Q9. | What is the initial process for the Customer to purchase and sell at the digital platform? |
| A9. | To initiate any transaction on the digital platform, the Customers need to set a transaction security code, which will be used for each transaction. |
| Q10. | Can Customers change their transaction security code? |
| A10. | Yes, the Customers can change their transaction security code at any time without any limit |
| TRANSACTION | |
| Q11. | Can Customers make eMas-KT transactions directly at KT counters? |
| A11. | No, the Customers cannot make transactions directly at KT counters because the offering of this product is only through the digital platform. |
| Q12. | Can payments for gold purchases and receipts for gold sales be made through the KT Savings Account? |
| A12. | No, currently, all payments and receipts for gold transactions are not available through the KT Savings Account. However, the digital platform provides Financial Process Exchange (FPX) method with various bank options in Malaysia. |
| Q13. | Can Customers make any transactions after the operating hours of eMas-KT? |
| A13. | No transactions are allowed after the end of the operating hours, starting from midnight until 7:59 in the morning. However, the Customers can still access the digital platform for review purposes. |
| Q14. | Are Customers allowed to place future orders for eMas-KT? |
| A14. | No, the feature is not available at the moment. |
| Q15. | Where should Customer report to in the event if the Customer is unable to access to the eMas-KT Account? |
| A15. | For any technical issues/problems related to eMas-KT Account, the Customer may report to KT’s Customer Care. |
| Q16. | What form of value for the gold storage in eMas-KT Account? |
| A16. | The value storage in eMas-KT Account is in the form of grams of gold, which the value of gold changes according to the current market prices. |
| CONVERSION OF PHYSICAL GOLD | |
| Q17. | What should the Customers do if they want to convert into a physical gold? |
| A17. | Customers who want to convert into a physical gold need to complete the conversion application through KT Online on the digital trading platform and make the necessary payment for the fees and charges. |
| Q18. | Does every gold purchase need to be converted into physical gold? |
| A18. | No, every gold purchase does not need to be converted into physical gold. Instead, Customers can also resell the purchased gold to KT at the buying price at that time. |
| Q19. | For how long can the purchased gold be stored until physical conversion is made? |
| A19. | There is no specific time limit for the storage of gold until physical conversion. However, storage fees will be applied every month based on the amount (grams) of gold until it is converted into a physical gold. |
| Q20. | Why is there a charge imposed for the conversion of physical gold? |
| A20. | The charge for the conversion of physical gold is applied because when gold purchases are made and stored by the safe deposit box provider, the gold is in the form of cast gold bars. When the Customers apply for physical conversion, these cast gold bars will be processed into minted gold bars, which are more valuable for storage and future sales. |
| Q21. | Are Customers given the option to choose the design for the conversion of physical gold? |
| A21. | No, the Customers are not given the option to choose the design for the conversion of physical gold, as it is provided based on the selected grams of gold. |
| Q22. | What is the minimum and maximum value for the conversion of physical gold? |
| A22. | The minimum value for the conversion of physical gold is as low as 0.5 grams, and the maximum is up to 100 grams. |
| Q23. | Can Customer resell the physically converted gold to KT? |
| A23. | No, physically converted gold cannot be resold to KT. However, KT offers Ar-Rahnu products for the purpose of pawning the physical gold. |
| Q24. | What are the fees and charges to be borne? |
| A24. | The fees and charges for the conversion of physical gold vary based on the grams of gold. Please refer to our website for more information regarding fees and charges. |
| Q25. | How long does it take for the recipient to convert the physical gold?? |
| A25. | After the Customers complete the physical gold conversion application, the Customers will receive the physical gold within a period of five (5) to seven (7) working days. |
| Q26. | What should the Customers do if they do not receive the physical gold within the specified period? |
| A26. | If the Customers do not receive the physical gold within the specified period, they should contact KT Customer Care at 03-2303 0000 and, at the same time, lodge a police report for further action. |
| Q27. | Who is responsible in the event of loss of physical gold during delivery? |
| A27. | In the event of loss of the physical gold during delivery, the Takaful/Insurance party will be responsible, and the Customers need not worry as the gold is always protected. |