African Gold Cryptocurrency

The Bank of Makkah & Al Madinah will trade in its own “African Gold Cryptocurrency.” This currency takes the form of a “protected” two-ounce Gold Coin that resides concurrently in the physical and digital worlds.

This will be the only crypto currency that is fully-backed by its own gold content as well as guarantees from The Bank of Makkah & Al Madinah. The value will float based upon the spot price of gold and the demand for the collectable designs.

Selected foreign currencies including the United States Dollar, the European Euro, the Japanese Yen, the British Pound Sterling, and the Australian Dollar, will be traded at The Bank of Makkah & Al Madinah.

This capability will enhance the liquidity of investment flows into and out of the African continent.

Ready access to these currencies will allow Africa to better participate on the world stage of international commerce. As well, currency trading will present new investment opportunities for bank customers and support foreign investment on several levels including hedging