Vision & Roadmap

There is a saying by a famous banker that "give me control of a nation's money supply and I don't care who makes the laws". Control of money and finance is perhaps the most cogent instrument of exerting authority over others, and is the prime motivation behind all geo-political tensions and competition among world powers.

It is for this reason, and in line with the true spirit of laissez-fair and free-market, that sound money addvocates promote the idea of commodity-based money, which completely precludes anyone's ability to exploit or abuse the power of monetary control, be they governments, corporations, or individuals.

Muslims, not surprisingly, will be quick to identify that many of the conclusions reached at by some visionary western monetary reformists and advocates of sound money, fall strictly in line with the teachings of the Quran and Sunnah related to Islamic economic and financing principles. While the western nations are yet to realize the benefit of interest-free economy, at least they acknowledge the importance of full-reserve principle in banking of having all money backed by physical commodities.

The vision of eGold is to establish a new breed of financial instiutions, those whose financial activities are backed by physical Gold and Silver, and which operate fully on the Islamic principles of 0% Interest rate.

This task, of transitioning to an Islamic economy, will be a long and arduous one, and will take the involvement of all segments of the society, especially the business, financial and government, as well as the whole society in its totality, down to the common man.  Here we describe the vision and roadmap of steps which eGold is planning to take in this direction.

Phase 1:

In the the first phase, we plan to start off as a retail seller of Gold and Silver coins and bullion. This will enable those sympathetic to the cause of reviving a fair Islamic economy, to start with the first step of hedging their money on physical commodities. People are encouraged to use these coins when taking out zakat or charity work, as well as try to use it as a medium of barter exchange between themselves.

Phase 2:

 In the second phase, we will obtain license from Securities and Exchange commission to operate as a non-banking finance company, and allow people to participate in gold and silver pool accounts, which will be backed by 100% gold and silver at all times. This will allow a more cost-effective mechanism for people to invest in bullion, without the over-head associated with purchasing coins, which usually have a seigniorage associated with, and reduction of which is beyond eGold's current means, as we ourselves will be obtaining them from dealers and retailers. We will also take eGold IPO at this stage, so that more and more people can obtain ownership of the company, and participate in enhancing and developing this model further.

Phase 3:

In the third phase, we will start offering exchange and transfer of owernship in the pool account, which will further facilitate bartering capabitlies in gold and silver, so people can have the benefit of both investment as well as consumption at the same time.

Phase 4:

In this phase, we will enhance our financial services from a non-banking finance institution to a full fledged commerical bank (regulations permitting), and start offering all the same products and services which regular banks offer, except that these will be denominated in gold and silver, and will operate without interest on complete Shariah-compliant principles.

We encourage all technocrats, financial experts and investors to join hands with us in this endeavour, and be a part of it. Please email info@egold.pk for more information.