The first-ever gold bullion ATM on the island will be exhibited in the Jewellery Arabia 2019 on November 19th.  

The director of Arihant Jewelry Company, Anand Vasa, exclusively told Albilad newspaper that the device will enable customers to easily buy gold bullions.

Vasa explained that the device, Gold Mine, is an ATM through which the customer can buy gold bullions and the payment can be made through bank cards, credit cards and digital mobile wallet (bwallet). He noted that the National e-Wallet for Smartphones (BenefitPay) will soon be added.

The director of Arihant Jewelry Company added that the device will be exhibited for the first time in the Kingdom on November 19 at the Jewellery Arabia 2019.

“This is the first idea in Bahrain in this field and it will be globally marketed from Bahrain. Our company has a number of ideas for the integration of technology and gold, and from this point came to its participation in GITEX 2019 which was recently set up in Dubai to offer an ATM to sell gold,”

Vasa explained that the device is working with technology and one can buy 10 different weights of gold bullions. The price of gold bullions, he explained, will be linked to the international average price of gold.

He confirmed that the device provides protection for the customer, as it contains systems requiring the customer smart card or passport to buy gold bullions. He noted that the device will use face recognition technology with the document provided (smart card or passport) as well as a printer to print a warranty for the customer.

As for the places of the device, Vasa said that the idea is to have the device in the main places in the Kingdom, including duty-free shops at Bahrain International Airport as a tourist destination, especially that Bahrain, he assured, is famous for quality gold. There are plans, he stated, to sign contracts with major commercial complexes to install the device in.

Vasa explained that the device is safe especially that the bullion will be hidden in it and will not be displayed in front of the public, where the device will contain a screen in two languages (Arabic and English) from which the customer chooses the bullion that he wants to buy, the number and the weights.