Ui? I thought boss PatEagle has post something earlier but hilang post already?

Hello doraemon, don't be mistaken, don't say my colleagues because I am not their staff.

FYI, I invest in many places in big amounts so I know what risk you people are talking about in this forum from March till now with no ending and only full of fear.
As such I got the feel of every investment, you name it.

Here itself I have bought in the region of 7 digits. So I have done lots of investigation before getting involve.
I can say that it is many times safer and better than buying shares.

Too bad if you hear from the people who gave you wrong info. You should personally drop by at the shop and discover yourself to see what is going on.

Can you enlighten us how genneva generate their income?

I think sengih's friend is right. They never use the word blacklist. They just mentioned not sanctioned.

How far does BNM has legal authority over genneva is still in question like what I asked in my previous post.

However if one has prove that genneva is indeed using "investment" as their soliciting act, then BNM and SC does have the authority to step in.

10 August 2012, THE STAR, Nation, Page 33:

Gold traders: It could be a misunderstanding

GEORGE TOWN: Some gold trading companies could have entered Bank Negara’s consumer alert list due to a misunderstanding, said the Gold Bullion Entrepreneurs Association of Malaysia (GBEAM).

GBEAM secretary-general Datuk Joseph Kow said the misunderstanding might have occurred when some customers misunderstood the gold products they had bought from these companies.

“When they make certain queries with Bank Negara regarding their gold purchases, they could have used terms like interest and investment to describe the transactions.

“The terms investment and interest could have triggered Bank Negara’s alert system, prompting it to place these companies under its consumer alert list,” he said.

Kow was commenting on news reports about some gold trading companies that had appeared on the consumer alert list.

He explained that a gold trading company will need a banking licence from the authorities if they are selling gold as a form of investment that generates interest.

However, he said gold trading in the country had been deregulated since 1987.

“There is no need to obtain a licence or approval from Bank Negara to operate a gold trading business in the country.

“A gold trading company only needs to register with the Companies Commission of Malaysia to do business,” Kow said.

It was reported that Bank Negara has blacklisted 77 companies involved in unauthorised and illegal transactions amid reports of RM100mil being lost monthly to commercial crimes.

Source: http://www.gennevaworld.com.my/index.php/g...t-need-licence/

Hmm that means Genneva is lying through their teeth. Hibah don't count as interest ah? Looks the like it, smells like it, sounds like it, but it is not IT. 

Now gold price is falling.. see how long until the pyramid scheme can last? 

Aiyoyo.... Since boss @pateagle say hibah is a gift not promise return. Gift it is...

But why should i buy expensive gold from Genneva rather than normal gold shop?
This is the fourth time i ask the question.....

I buy from Genneva say Rm250 per gram. But i get hibah every month.

I buy from Gold smith shop say Rm200 per gram. I dont have hibah.

So, if I invest in gold, bukan i invest in gold that sell with cheaper price? Or im looking for high price gold investment plus interest returns?

Im confuse...

I have been burned before, thus the research and questions. In my 20+ years interviewing people, I have met almost all kind of people - some tried to mislead, some stretching the truth, some use redirection, some pretend to know by quoting third party sources, etc. Thus, when in doubt, I ask. When I am suspicious, I verify. Hence, facts are welcomed. No assumptions, please.

Pat, are you with Genneva management? Even if you aren't, do tell them, knowledge is power, communication makes you 10x more powerful. What I meant is please do more publicity events so that public is aware of the business model.

---

Added on August 12, 2012, 3:04 pm

I didn't asked her name. FYI, I have never barked at anyone in this forum. I need clarification, I ask questions. Straight forward, isn't it?

As for the fatwa, I have read and reread. I didn't see any non-halal/haram words in it. I have done some reading in e-fatwa, and the committee normally is very specific when it declares their fatwa. For example, they declared forex as haram, ASB as harus. Can somebody clarify?

This is not a sales thread, please do not post any advertise type of post, advertise of service provided including contact.

If want to discuss, discuss it here, not link to others website.

Any such post will be deleted and not welcomed.
As mentioned this is not a sales thread, this is merely a discussion thread.

Quote source is one thing.
But you do not post something like click www.abc....xxx for info. without any discussion in place.

QUOTE(edyek @ Aug 12 2012, 11:17 AM)
Aiyoyo.... Since boss @pateagle say hibah is a gift not promise return. Gift it is...

But why should i buy expensive gold from Genneva rather than normal gold shop?
This is the fourth time i ask the question.....

I buy from Genneva say Rm250 per gram. But i get hibah every month.

I buy from Gold smith shop say Rm200 per gram. I dont have hibah.

So, if I invest in gold, bukan i invest in gold that sell with cheaper price? Or im looking for high price gold investment plus interest returns?

Im confuse...
*

Hi edyek, glad you finally understood -- "hibah is a gift not promise return. Gift it is..." smile.gif

Before I continue, no "boss" here. Just like you and everyone else,
"I am more concerned about the return of my money than the return on my money." — Mark Twain

To continue...
Up to you to buy gold from whoever. The difference is other gold companies don’t offer you Hibah; you only enjoy capital gains if the price of gold (quoted in the international market) appreciates, minus the spread or whatever the other gold traders offer you when you want to sell. It is clearly stated in FAQ section - http://bit.ly/QMebqy

Yes, it can be confusing based on conventional ways of doing business or "investing" mindset. I had a tough time too, had to clear my mind of all I learned to appreciate GENNEVA that is truly out-of-the box thinking. Today GENNEVA's vision has come true and fulfilling their mission as seen at http://bit.ly/QfEIWG ... hence, my sign-off as "Senior Consultant @Work with The World’s Most Innovative Gold Industry Leader" smile.gif

If you seek further clarification, feel free to call me at (xxx) xxx xxxx or text me with your name and phone number, I'll return call as soon as I can.

Meantime, have a blessed GOLDEN week ahead. Cheers! smile.gif

HELP!!!!!!! GENNEVA SINGAPORE is Holding Back the 2% returns for TWO MONTHS already.

IS IT Happening in GENNEVA MALAYSIA ?    

Haven't given up hope yet ? My advice is don't waste your time.

Did you read the link I paste above ? Let me summarise for you :

1. Singapore Genneva is "holding back" payment of interest
2. If want to "sell back" your gold bar, they impose "queue"/"quota". The fastest time to sell is now March 2013
3. Singapore office now everyday full of "investors" making "some scenes".

Go read.....

http://forums.hardwarezone.com.sg/money-mi...ut-3861300.html

http://www.martinlee.sg/genneva-gold/comme...#comment-134344

Dear PatEagle

If you hold your employee's salaries for a few months and added up to $5 millions SGD will you start paying them back or just keep accumulate ? It is happening in Genneva Singapore now. What if the commissions BALLOONED to more than $10 Million ?
What will you do ?

Mr. Pat Lu do not know how to differentiate gold trader and Ponzi scheme agent. If you check the article of Genneva in the newspaper or their facebook, you can find that they are just telling you that they are gold trader but nothing about their ponzi scheme.

They try so hard to destroy their reputation/ image by twisting, fooling, deleting comments which are not favor to them.

GROUND RULES FOR COMMENTS AND DISCUSSION:

1. This FB Page is to update, provide information and knowledge on gold and money to help our consultants and customers make informed decisions. Every person or company have their own view or method of wealth preservation. Please respect that.

2. Positive, constructive, solution-based comments and articles are welcome. Hearsay, gossips and assumptions not backed by evidence will be deleted. Spam, snide racist and religious remarks will be deleted. And no matter how passionate, please mind your language.

Source: https://www.facebook.com/notes/genneva-gold...376260519112143

press release by BNM dated 5/9/2012.

Update on Financial Consumer Alert List

Dear Valued Clients and Friends,
Be assured that your faith in GENNEVA is not misplaced. You are in safe hands.

By now you would have read the report in the Star dated 7 August 2012: 77 companies blacklisted by Bank Negara Malaysia.

Genneva Malaysia Sdn Bhd ("GENNEVA") is a registered gold merchant and not an investment company. The list simply shows that GENNEVA does not fall under the purview of Bank Negara Malaysia (BNM). Buying and selling gold or silver is not under the purview of BNM, thus BNM does not approve or issue any license to any company who wish to conduct such activities. In addition, gold trading is not regulated and the Ministry of Finance has formed a taskforce to regulate the gold trading business in Malaysia. http://www.gennevaworld.com.my/index.php/t...s-good-as-gold/

BNM is merely cautioning the public: "Bank Negara Malaysia advises members of the public to exercise due caution when dealing with companies or individuals that use such acknowledgement letters purportedly issued by Bank Negara Malaysia to solicit investments in financial schemes involving gold and other precious metals." as seen at http://www.bnm.gov.my/index.php?ch=en_pres...ac=2616&lang=en

WE CELEBRATE BNM for cautioning the public. There are 22 gold companies on the list of 77, copycats doing similar business. They do not have the solid standing as GENNEVA has; namely,

► GENNEVA directors have combined experience of 100 years in gold mining, gold trading and marketing.
► GENNEVA has seven branches and four representative offices in Malaysia and Affiliate Partners in five countries -- China, Hongkong, Indonesia, Singapore and The Philippines. (No other homegrown gold trader has that large a network.)
► GENNEVA has more than 50,000 customers (and growing) just in Malaysia. These satisfied customers are backed by over 6,000 committed consultants across the country.
► GENNEVA boasts more than three Billion Ringgit sales turnover.

GENNEVA is here to stay long term. While the misunderstandings and misperceptions are going on, GENNEVA is moving forward like a bullet train. View their newly launched website at http://www.gennevaworld.com.my/ .. and if you are on Facebook, "Like" http://www.facebook.com/GennevaWorld to be updated on the what's happening in the world of gold and money.

Many companies came and gone; and left their clients stranded. We have shown we can ride any crisis even when the price of gold went down. The gold is the hands of the customers.

Be assured that your faith in GENNEVA is not misplaced. You are in safe hands.

Whats the paid up capital of Genneva again?