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المصري اليوم
Risks of gold installment plans
Economic expert Saeed Imbabi warned of the risks associated with installment purchases of gold and silver through consumer finance, noting that these metals are a means of hedging and saving, not a direct consumer good. He explained that converting gold into cash through financing exposes customers to paying high interest rates, which can reach 2% monthly (24% annually) or 3% monthly (36% annually), significantly increasing the purchase costs. He pointed out that the price of a 100-gram gold bar may be around 730,000 pounds, but after interest, it could reach one million pounds. He cautioned against ignoring the total cost before taking a loan.
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