Here are some of the developments we are currently working on and key milestones we have achieved so far
Beyond our current gold mine investments and extensive mining network, we are in the process of acquiring a significant mining operator in Southeast Asia. This strategic addition is crucial, enabling us to take a more direct role in gold mining, reducing dependency on equity partners and collaborators. Furthermore, it will significantly enhance our gold production capabilities and expand our mining network in Southeast Asia, ensuring solid gold support for our platforms.
We are in the process of establishing an Islamic Trust Fund in the United Arab Emirates, which will serve as a foundation for a series of gold-backed bonds developed on established gold bond platforms with leading international banks known for their successful track records. Additionally, the Islamic Trust Fund will engage in investments and development of Islamic Finance projects, including the acquisition of Islamic banks and Islamic Financial Inclusion initiatives, in collaboration with Nobel Laureate Muhammad Yunus.
As part of the larger vision for the gold-backed bond products we are eyeing the wider Middle East market. Starting from the United Arab Emirates (UAE), utilizing the Islamic Trust Fund and the gold bond platforms from leading international banks, the next step is to widen the reach to cover key markets in the region, such as Saudi Arabia, Bahrain, Qatar, Kuwait and Oman to stimulate competition for the gold bonds. We plan to store the physical gold used to back the bonds in the UAE utilizing Transguard facilities.
We prioritize elite partnerships across major corporations, key banking institutions, government entities, and influential multilateral organizations, establishing a foundation of trust essential in finance. Highlighting this strategy, we gain entry via a joint-venture project to a World Bank-issued loan contract, elevating us to the status of official contract holder for a project worth US$17.5 billion. This strategic partnership with the World Bank marks a significant leap in our journey towards global financial innovation and leadership.
