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Gold Is Now An Accepted Sharia Investment Under New Islamic Banking Rules

by cityam.com posted 1year ago 2120 views
Gold can now be used as a commodity to back Sharia-based financial products, with rules about using the metal as an investment set out for the first time. The World Gold Council announced the new Sharia gold standard, which sets out the way in which financial institutions can apply Sharia principles in the direct physical handling of gold and in using the metal as an underlying asset in a transaction.