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Dubai Gold Securities listed on Nasdaq Dubai

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Nasdaq Dubai has welcomed the listing of Dubai Gold Securities, a Shariah-compliant exchange traded commodity product that gives investors a straightforward route to gain exposure to th

Nasdaq Dubai has welcomed the listing of Dubai Gold Securities, a Shariah-compliant exchange traded commodity product that gives investors a straightforward route to gain exposure to the price of gold.

Dubai Gold Securities can be bought and sold on Nasdaq Dubai just like shares, through one of the exchange’s 29 regional and international trading members, or through a broker that has a relationship with a Nasdaq Dubai trading member.

The product is a joint initiative by the World Gold Council and the Dubai Multi Commodities Centre. Similar gold securities have been listed through the council’s activities on 12 other international exchanges, with gold in trust exceeding 1,200 tonnes.

Dubai Gold Securities are the only ones listed in the Middle East to have been declared Shariah-compliant by a Shariah supervisory board, although other exchange traded commodities listed in Europe by ETF Securities have been declared Shariah-compliant.

Jeff Singer, chief executive of Nasdaq Dubai (pictured), says: "Nasdaq Dubai is already an established platform for Shariah products and is delighted to welcome today its first Shariah-compliant gold securities.

"As a traditional trading hub for gold in the Middle East, Dubai is a natural venue for listing innovative Shariah-compliant gold products. DGS offer investors an alternative to physical gold and gold futures."

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