Bringing you live news and features since 2006 

Source gold and silver ETCs get Shari’ah approval

RELATED TOPICS​

The Source Physical Gold P-ETC (SGLD LN) and Source Physical Silver P-ETC (SSLV LN) have been confirmed, by Amanie, as permissible Islamic investment certificates complying with the requirements of Shari’ah law.

The Source products were approved on 20 May 2011 by a Board of Shari’ah Scholars facilitated by Amanie Islamic Finance Consultancy and Education LLC (Amanie). The Shari’ah Supervisory Board included representation from world-renowned scholars versed in differing schools of fiqh including Dr Mohammed Ali Elgari (Kingdom of Saudi Arabia), Dr Mohd Daud Bakar (Malaysia), Dr Muhammed Amin Ali Qattan (Kuwait), and Dr Osama Al Dereai (Qatar). This Shari’ah Board has been retained by Source as its dedicated Shari’ah Supervisory Board.

Ted Hood, CEO of Source says: “We are delighted to have received Shari’ah approval for the Source Physical Gold and Physical Silver P-ETCs. We have seen increasing demand for robust and efficient precious metals commodity products in the Islamic finance market and, we have worked hard over the past months to deliver to our clients Shari’ah compliant physical precious metals products.”

Latest News

BlackRock s iShares an undisputed leader among European ETF issuers pushed further ahead in Q1 with EUR173 billion in trades..
European ETFs raised USD47 8 billion in Q1 a 15 per cent increase compared to the same period in 2023..
LSEG Lipper s March report finds that globally equity ETFs +EUR113 2 billion enjoyed the highest estimated net inflows for..
Morningstar has published a review of the European ETF market for the first quarter 2024 which finds that it gathered..

Related Articles

etf active trading
Latest Morningstar data shows actively managed ETFs share of the US ETF market rose to 8 5 per cent at...
Kristen Mierzwa, FTSE Russell
Index Investments Group IIG a division within index provider FTSE Russell has extended its range of indices through two new...
ETFs
US ETF issuers of active ETFs are facing an increase in fees from the big custodian firms such as Charles...
Taylor Krystkowiak, Themes ETFs
Themes ETFs opened its doors in December 2023 with an introductory suite of 11 ETFs seven thematic and four fundamental...
Subscribe to the ETF Express newsletter

Subscribe for access to our weekly newsletter, newsletter archive, updates on the site and exclusive email content.

Marketing by