Tadawul: Dubai Gold and Commodities Exchange to Provide Pricing for Shariah-Compliant Gold-Backed Exchange Traded Fund

The Dubai Gold and Commodities Exchange (DGCX) has partnered with Saudi Arabia based Albilad Capital (Albilad) to provide pricing data for Albilad’s new Shariah-compliant, gold-backed exchange traded fund (ETF) listed on Saudi Arabia’s Tadawul Exchange. The DGCX stated that the partnership intends to strengthen gold and Islamic finance markets across the region.

The Chief Executive Officer of the DGCX, Les Male, stated that there has been significant investor interest for gold, particularly during crisis situations, albeit with limited access to Islamic investment portfolios.

Male added that investors can now easily own and trade gold in compliance with Shariah guideline...