UK-Based Shariah-Compliant Gold Trading Platform ‘Minted’ to Launch in July 2020

United Kingdom (UK) based Shariah-compliant gold trading platform, Minted, is set to launch its web and mobile platforms in July 2020. Users would be able to purchase gold either in monthly repayment plans or through an outright payment option through this platform. 

The gold trading platform is expected to operate based on the guidelines issued by the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI). According to local media reports, Minted is also currently developing an auto-investment platform and intends to launch a digital challenger bank in early 2021.

According to Shahad Ahamed, a Co-Founder of Minted, the firm will procure gold from refineries...