AAOIFI Shariah Standards
Gold and Its Trading Parameters in Shariah: Appendix B - The Shariah Basis for the Standard
The basis for fungibility of gold is its conformity with the definition of fungibles (fungible items), which are measured in terms of weight or counting. The value of gold is determined and measured by weight. In case gold is in the form of coins, i.e., minted currencies, individual units are identical in weight, a feature common in fungibles.
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