Dubai Launches Fully Shariah-compliant Gold Shares

Dubai Multi Commodities Centre, a tax free zone of emirate, has announced a joint venture with the World Gold Council to launch fully Shariah-compliant gold shares, Bombay news reported.

Each security will allow investors the opportunity to trade holdings in gold bullion on the Dubai International Financial Exchange in a Shariah-compliant manner.

The shares will provide investors with secure, low-cost access to owning gold bullion without the additional costs normally associated with insuring, storing and transacting in physical gold.