Islamic Gold Standard
Posted: November 28th, 2016, 9:57 pm
This is set to be announced on Dec. 6, according to GoldCore.
http://www.goldcore.com/us/gold-blog/is ... ld-market/
The idea seems to be to provide guidance on employing gold in investments in accordance with Shariah law, with the aim of encouraging the use of bullion in products managed under Islamic finance. From GoldCore:
"The new Sharia gold standard will set a future path in place for gold products and those who invest in Sharia-investible assets. Once the Standard is announced on December 6th, we are likely to see increased development of new products due to the increased customer base and some diversification amongst Shariah-compliant offerings which will likely offer options for savings, hedging and diversification. So far, none of these things have been available on a standard Sharia compliant basis."
http://www.goldcore.com/us/gold-blog/is ... ld-market/
The idea seems to be to provide guidance on employing gold in investments in accordance with Shariah law, with the aim of encouraging the use of bullion in products managed under Islamic finance. From GoldCore:
"The new Sharia gold standard will set a future path in place for gold products and those who invest in Sharia-investible assets. Once the Standard is announced on December 6th, we are likely to see increased development of new products due to the increased customer base and some diversification amongst Shariah-compliant offerings which will likely offer options for savings, hedging and diversification. So far, none of these things have been available on a standard Sharia compliant basis."