New Islamic Gold Market Law

islamic gold law

Laws are changing… let’s see how this plays out on the gold market.

Gold is acceptable for the first time as an investment in Islamic finance after the group that sets standards for the industry adopted Shariah-compliant rules for trading the metal.

The rules approved Nov. 19 allow gold to be used in the $1.88 trillion Islamic finance business, the Accounting and Auditing Organization for Islamic Financial Institutions said Monday in a statement. The AAOIFI developed the standards with help from the producer-funded World Gold Council, which has said the new rules could spur demand for “hundreds of tons” of gold.

http://www.bloomberg.com/news/videos/2016-12-06/new-gold-standard-for-islamic-finance

 

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