NASDAQ Dubai welcomed the listing today of Dubai Gold Securities (DGS), a unique Shariah-compliant product that gives investors a straightforward route to gain exposure to the price of gold.
DGS can be bought and sold on NASDAQ Dubai just like shares, through one of the exchange's 29 regional and international trading Members, or through another broker that has a relationship with a NASDAQ Dubai trading Member.
DGS are an initiative of the World Gold Council (WGC) and the Dubai Multi Commodities Centre. Similar gold securities have been listed through WGC initiatives on 12 other international exchanges, with gold in trust exceeding 1,200 tonnes. DGS are the only ones listed in the Middle East to have been declared Shariah-compliant by a Shariah Supervisory Board.
Jeff Singer, Chief Executive of NASDAQ Dubai, said: "NASDAQ Dubai is already an established platform for Shariah products and is delighted to welcome today its first Shariah-compliant gold securities.
"As a traditional trading hub for gold in the Middle East, Dubai is a natural venue for listing innovative Shariah-compliant gold products. DGS offer investors an alternative to physical gold and gold futures.
NASDAQ Dubai has a higher value of listed Sukuk (Shariah-compliant bonds) than any other exchange, at $16.4 billion.
About NASDAQ Dubai
NASDAQ Dubai is the international financial exchange serving the region between Western Europe and East Asia. It welcomes regional as well as global issuers that seek regional and international investment. The exchange currently lists shares, derivatives, structured products, Sukuk (Islamic bonds) and conventional bonds.
The majority shareholder of NASDAQ Dubai is Borse Dubai with a two-thirds stake. NASDAQ OMX Group owns one third of the shares. The regulator of NASDAQ Dubai is the Dubai Financial Services Authority (DFSA). NASDAQ Dubai is located in the Dubai International Financial Centre (DIFC). For more information, visit www.nasdaqdubai.com
CONTACT: NASDAQ Dubai
Mark Fisher
00971 4 361 2220
00971 50 624 5805
mark.fisher@nasdaqdubai.com