SGX Launches World’s First Shariah-Compliant Gold Futures Contract

[kreslik.news]

Singapore Exchange (SGX) announced today that its Singapore Kilobar Gold Contract has become the world’s first Shariah-compliant gold futures.

To unlock the Asian market, register now to the iFX EXPO in Hong Kong

SGX launched the world’s first exchange-traded, physically delivered wholesale gold futures in October 2014, in partnership with the World Gold Council and the Singapore Bullion Market Association, as reported by Finance Magnates.

As per SGX’s statement, the contract is now certified by Amanie Advisors, an advisory firm specialising in Islamic finance solutions, to be in compliance with the Shariah Standard on Gold as set out by ... (read more)