Tuesday, March 5, 2024
Editor's PickGilded obtains Fatwa for gold product to boost MENA expansion

Gilded obtains Fatwa for gold product to boost MENA expansion

UAE-based Gilded, a gold digital investment platform, has secured a Shariah compliance certification for its investment offering to strengthen its proposition and reach in the MENA region.

The certification was issued by Amanie Advisors, confirming that Gilded’s offering conforms with the standards set by the Accounting and Auditing Organization for Islamic Financial Institutions, or AAOIFI, on gold.

“The MENA region is a key strategic market for us, and this certification will enable us to offer our Shariah compliant gold investment opportunities to a broader range of investors seeking a safe, secure, and convenient platform. This certification further strengthens our position as a trusted provider of Shariah compliant investment solutions and opens new growth opportunities for our company,” said Firas Mallah, Gilded’s CEO of MENA.

Founded in 2019 by Ashraf Rizvi, Gilded has since built a presence in the US, Switzerland, Jersey and Channel Islands as well as the UAE. Prior to founding Gilded, Ashraf was the co-founder and managing partner of SummerHaven Investment Management, a commodities management firm overseeing nearly US$2 billion in assets.

Gilded’s platform allows clients to purchase and sell gold bars. The Islamic fintech company says the bars are ethically sourced through Swiss refiners, .9999 pure and satisfy London Bullion Market Association standards. The bars are stored in insured Brinks vaults and independently audited.

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