Launched the World Gold Council and the Dubai Multi Commodities Center today, Tuesday, the shares of Dubai gold compliant with Islamic Sharia in an initiative aimed at the events of a qualitative change in the investment sector region.
The parties intend to include the shares of gold in the Dubai International Stock Exchange symbol Gould, having obtained the approval of the authority of the Dubai Financial Services. The Dubai Multi Commodities Center operation and management of this initiative through the Dubai company to manage the assets, an institution wholly owned by the investment center was founded last month and taken from the United Arab Emirates-based. According to Executive President of the World Gold Council, James Burton, the distant goal of the shares of gold traded on the stock exchange backed by the Council aims to remove all barriers that impede investment in gold throughout the world. He added: "The Council's partnership with the Dubai Multi Commodities Center designed to unify the efforts and capabilities to provide for institutions and individuals financial products simple and safe and effective for the circulation of gold in accordance with the provisions of Islamic Sharia." The Proton shares to Dubai for gold investors will provide a secure way and low cost of owning gold bullion without additional costs normally associated with securing and storing quantities of gold and trade in kind. It also will allow these shares to investors with access to precise quantities of gold bullion owned exclusively, as they would for the first time, what chance have the circulation of gold bullion via Dubai International Stock Exchange in accordance with the provisions of Islamic Sharia. For his part, hinted the Executive Chairman of the Dubai Multi Commodities Center Ahmed bin Sulayem that the shares of Dubai gold will allow greater transparency in the gold market in Dubai, also entrenches the status of the Emirate as a financial pioneer in the region. He explained that more importantly, it will enhance the level of integration between the physical commodity markets and financial markets, and meet the growing demand for gold by investors. It should be noted that Dubai's total imports of gold reached 559 tonnes in 2007, market experts believe that this new product will attract investors from around the world, especially Muslim countries.
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