dgcx ayedh dejem group to launch region’s first shariahcompliant spot gold contract
Sunday 27 July 2025
Last Updated : GMT 09:40:38
Themuslimchronicle, themuslimchronicle

DGCX, Ayedh Dejem Group to launch region’s first Shariah-compliant spot gold contract

Themuslimchronicle, themuslimchronicle

Themuslimchronicle, themuslimchronicleDGCX, Ayedh Dejem Group to launch region’s first Shariah-compliant spot gold contract

DGCX, Ayedh Dejem Group to launch region’s first Shariah-compliant spot gold contract
Dubai - Musimchronicle

The Dubai Gold & Commodities Exchange, DGCX, and Ayedh Dejem Group, a conglomerate from the Kingdom of Saudi Arabia, have agreed to develop and launch the Middle East’s first-ever Shariah-compliant spot gold contract to be traded on an international exchange.

The partnership enables both entities to increase their presence in the Saudi Arabian and wider GCC Islamic finance market, and attract the interest of regional Islamic financial institutions and banks. This development is reflective of the growing potential of the Saudi Arabian and wider GCC regions’ Shariah-compliant gold markets.

According to the World Gold Council, Saudi Arabia’s gold demand stood between 60 and 85 tonnes. This is the highest in the Middle East and sixth in the world, representing almost 30 percent of demand across the region. Shariah-compliant gold investments are worth an estimated USD$2 trillion, which means the decision to launch this new contract is ideally timed.

Gaurang Desai, Chief Executive Officer of the DGCX, said, "We are looking at this product to develop local markets and unlock the potential of gold trading in the region. We continually look to work with partners that allow us to capitalise on these opportunities. We are delighted to collaborate with the Ayedh Dejem Group as we believe the new spot gold contract will encourage new and existing institutional participants to invest and trade in Shariah-compliant products. As the largest derivatives bourse in the Middle East, we are confident of the product’s success and establishing more such partnerships and launching additional products in the future."

Ayedh Bin Dejem, Chairman of the Group, said, "We are committed to delivering high- quality products and services to our customers, and, in addition, this partnership is further evidence of how we are contributing to the growth of the Islamic finance market. We believe our partnership with DGCX supports our vision to enhance cross-border collaboration as it offers access to the regional gold and commodities market, providing customers with improved hedging and investment solutions in compliance with Shariah law."

"Bringing Shariah-compliant products to a wider audience will continue to garner interest from the local populous as well as other global entities that are looking for a route into the newest and fastest-growing sector of the mainstream financial markets. Amanie Advisors LLC, the leading global Islamic finance advisory firm, has been selected to advise on the initiative," Desai informed.

themuslimchronicle
themuslimchronicle

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

dgcx ayedh dejem group to launch region’s first shariahcompliant spot gold contract dgcx ayedh dejem group to launch region’s first shariahcompliant spot gold contract

 



Themuslimchronicle, themuslimchronicle

GMT 18:42 2017 Tuesday ,31 October

Shortfall in climate action is 'catastrophic': UN

GMT 16:27 2018 Friday ,19 January

US urges Turkey not attack Syria’s Afrin

GMT 13:25 2017 Saturday ,17 June

ArcelorMittal gets green light to buy Italy's Ilva

GMT 09:05 2017 Wednesday ,27 September

Heidi Karam happy for “Seventh Neighbor”

GMT 10:41 2017 Monday ,20 February

Pelicans' Davis grabs All-Star MVP on home court

GMT 12:35 2011 Sunday ,12 June

Syracuse University opens information centre

GMT 16:22 2015 Monday ,23 March

ECB says it bought €26.3bn of bonds in 10 days

GMT 08:56 2015 Wednesday ,04 March

WWII Japanese ship found in Philippines

GMT 00:30 2016 Monday ,19 December

6.0 Magnitude Earthquake Hits Solomon Islands

GMT 07:20 2015 Tuesday ,22 September

Pope Tawadros greets Azhar Imam on Eid al-Adha

GMT 14:35 2014 Wednesday ,27 August

School leaders are experts in developing education

GMT 13:14 2016 Thursday ,21 January

General Motors Launches Personal Mobility Brand

GMT 11:28 2017 Saturday ,02 December

Al-Najma Club's Asian handball title hailed

GMT 06:35 2017 Wednesday ,27 December

Infograph three

GMT 06:28 2015 Wednesday ,04 February

Creamy cod chowder stew

GMT 10:44 2017 Wednesday ,06 September

Gangs may be laundering billions via EU banks

GMT 11:56 2017 Thursday ,22 June

IS destroys iconic Mosul minaret

GMT 11:00 2017 Saturday ,02 December

Yemen rebel ally Saleh says open to talks with Saudis
Themuslimchronicle, themuslimchronicle
Themuslimchronicle, themuslimchronicle
 
 Themuslimchronicle Facebook,themuslimchronicle facebook  Themuslimchronicle Twitter,themuslimchronicle twitter Themuslimchronicle Rss,themuslimchronicle rss  Themuslimchronicle Youtube,themuslimchronicle youtube  Themuslimchronicle Youtube,themuslimchronicle youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©

muslimchronicle muslimchronicle muslimchronicle muslimchronicle
themuslimchronicle themuslimchronicle themuslimchronicle
themuslimchronicle
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
themuslimchronicle, themuslimchronicle, themuslimchronicle