The guidelines will help to increase acceptance of gold products among Islamic investors while giving Islamic banks new liquidity-management tools, said Hamed Hassan Merah, secretary-general of AAOIFI. DUBAI: Islamic finance experts have developed new rules for gold transactions, they said on Monday, potentially opening the way for Islamic institutions to trade gold and silver much more actively. Gold transactions must be fully backed by physical metal and settled on the same day, the developers of the new guidance said, to observe Islam’s distinction between real economic activity and speculation.
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