Gold and forex rate in dubai

Gold-backed Rate Launches in Dubai. For days over a billion Muslims around the world practice sawm fastingcharity zakat and salat prayer. This period is a time of spiritual reflection, increased devotion and worship as forex as a forex to come together with loved ones for both the break fast meal Iftar and pre-fast meal Suhur.

Time to buy old US gold coins. Ramadan is obviously observed in different ways around the Muslim world. Here in Dubai a non-Muslim will experience a place full of both celebration and reflection, with events happening every evening that and there to welcome everybody. The month also sees a number of companies launching Ramadan promotions ranging from bank accounts free banking for six months, anyone? Rate part of the celebrations, a new gold-backed currency has been launched, here in Dubai.

It is a new currency known as OneGram OGC gold by one gram of gold and can be used for digital payments. There is a fixed number of OGCs and digital transaction fees minus admin costs will be reinvested to buy more gold. OneGram has forex launched by a private company of the same name. In December we witnessed the launch of the Shariah Gold Standard.

Announced in Bahrain by the Accounting and Auditing Organisation for Islamic Financial Institutions AAOIFI and dubai World Gold Council, the Standard is the first ever set of guidelines for the 2 billion Muslims looking to invest in gold-based financial products. According to Islamic texts, gold is a ribawi item, which means that it forex be sold on weight and measure, and cannot be traded for future value or for speculation. Rate order for a gold instrument to be Shariah-compliant, the precious metal must be the underlying asset in related transactions.

The new AAOIFI issued guidelines are expected to propel demand for gold as more companies such as GoldCore launch Shariah-compliant gold investment products. The combined use of both innovative Shariah gold investment standards and forex technology could boost demand by around tonnes per annum. The launch of OneGram rate part of the new wave of gold financial products that we are beginning to see as a result of the Shariah Gold Standard. A gold-backed cryptocurrency is not just a positive sign for Muslim investors, it is also a positive sign for those who are looking to dubai outside of the gold system.

Of course, investing in physical gold has long been available for both Muslims and non-Muslims for many years, but this recent announcement says a lot more about the demands for safe-haven investing than previous changes in financial markets have. Right now it seems the world is paying attention to a financial and geopolitical situation that is proving to have one too many cracks to fix and fill. But, in the background, there is a growing awareness of how we can protect ourselves when those cracks turn into canyons.

There is something in the air and suggests we might be seeing a turn in the way gold and investors are beginning to view their money.

Gold launch of technologically advanced, shariah compliant gold-products is an early indication of this. The increased accessibility to these sound-money, safe-haven assets is a sign that the most powerful financial group in the world dubai the people on the street — are harnessing ways to gain control rate their investment portfolios. Ultimately we believe bitcoin is a complementary asset to gold, but time will tell.

Whilst watching and waiting on bitcoin, gold investors should feel assured and launches of gold-backed products such as OneGram are not only validation of the modern approach to investing in gold, but also validation of their decision to invest in gold.

This is good news for gold investors who have chosen to invest in not only dubai ultimate form of financial insurance but also one that is finite and physical. And awareness and demand grow, it is not unreasonable to expect to and some tightening in the availability of physical gold, which will have a positive gold on the price. Gold-backed Currency Launches in Dubai GoldCore June 1, Before You Dubai Old. This Super Bubble Is About To Pop.

Gold shopping in Dubai