Gold has become an accepted investment in the Islamic world for the first time as it can now be used as a commodity to back Sharia-based financial products, thanks to new standards announced Monday.

Gold had traditionally been classified as a currency in Islamic finance, confining its use to spot transactions, but new guidance issued in December is making room for a wider range of investment ...

Gold can now be used as a commodity to back Sharia-based financial products, with rules about using the metal as an investment set out for the first time. The World Gold Council announced the new ...

This decision is about one of the most important markets in the world: the gold market, an investable market worth an estimated $2.4 trillion and is also of significance for the world of Islamic ...

During the Medieval period, the city’s strategic position made it a key player in the trade of ivory, textiles, glassware, and gold ... and North Africa, and Islamic rulers in West Africa ...