{"id":13020,"date":"2011-05-31T09:10:00","date_gmt":"2011-05-31T08:10:00","guid":{"rendered":"http:\/\/starthostunlimiteddmffassi-ss.stackstaging.com\/etfworld.co.uk\/index.php\/2011\/05\/31\/two-etfs-receive-shariah-approval\/"},"modified":"2025-05-23T17:24:09","modified_gmt":"2025-05-23T15:24:09","slug":"two-etfs-receive-shariah-approval","status":"publish","type":"post","link":"https:\/\/www.etfworld.com\/nl\/two-etfs-receive-shariah-approval\/","title":{"rendered":"Two ETFs receive Shari\u2019ah approval"},"content":{"rendered":"<p style=\"text-align: justify;\">Source Physical Gold P-ETC and Source Physical Silver P-ETC receive Shari\u2019ah approval<span lang=\"en-GB\">&#8230;<\/span><\/p>\n<p>  <!--more-->  <\/p>\n<ul> <\/ul>\n<p> <strong><equity><\/equity><\/strong><\/p>\n<ol> <\/ol>\n<hr \/>\n<p>Sign up for our weekly Newsletter and receive the latest ETF and ETC    news.<\/p>\n<p style=\"text-align: justify;\"><a href=\"index.php?option=com_acymailing&#038;view=user&#038;Itemid=1016\"><strong>Click    here to register for your free copy <\/strong><\/a><\/p>\n<hr \/>\n<p style=\"text-align: justify;\">Source, the US$8.7 BN specialist provider of Exchange Traded Products (ETPs) working in partnership with BofA Merrill Lynch, Goldman Sachs, J.P. Morgan, Morgan Stanley, Nomura, and other market makers, is pleased to announce that its Source Physical Gold P-ETC (SGLD LN) and Source Physical Silver P-ETC (SSLV LN) have been confirmed, by Amanie, as permissible Islamic investment certificates complying with the requirements of Shari\u2019ah law.<\/p>\n<p>The Source products were approved on 20th May 2011 by a Board of Shari\u2019ah Scholars facilitated by Amanie Islamic Finance Consultancy and Education LLC (\u201cAmanie\u201d). The Shari\u2019ah Supervisory Board included representation from world-renowned scholars versed in differing schools of fiqh including Dr. Mohammed Ali Elgari (Kingdom of Saudi Arabia), Dr. Mohd Daud Bakar (Malaysia), Dr. Muhammed Amin Ali Qattan (Kuwait), and Dr. Osama Al Dereai (Qatar). This Shari\u2019ah Board has been retained by Source as its dedicated Shari\u2019ah Supervisory Board (Please see below for board member biographies).<\/p>\n<p>Ted Hood, CEO of Source commented: \u201cWe are delighted to have received Shari\u2019ah approval for the Source Physical Gold and Physical Silver P-ETCs. We have seen increasing demand for robust and efficient precious metals commodity products in the Islamic finance market and, we have worked hard over the past months to deliver to our clients Shari\u2019ah compliant physical precious metals products.\u201d<\/p>\n<p style=\"text-align: justify;\">\n<p style=\"text-align: justify;\">\n<table style=\"width: 500px;\" border=\"0\" cellpadding=\"0\" cellspacing=\"0\">\n<tbody style=\"text-align: left;\">\n<tr style=\"text-align: left;\">\n<td style=\"border: 1px solid #9ab62f; background-color: #9ab62f;\">\n<p style=\"text-align: justify;\"><span style=\"color: #ffffff;\"><strong>Name<\/strong><\/span><\/p>\n<\/td>\n<td style=\"border: 1px solid #9ab62f; background-color: #9ab62f;\">\n<p style=\"text-align: justify;\"><span style=\"color: #ffffff;\"><strong>BBG Ticker<\/strong><\/span><\/p>\n<\/td>\n<td style=\"border: 1px solid #9ab62f; background-color: #9ab62f;\">\n<p style=\"text-align: justify;\"><span style=\"color: #ffffff;\"><strong>Exchanges<\/strong><\/span><\/p>\n<\/td>\n<td style=\"border: 1px solid #9ab62f; background-color: #9ab62f;\">\n<p style=\"text-align: justify;\"><span style=\"color: #ffffff;\"><strong>Fixed fee<\/strong><\/span><\/p>\n<\/td>\n<\/tr>\n<tr style=\"text-align: left;\">\n<td style=\"border: 1px solid #9ab62f;\">\n<p style=\"text-align: justify;\">Source Physical Gold P-ETC<\/p>\n<\/td>\n<td style=\"border: 1px solid #9ab62f;\">\n<p style=\"text-align: justify;\">SGLD LN \/ SGLD SW<\/p>\n<\/td>\n<td style=\"border: 1px solid #9ab62f;\">\n<p style=\"text-align: justify;\">LSE \/ SIX<\/p>\n<\/td>\n<td style=\"border: 1px solid #9ab62f;\">\n<p style=\"text-align: justify;\">0.29% p.a.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p style=\"text-align: justify;\">\n<p style=\"text-align: justify;\">Following this approval, the Source Physical Gold P-ETC is now one of the largest Shari\u2019ah compliant physical gold products globally, with over US$1.2 BN in assets. Like all Source P-ETCs, the certificate is backed by uniquely allocated, referenced metal, in this case gold bullion, and is priced off the spot price of gold provided by the London Bullion Market. Source is also exploring Shari\u2019ah compliance in the Source Physical Platinum and Physical Palladium P-ETCs given strong demand from the Middle East region for its physical precious metals offering.<\/p>\n<p>Source: ETFWorld &#8211; Source ETF<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Source Physical Gold P-ETC and Source Physical Silver P-ETC receive Shari\u2019ah approval&#8230;<\/p>\n","protected":false},"author":3,"featured_media":16933,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"telegram_tosend":false,"telegram_tosend_message":"","telegram_tosend_target":0,"footnotes":"","_wpscp_schedule_draft_date":"","_wpscp_schedule_republish_date":"","_wpscppro_advance_schedule":false,"_wpscppro_advance_schedule_date":"","_wpscppro_dont_share_socialmedia":false,"_wpscppro_custom_social_share_image":0,"_facebook_share_type":"","_twitter_share_type":"","_linkedin_share_type":"","_pinterest_share_type":"","_linkedin_share_type_page":"","_instagram_share_type":"","_medium_share_type":"","_threads_share_type":"","_google_business_share_type":"","_selected_social_profile":[],"_wpsp_enable_custom_social_template":false,"_wpsp_social_scheduling":{"enabled":false,"datetime":null,"platforms":[],"status":"template_only","dateOption":"today","timeOption":"now","customDays":"","customHours":"","customDate":"","customTime":"","schedulingType":"absolute"},"_wpsp_active_default_template":true},"categories":[4],"tags":[],"class_list":["post-13020","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-etf-europe"],"blocksy_meta":{"styles_descriptor":{"styles":{"desktop":"","tablet":"","mobile":""},"google_fonts":[],"version":6}},"_links":{"self":[{"href":"https:\/\/www.etfworld.com\/nl\/wp-json\/wp\/v2\/posts\/13020","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.etfworld.com\/nl\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.etfworld.com\/nl\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.etfworld.com\/nl\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.etfworld.com\/nl\/wp-json\/wp\/v2\/comments?post=13020"}],"version-history":[{"count":1,"href":"https:\/\/www.etfworld.com\/nl\/wp-json\/wp\/v2\/posts\/13020\/revisions"}],"predecessor-version":[{"id":61661,"href":"https:\/\/www.etfworld.com\/nl\/wp-json\/wp\/v2\/posts\/13020\/revisions\/61661"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.etfworld.com\/nl\/wp-json\/wp\/v2\/media\/16933"}],"wp:attachment":[{"href":"https:\/\/www.etfworld.com\/nl\/wp-json\/wp\/v2\/media?parent=13020"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.etfworld.com\/nl\/wp-json\/wp\/v2\/categories?post=13020"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.etfworld.com\/nl\/wp-json\/wp\/v2\/tags?post=13020"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}