Dubai, United Arab Emirates:
ComTech FZCO receives Shariah Compliance Certification for ComTech Gold Token (CGO), turning into the first in trade to be awarded a Shariah certification for Gold tokenization product in the Region. Shariah certification (Fatwa) was issued by Amanie Advisors Ltd, an entity specialising in area of Shariah-compliant investments and Islamic finance options.
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ComTech Gold $CGO receives Shariah Certification from Amanie Advisors (Photo: AETOSWire)
ComTech FZCO, a Dubai-based firm redefining tokenization infrastructure (for real-world belongings), began with digitization of Gold powered by XDC Network. ComTech Gold ‘CGO’ is listed on Global Exchanges like LBank, Bitrue. Investors should purchase CGO by opening an account with these exchanges. Investors can maintain tokens inside the alternate wallets or with any of the Internationally accepted wallets like D’cent, Guarda, or by way of regulated digital Custodians like Propine, a MAS-regulated entity.
Supported by the steerage from Amanie Advisors Ltd, ComTech Gold Shariah certification was offered after confirming that the construction, mechanism, and related key authorized documentation of ComTech Gold Token met all the crucial necessities in line with Shariah guidelines and requirements outlined by the Accounting and Auditing Organisation for Islamic Financial Institutions (AAOIFI).
Navin D’souza, Chief Executive Officer of ComTech Gold, mentioned: “We are proud to be the first Gold blockchain firm in the area to obtain Shariah certification, which is able to give buyers higher consolation in investing in 100% bodily gold-backed token the place each token is backed by 1gm of 999.9 purity of gold, securely saved in TransGuard secure vaults. Financial devices like CGO are considerably gaining reputation globally, tremendously displays the rising potential of Islamic monetary merchandise amongst buyers. By acquiring this certification, ComTech Gold is nicely positioned to service Islamic buyers on the lookout for Shariah-compliant belongings to make investments.
“ComTech Gold token, built on XDC Network utilizes the power of blockchain to allow investors own Gold in digitized form where each of these tokens represents one pure gram of gold that is fully backed, redeemable, regulated. EVM-compatible XDC Network makes it possible to make transactions at near-zero gas fees with high transaction speed, consuming low-energy is an added-advantage attracting many strategic partners and investors, they like to be stakeholders for ComTech-FZCO,” added Mr. Navin.
Maya Marissa Malek, CEO at Amanie Advisors Global workplace, mentioned: “We are pleased to see this new Shariah-compliant gold-backed product offered by ComTech come into the market. It provides a much-needed variety for Islamic investors to tap into precious metal assets, which have not been sufficiently tapped into in the past due to a lack of well-defined Shariah guidelines. With the AAOIFI Shariah standard on gold, we now see an increase in both supply and demand of this asset class.”
Amanie Advisors just lately gained the Islamic Economy Award in the class of Islamic Economy Knowledge Infrastructure at the prestigious Global Islamic Economy Summit (GIES) in Dubai, UAE as delivered by His Highness Sheikh Mohammed bin Rashid Al Maktoum, the VicePresident, and PrimeMinister of UAE.