First ETF in South Africa certified sharia-compliant

NewGold, the only commodity-based ETF in the South Africa launched in November 2004, was declared sharia-compliant by an independent sharia supervisory board appointed by Absa Islamic Banking in response to increased demand for sharia investment products.

“The demand for sharia investments is certainly escalating in South Africa,” says Vladimir Nedeljkovic, head of ETFs and index products at Absa Capital. “There is an estimated R1.8 billion of annual investible assets held by Muslim investors

To continue reading...

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: