The launch of the Shariah Standard on Gold, which offers guidance on the use of modern gold financial products that meet the requirements of the religious law governing members of Islam, opens the market for the yellow metal to potentially significant demand from the Muslim world.

The Shariah Gold Standard allows Islamic investors to invest in vaulted gold, gold savings plans, gold certificates, physical gold exchange-traded funds and gold-mining shares within certain Shariah parameters, according to GoldCore.

GoldCore will launch a fully-compliant Shariah bullion investment offering in the first quarter of next year.