Silver Bullion: Shariah Compliant on the Outright Purchase, Sale of Bullion and Undertaking (Wa’d) to buy back bullion

Posted by Vergel Villasoto on 11 Jan 2018


SHARIAH COMPLIANT IN THE OUTRIGHT PURCHASE, SALE OF BULLION AND UNDERTAKING (WA’D) TO BUY BACK BULLION

SILVER BULLION has always been at the forefront to strengthen our core values and presence in the bullion industry by providing a truly secure and transparent physical bullion trading platform for our valued customers. Today marks another milestone in our efforts and we are humbled to announced that we are now a Shariah compliant company. Our Shariah endorsement covers the outright purchase, sale of bullion (ie precious metals such as gold, silver and platinum) and also our undertaking (wa’d) to buy back bullion giving our Islamic investors the complete peace of mind in managing their wealth and liquidity without compromising their faith.

What is Shariah Compliance?

Islamic finance operates per Shariah; the Shariah compliance of financial products is governed by Islamic law as well as finance industry rules and regulations. Islamic financial products derive principles from Shariah law (also referred to as Sharia or Shari'a), which is taken from the Quran and the Hadiths. These govern all aspects of the personal and collective lives of Muslims.

How are we Shariah-compliant?

Silver Bullion Pte Ltd and Silver Bullion Sdn Bhd are certified Shariah compliant by our Shariah Advisory Board, Amanie Advisors Sdn Bhd, in accordance with the Shariah Standard on gold set by the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI).