Dubai Gold Securities accepts Morgan Stanley as Approved Applicant

Dubai Gold Securities today announced that it had accepted Morgan Stanley as an Approved Applicant in connection with the ongoing offering on NASDAQ Dubai of Dubai Gold Securities, the MENA region’s first and only Shariah-compliant ETC.

The acceptance of Morgan Stanley as an Approved Applicant is in line with Dubai Gold Securities' strategy of attracting leading financial institutions as participants in the primary market for Dubai Gold Securities.

The Participant Agreement executed with Dubai Gold Securities allows Morgan Stanley to create Dubai Gold Securities subject to it depositing the physical gold bullion that backs every security in issue with the Custodian (HSBC Bank USA, NA) to the offering.