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Morgan Stanley becomes Approved Applicant for Dubai Gold Securities |
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08.24.2009 |
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Dubai, August 24, 2009: Dubai Gold Securities LLP 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 Participant Agreement executed with Dubai Gold Securities LLP 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, N.A.) to the offering. Similarly, Morgan Stanley, will be able to redeem Dubai Gold Securities and take physical delivery of the underlying physical gold bullion.
Dubai Gold Securities LLP is incorporated in the Dubai International Financial Centre (DIFC) and can offer up to 1 Billion Dubai Gold Securities under the Exempt Offer in accordance with the Offered Securities Rules of the Dubai Financial Services Authority (DFSA). Dubai Gold Securities were first admitted to trading on NASDAQ DubaiNASDAQ DubaiLoading... on 2 March 2009.
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Source:www.zawya.com |
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