Yes it is.
The Bursa Gold Dinar is designed as an end-to-end Shariah-compliant platform product, ensuring compliance at every stage including the underlying physical gold. Gold on the platform is backed by an equivalent amount of underlying physical gold with a serial number and is audited from time to time. Furthermore, a seller’s gold and buyer’s cash will be transferred on a real-time basis; the system will not allow any deferred payment and asset transfer. The platform utilises a trust account with an Islamic bank. The platform also adheres to the Accounting and Auditing Organization for Islamic Financial Institutions (“AAOIFI”) Shariah Standard on Gold. Additionally, the product has also been endorsed by the Shariah Committee of Bursa Malaysia Islamic Services.