Al bogari Islamic Gold opens new office in Almas Tower
al bogari Islamic Gold, the Sharia-compliant precious metals trading arm of al bogari Holdings, officially inaugurated its new office last week in Almas Tower as part of the group’s continuous drive to expand its vast network and offer enhanced services to its growing client base.
The new office, located in Almas Tower, at the heart of the Dubai Multi Commodities Center, will serve as the firm’s headquarters. The office will offer clients full access to al bogari Islamic Gold’s portfolio of Sharia-compliant services that cover buying and selling bullion, secure third party custodial services, professional mediation between repositories and investors, and timely market analysis.
Commenting on the new office, Anwar Habib, Chief Executive Officer of al bogari Islamic Gold said, “The strategic location of our new office will help strengthen our market reach and increase brand awareness among clients and prospective customers. This also gives us an excellent opportunity to tap into the increasing regional demand for Sharia-compliant products.”
“The volatility of other asset classes such as equities and real estate has pushed investors to seek the proven hedging characteristics of precious metals to diversify their portfolios. These factors, complemented by our continuous investment to improve our services will guarantee a very busy year for al bogari Islamic Gold,” added Anwar.
al bogari Islamic Gold is a pioneer of Sharia-compliant bullion trading in the region. Contrary to traditional paper based precious metals contracts that are traded on exchanges worldwide, Sharia law necessitates that constructive possession be taken of both gold and silver. This creates a unique problem for clients, that of being able to store their gold or silver bullions securely until the time comes to exit. Alongside being unable to access precious metals in a bulk form, the storage conundrum has prevented Sharia conscious clients from trading in precious metals.
Since its incorporation in 2003, al bogari Islamic Gold has offered it’s clients the ability to both buy and sell precious metals in a bulk form at competitive rates while managing the supply chain to ensure secure vaulting, transparency, risk mitigation and Sharia compliance.
al bogari Islamic Gold is part of the Dubai-based al bogari Holdings who is an innovative trading and investment firm. Key lines of business include al bogari Commodities, a niche trader of agricultural commodities, and al bogari Capital, a private investment arm that invests in private equity, public equity markets and other Sharia-compliant products.