CGL — iShares Gold Bullion ETF

Holds physical gold, but paper/ETF gold structures raise a genuine fiqh question.

Why?

CGL holds physical gold bullion, and gold itself is a permissible asset. However, many scholars require immediate constructive possession (qabd) for gold transactions to be valid, and whether an ETF share confers that in the way Islamic finance requires is a genuinely debated question — some scholars accept well-structured, fully-backed gold ETFs, others do not.

How this was screened

Primary basis: Fund's own stated mandate.

References

• Screened against commonly applied Islamic finance criteria (business-activity exclusions plus AAOIFI-influenced financial ratio thresholds); exact methodology varies by provider (e.g. AAOIFI, S&P/Dow Jones Islamic Market, MSCI Islamic).

As of: 2026-09-06

This is informational guidance only, not investment advice or a certified Sharia determination. Financial ratios shift every quarter — always verify current figures with a dedicated Islamic screening service or qualified financial and religious advisor before making investment decisions.