Israelis can trade on Dubai's Gold and Commodities Exchange (DGCX) as of Sunday, Israel Hayom has learned.
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The DGCX has 267 members. It is regulated by the Securities and Commodities Authority of the United Arab Emirates, a member of the International Organization of Securities Commissions.
The exchange said in a statement on Sunday that it has received a permit from the Israel Securities Authority allowing for Israeli corporations to become members of the DGCX and use its services and platforms and also act as market makers.
The announcement is another example of the business and economic ties being rapidly established since the signing of the Abraham Accords in September 2020.
DGCX CEO Les Male said in the statement that he was "delighted" to welcome Israeli investors to the exchange.
"The landmark development of the Abraham Accords provides a springboard for the Israeli community to come to Dubai and invest, opportunities for our new Israeli member base to hedge risk, and to invest in secure and safe assets during times of uncertainty," Male said.
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