UAE – Mubasher: Lunate, an Abu Dhabi-based global investment firm, has launched the GCCDIV ETF to serve as the first-of-kind Sharia-compliant exchange traded fund (ETF) in the Gulf region, according to a press release.
GCCDIV ETF is scheduled to list on the Abu Dhabi Securities Exchange (ADX) on 23 June 2026, providing investors with exposure to leading income-generating equities in the region, structured in Sharia-compliant principles.
Moreover, the ETF is traded in AED and aims to distribute dividends on a semi-annual basis, with a total expense ratio (TER) of 0.50%. It is designed to track the Solactive GCC Shariah Dividend Index (Bloomberg: SGCCSHDN), which comprises dividend-paying, Sharia-compliant equities from across the GCC.
The index currently includes leading companies across the UAE, Saudi Arabia, and Qatar while spanning diverse and high-growth sectors such as materials, telecommunications, energy, and industrials.
Partner & Head of Public Markets at Lunate, Sherif Salem, said: “This is the first Sharia-compliant ETF globally to offer investors access to multiple GCC markets in a single dividend-paying product.”
Salem noted: “It is a natural extension of our platform, complementing our existing single-market equity exposures and fixed income and thematic offerings while giving investors a more diversified way to access the region.”
He concluded: “Its listing on ADX also marks our 20th ETF listing on the exchange, highlighting the continued development of our suite of ETFs alongside the growth of ADX’s ETF platform.”
The ETF will be managed by Lunate Capital LLC, while the Bank of New York Mellon will serve as the global custodian.
Authorized Participants for the Fund include International Securities, BHM Capital Financial Services, EFG Hermes, Arqaam Securities, FAB Securities, Daman Securities, HSBC, and QMM.
Group CEO of the ADX Group, Abdulla Salem Alnuaimi, said: “The launch of this global-first, Sharia-compliant GCC dividend ETF from Lunate expands the high caliber of financial instruments traded on the ADX.”
Alnuaimi noted: “This listing supports the burgeoning ETF trade on the exchange, which more than tripled year on year to AED 155 million in the first quarter (Q1) of 2026, as investors increasingly seek diversified exposure to different indexes and themes.”
ADX official concluded: “As the most liquid ETF hub in the region, we will continue to expand our investment offering to support Abu Dhabi's long-term economic vision and status as a diversified, resilience, and globally integrated financial hub.”
The Solactive GCC Shariah Dividend Index is maintained by Solactive AG, a leading provider of indexing and benchmarking solutions. The index excludes companies involved in non-compliant business activities or with excessive leverage, in accordance with recognized Islamic screening standards.
This latest launch brings Lunate’s total ETF listings on UAE Exchanges to 22, further supporting the firm’s mission to provide investors with products and solutions customized to their diverse market needs. It further endorses the region’s ambition to become a leading global hub for capital markets.
