Lunate to list first multi-GCC Shariah dividend ETF on ADX

Lunate will list GCCDIV, a Shariah-compliant multi-GCC dividend exchange-traded fund, on the Abu Dhabi Securities Exchange on 23 June 2026. The ETF will track the Solactive GCC Shariah Dividend Index and trade in UAE dirhams.

The Solactive index used by GCCDIV includes dividend-paying, Shariah-compliant companies from the United Arab Emirates, Saudi Arabia and Qatar. Constituents span sectors such as materials, telecommunications, energy and industrials.

GCCDIV is structured to pay distributions semi-annually and carries a total expense ratio of 0.50 percent. Lunate Capital LLC will manage the fund and The Bank of New York Mellon will serve as global custodian.

Authorised participants for the ETF include regional and international brokers and banks, among them International Securities, BHM Capital Financial Services, EFG Hermes, Arqaam Securities, FAB Securities, Daman Securities, HSBC and QMM. The fund’s structure and custodial arrangements are intended to support liquidity and market access for both institutional and retail investors.

Sherif Salem, Partner and Head of Public Markets at Lunate, described GCCDIV as the first Shariah-compliant product that brings multiple GCC markets together in a single dividend-paying vehicle and noted the listing marks Lunate’s 20th ETF on ADX. He said the ETF complements the firm’s existing single-market equity, fixed-income and thematic offerings.

Abdulla Salem Alnuaimi, Group Chief Executive Officer of the ADX Group, characterised the listing as an expansion of the exchange’s financial instruments and said it supports growing ETF activity on ADX. The exchange reported ETF trading of 155 million dirhams in the first quarter of 2026, more than three times the volume from the same period the previous year.

The ETF provides a single, exchange-traded way for investors to gain dividend-oriented, Shariah-compliant exposure across multiple Gulf equity markets.