Lunate Launches First GCC-Wide Shariah Dividend ETF

Lunate has launched the Chimera Solactive GCC Shariah Dividend ETF (GCCDIV), listed on the Abu Dhabi Securities Exchange. The fund tracks the Solactive GCC Shariah Dividend Index, providing exposure to high-dividend, Shariah-compliant companies across Saudi Arabia, UAE, Qatar, and Kuwait. The index combines dividend yield screening with a momentum filter to avoid potential yield traps and selects 20 stocks weighted by yield, subject to concentration caps. Lunate says the ETF is the first Shariah-compliant ETF globally to offer diversified dividend exposure across multiple GCC markets in a single product.