Thursday, Jul 05, 2012
Bahrain-based International Islamic Financial Market (IIFM) organized an industry consultative meeting which was hosted by Standard Chartered Saadiq at their office in DIFC (Dubai).
The meeting was part of the IIFM efforts to further strengthen Islamic liquidity management, develop alternate tools, and increase liquidity in Sukuk and other Islamic financial instruments. Since the publication of IIFM white paper on “Alternative to Repo and Collateralization”, the IIFM recommendation on introducing collateralized instrument for Islamic liquidity management is now gaining momentum with several IIFM member institutions offering collateralized product in the Islamic inter-bank market such as Abu Dhabi Islamic Bank. Also on the jurisdiction level Bank Negara Malaysia has announced introduction of collateralized murabaha product for monetary management.
By Mahmood Rafique - www.twentyfoursevennews.com
24x7 News 2012. All rights reserved.
