International Islamic Financial Market (IIFM) expects to launch a template for sharia-compliant profit-rate swaps, designed to help in hedging risk in frequent cross-currency transactions, in the first quarter of next year, its chief executive said.

Ijlal Alvi said IIFM, a global body which works to standardise Islamic finance products, was close to finalising the template, which will standardise documentation in the use of profit-rate swaps among Islamic institutions……………………………………….Fll Article: Source