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Launch of world’s first Islamic interbank rate

Posted on 05 January 2012

The world’s first Islamic finance benchmark rate, designed to provide an objective and dedicated indicator for the average expected return on Shariah-compliant short-term interbank funding, has been launched by Thomson Reuters.
The Islamic Interbank Benchmark Rate (IIBR), announced at the 18th annual World Islamic Banking Conference in Bahrain, uses the contributed rates of 16 Islamic banks and the Islamic sections of conventional banks to provide a reliable alternative for pricing Islamic instruments to the conventional interest-based benchmarks used for mainstream finance………………………………………..Full Article: Source

 
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