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Islamic Finance Briefing - Categorized | Compliance, Tax, Legal, Regulatory, Finance, Market Moves more

Islamic benchmark financing rate not expected in near term

Posted on 17 March 2009

From Guardian: A dual system which has both Islamic and conventional benchmark financing rates could throw markets into disarray, a respected sharia scholar said, highlighting the difficulty in creating a rate that would free Islamic banks from interest-based markets.
The $1 trillion Islamic finance sector is trying to establish a sharia equivalent of the London Interbank Offered Rate, which banks use globally to price products….. Full Article: Source

 
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