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Malaysian banks launch standardised murabaha deposit contract

Posted on 21 August 2009

From Reuters: Malaysian Islamic banks on Thursday launched a standard agreement for commodity murabaha deposit accounts between banks and corporates, aiming to remove a key barrier to the sector’s growth.

The Association of Islamic Banking Institutions Malaysia — which groups banks such as Bank Islam, CIMB Islamic and the Malaysian units of Kuwait Finance House and Al Rajhi– said the master contract would be similar to an interbank murabaha agreement launched earlier………….Full Article: Source

 
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