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Islamic Finance Briefing - Categorized | Accounting and Audit, Banking, Islamic Hedge Funds more

Bank of London and the Middle East deploys Reval for Sharia compliant hedge accounting

Posted on 08 June 2010

Reval, a leading global provider of risk management and hedge accounting solutions, announced today that Bank of London and The Middle East (BLME), one of the first Sharia’a-compliant banks in the world to qualify for hedge accounting under International Accounting Standard (IAS) 39, has deployed Reval Software-as-a-Service (SaaS) for a more robust and flexible solution for its hedge accounting requirements.
The bank has deployed Reval in place of its original in-house application primarily for fair-value hedging of its large portfolio of bond-like instruments, called Sukuk, and for cash flow hedging of its portfolio of deposits…………………………………………Full Press Release: Source

 
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