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Establishment of IILM is a big relief

Posted on 11 October 2010

From Arabnews.com: The announcement by the Islamic Development Bank (IDB) and the Islamic Financial Services Board (IFSB) last Thursday at the side of the International Monetary Fund (IMF)-World Bank Group annual meetings in Washington that a Memorandum of Participation has been signed for the establishment of the International Islamic Liquidity Management Corporation (IILM) has left the Islamic finance industry with abated breath.
The lack of a truly global and well-oiled liquidity management scheme has been the bane of the industry, with no government or supranational taking on the task until now…………………………………….Full Article: Source

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