From Bloomberg: The United Arab Emirates central bank will issue its first Murabahah-based Islamic certificate of deposit this year, providing banks with more investment options, said the chief executive officer of Standard Chartered Saadiq.
The debt market needs short-term notes to help “increase the liquidity pool” for Islamic banks, Afaq Khan said today at an Islamic banking conference in Abu Dhabi. Standard Chartered sits on the U.A.E. central bank’s Islamic liquidity management committee, he said……………………………………….Full Article: Source