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Islamic Finance Briefing - Categorized | Banking, Financial Instruments (Credit Cards, Debts, Loans, Mort more

UAE Central Bank plans Shariah-compliant CDs

Posted on 12 October 2010

From Khaleejtimes.com: The UAE’s Central Bank, in a bid to widen investment options for Islamic lenders, will introduce Shariah-compliant certificates of deposit, or CDs, by year-end.
According to experts, the central bank initiative “will help banks manage liquidity.” Initially, the CDs will be available only to fully Islamic banks and then extended to the Islamic banking units of other commercial banks……………………………………….Full Article: Source

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