23.06.2011 - U.A.E. central bank to offer repo facility for Islamic banks
The UAE central bank will launch on Thursday a repurchase facility for Islamic certificates of deposits to provide a new liquidity tool for the banks, a document showed on Wednesday. Lack of liquidity management tools is seen as one of the key challenges to the emerging Islamic finance industry, which has close to $1 trillion worth of assets globally. The religion's ban on interest rules out most interbank tools..............................................Full Article: Source
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