| 22.11.2011 - Group launches first Islamic interbank benchmark |
| A consortium of Islamic banks and financial industry associations launched the industry's first Islamic interbank rate on Tuesday, providing a sharia-compliant alternative to traditional interest-based benchmarks. The Islamic Interbank Benchmark Rate (IIBR), based on rates contributed by 16 Islamic banks and Islamic sections of conventional banks, is the average expected return on sharia-compliant, short-term interbank funding...............................................Full Article: Source |