| The central bank has decided to form a separate fund market for the Sharia-based banks, financial institutions and the Islami banking branches of scheduled banks. A Bangladesh Bank circular on Tuesday said that Sharia-based banks will be able to conduct transactions in the Islamic Interbank Fund Market (IIFM).
Under the arrangement, IIBF will act as a custodian of the banks' excess liquidity, which they will be able to hand over on a daily basis. All transactions will be based on Mudaraba...............................................Full Article: Source
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