17.03.2009 - Islamic benchmark financing rate not expected in near term
From Guardian: A dual system which has both Islamic and conventional benchmark financing rates could throw markets into disarray, a respected sharia scholar said, highlighting the difficulty in creating a rate that would free Islamic banks from interest-based markets. The $1 trillion Islamic finance sector is trying to establish a sharia equivalent of the London Interbank Offered Rate, which banks use globally to price products..... Full Article: Source