22.11.2012 - Pakistan issues rules for mudaraba-based Islamic deposits
Pakistan's central bank has issued new rules for Islamic bank deposits backed by asset pools using mudaraba, a form of investment partnership that is common in Islamic finance. The pools will have to maintain at least 20 percent of their assets in liquid securities, though this level can be reduced to 10 percent with the approval of sharia scholars. The rules allow banks to aggregate pools to help them manage liquidity in the short-term money market...............................................Full Article: Source
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