11.12.2012 - Wakala new alternative to Murabaha deals

Islamic interbank lending is now starting to move away from Murabaha contracts to Wakala, which is seen as a stronger Sharia-compliant process, said report. The International Islamic Financial Market (IIFM), the global standardisation body for the Islamic capital and money market, is currently working on standardised agreements in the use of Wakala contracts, a key issue in interbank lending in the industry..............................................Full Article: Source

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