20.07.2009 - Islamic finance needs to expedite the development of a systemic liquidity infrastructure
From Arabnews.com: Liquidity management and the lack of a global Islamic interbank money market are perhaps two of the biggest challenges for the future development of the global Islamic finance industry. These challenges apply both in Muslim and non-Muslim markets. While regulators, industry organizations and market players have repeatedly stressed the urgent need for a global Islamic interbank market and a liquidity management scheme, the sector has not moved much forward in this respect, instead relying on tried and tested and potentially contentious commodity Murabaha contracts placed through the London Metal Exchange (LME)...........Full Article: Source