17.02.2010 - Westpac claims Australian first for Islamic finance
From Forexyard.com: Australia's Westpac Banking Corp has launched what it believes to be the country's first Islamic financing tool for institutions, designed to facilitate commodities trade for Middle Eastern and Malaysian investors. Westpac's institutional bankers have developed an instrument allowing Islamic investors to buy iron ore and other commodities forward, using Westpac's strong balance sheet, without the counterparty risks of a doing a direct deal with a supplier.......................................Full Article: Source
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