27.08.2010 - Malaysia central bank sharia advisers forbid forward forex fee
From Reuters: The Malaysian central bank's sharia advisers have outlawed the payment of a fee to support a pledge made in Islamic forward foreign currency transactions, saying such charges contravene the religion. Islamic banks tend to levy a payment when a promise or "waad" is made to enter into a forward foreign currency hedging contract to reflect the parties' commitment to the transaction..............................................Full Article: Source
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