12.11.2010 - UAE central bank readies to offer Sharia compliant CDs
From Zawya Dow Jones: The United Arab Emirates central bank will "soon" offer Sharia-compliant certificates of deposits, or CDs, based on the Murabaha concept in a bid to help local Islamic banks manage cash, according to an official statement published Thursday. The Sharia-compliant CDs will serve as "a monetary policy tool for the Central Bank of the U.A.E ." and "as a liquidity management tool for the Islamic banks," the central bank said in a circular posted on its website..............................................Full Article: Source
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