Shariah derivatives agreement near
The International Swaps and Derivatives Association (ISDA) and the International Islamic Financial Market (IIFM) are working together to develop a master agreement for documenting privately negotiated Shariah compliant derivatives transactions.
ISDA and IIFM aim for the agreement to be accepted by Shariah advisors and to become a standard document used for Shariah compliant privately negotiated derivatives in Gulf Co-operation Council member states and beyond, explains Ijlal Ahmed Alvi (pictured)
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