(Corrects to show release of product standards for Islamic profit rate swaps from headline.)
The International Islamic Financial Market and the International Swaps and Derivatives Association Inc. announced standards for Shariah-compliant profit-rate swaps.
The Mubadalatul Arbaah agreement is a “mechanism structured to allow bilateral exchange of profit streams from fixed rate to floating rate or vice versa,” they said in a joint statement today in Bahrain.
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