GLOBAL: The International Islamic Financial Market (IIFM) has approved the launch of its global IIFM/ICMA Shariah compliant Repo Standardization Documentation project, to address liquidity management gaps in the Islamic finance industry. The initiative will develop a standardized legal and operational framework for Shariah compliant repurchase agreements, intended to replace fragmented, jurisdiction-specific documentation practices with a global standard.
The project is taking place in collaboration with the International Capital Market Association (ICMA).
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