The Islamic Financial Services Board, a global standard-setting body for the industry with $1 trillion in assets, is forming an institution that will issue short-term products to help Shariah-compliant banks manage funds. Islamic Market Short-Term Liquidity Products to Boost Cross-Border Flows

Washington, 7 October 2010 - The Islamic Financial Services Board (IFSB) today facilitated the signing of the Memorandum of Participation for the establishment of the International Islamic Liquidity Management Corporation (IILM). The primary objective of the IILM is to issue Sharī`ah-compliant financial instruments in order to facilitate more efficient and effective liquidity management solutions for...