The International Islamic Financial Market (IIFM), a Bahrain-based standard-setting body, and the International Capital Market Association (ICMA) have launched a joint initiative to standardise documentation for Sharia-compliant repurchase agreements (repos) to resolve long-standing liquidity hurdles in Islamic finance.
The organisations signed a memorandum of understanding to develop the IIFM/ICMA Islamic Repo (I’aadat Al Shira’a) Master Agreement .
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