(Bloomberg) -- CIMB Group Sdn., Malaysia's second-
biggest financial group, started its first overseas commodity-
backed deposit program complying with Islamic law with the
U.K.'s European Islamic Investment Bank Plc.
The commodity Murabahah will help ``strengthen'' CIMB's
Islamic money market and foreign exchange operations in the U.K.,
Kuala Lumpur-based CIMB Group said in an e-mailed statement
yesterday. Murabahah is an Islamic monetary instrument that uses
commodities as its underlying asset to help banks manage their
liquidity and short-term deposits.
Read more at Bloomberg Bonds News
biggest financial group, started its first overseas commodity-
backed deposit program complying with Islamic law with the
U.K.'s European Islamic Investment Bank Plc.
The commodity Murabahah will help ``strengthen'' CIMB's
Islamic money market and foreign exchange operations in the U.K.,
Kuala Lumpur-based CIMB Group said in an e-mailed statement
yesterday. Murabahah is an Islamic monetary instrument that uses
commodities as its underlying asset to help banks manage their
liquidity and short-term deposits.
Read more at Bloomberg Bonds News
No comments:
Post a Comment