MALAYSIA: The Association of Islamic Banking Institutions Malaysia (AIBIM) has launched a standard agreement for commodity Murabahah deposits between banks and corporations.
AIBIM said the master contract would be similar to an interbank Murabahah master agreement launched three month ago. AIBIM president Zukri Samat said the corporate Murabahah master agreement would unlock the potencial of the Malaysian Islamic money market, which sees around RM6 billion (US$1.7 billion) worth of transactions daily.
“I believe that the adoption of the two agreement will also boost the recently established Bursa Suq Al-Sila’, the world’s first Shariah-based international commodity trading platform,” said Zukri. |
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