Clifford Chance
Launch of IIFM Interbank Unrestricted Master Investment Wakalah Agreement
3 June 2013
The launch today in Singapore of the IIFM Interbank Unrestricted Master Investment Wakalah Agreement by IIFM (International Islamic Financial Market) is another milestone in the development of liquidity management products for Islamic Financial Institutions (IFIs) and another milestone in the project of standardisation in Islamic Finance documentation.
The Interbank Unrestricted Master Investment Wakalah Agreement has been specifically designed to be used between financial institutions to manage their liquidity through Shari'a compliant interbank treasury transactions and provides a very welcome alternative to liquidity management based on commodity murabaha transactions.
