In January 2007, ICMA signed a Memorandum of Understanding with the Bahrain-based International Islamic Financial Market (IIFM) to cooperate (through joint working groups) in developing market practices, documentation and educational and technical services for the Islamic capital markets.
Projects at that time addressed the potential development of:
* sukuk (Islamic bond) issuance recommendations;
* a master agreement for Islamic repo-style transactions;
* a trade matching and reporting system compatible with Shariah-compliant instruments; and
* appropriate educational offerings.
View related documents
ICMA regulatory policy newsletter - July 2007 (page 10)
ICMA regulatory policy newsletter - April 2007 (page 8)
Senior Director, Market Practice and Regulatory Policy; secretary to the ICMA Primary Market Practices Committee and related groups.
Direct line: +44 20 7213 0316