Islamic banking boost: Central Bank of Bahrain (CBB) to launch key Islamic Financial Instrument

 

Islamic banking boost: Central Bank of Bahrain (CBB) to launch key Islamic Financial Instrument

 

The Central Bank of Bahrain (CBB) is set to launch a key Islamic financial instrument aimed at providing a liquidity management tool to Islamic financial institutions.

The Islamic Sukuk Liquidity Instrument (ISLI) has been jointly developed by the CBB and the Bahrain-based Liquidity Management Center (LMC), an organization which provides asset sourcing, structuring and market making capabilities.

ISLI has been designed to enable financial institutions, both conventional and Islamic, to access short term liquidity against Government of Bahrain Islamic leasing Ijara bonds, issued by the CBB.

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