i] and let its price for an interbank transaction
be given by [q.
While the first application will be in the cash clearing area, the new system will eventually be used for a variety of other Interbank transactions
It is used to price financial contracts around the world, ranging from complex interbank transactions
to consumer mortgages and student loans.
The Collateralized Murabahah will be a new low credit-risk financial instrument that enables collateralized interbank transactions
in the Islamic Money Market in the country, the central bank said in a statement.
Saidi said, "The establishment of the IIBR marks an important milestone in the maturation of Islamic money markets by providing an international reference rate for interbank transactions
He said that while interbank transactions
had been Sharia-compliant, in each transaction there was a feeling that the level of return was being set by traditional interest rates.
The establishment of the IIBR marks an important milestone in the maturation of Islamic money markets by providing an international reference rate for interbank transactions
," said Nasser Saidi, chairman of the committee which sets the rules for the new system.
The National Bank is making interbank transactions
and all transactions of the Treasury related to payment of pensions, salaries and allowances will be made in full.
Treasury Operations Department (TOD) of SBP would start settlement of all FX interbank transactions
(new trades as well as prior maturities) with the banks with effect from 5th October, 2009.
Summary: Internet payment of business transaction through interbank smart card (CIB) is to be launched in Algeria as from July 2009, the company for automation of interbank transactions
and electronic banking (SATIM) said Sunday.
Understanding this prerequisite, AIBIM, at the request of and driven by its members, has developed common and standardized documents, comprising the MAA and the IMMA, which can be used by Islamic banking institutions for their interbank transactions
involving deposit-taking and placement," he told delegates at the launch of the master agreements in Kuala Lumpur on April 15 in the presence of Zeti Akhtar Aziz, governor of Bank Negara Malaysia, the central bank.
Although the quantitative easing policy's actual effects have yet to be specified, he said, he believes the policy was ''effective when interbank transactions