Islamic Derivatives House of the Year - Deutsche Bank

- Risk magazine staff
- 01 Jan 2009

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Islamic finance has always been open to interpretation: what ticks the boxes of one Islamic scholar may not meet the approval of another. A new product can take months of structuring and fine-tuning before it meets with the approval of one sharia board, only to find the sharia board of another bank in a different country rejects it out of hand.

Banks have typically structured tailored financial products from scratch, using concepts accepted in Islamic finance - for instance, murabaha (a contract

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