Bursa Malaysia sets up Shariah-compliant commodity platform

CMH will be an international spot commodity platform that facilitates Islamic financing and investment transactions under the Shariah principles of Murabahah, Tawarruq and Musawwamah. Bursa Malaysia plans to launch CMH in August 2009.Initial trades will use crude palm oil but other Shariah-approved soft and hard commodities are expected to follow. Trades will be Ringgit-denominated initially, although the aim is for the platform to eventually be able to trade a multitude of currencies and th