Sharia swap

A new profit-rate swap aims to increase the competitiveness of Islamic banks in Malaysia. James Ockenden reports on its structure

Malaysia's central bank governor has called for greater diversity and maturity in Islamic financial instruments. Speaking at a one-day seminar at Bank Negara Malaysia's Kuala Lumpur headquarters, Zeti Aziz said this was one area of Islamic finance "that offers formidable challenges and opportunities. A broader range of products and services is vital in this fast-changing global financial landscape," she said, highlighting the few Islamic financial instruments available in today's market.

The

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