null Islamic banking industry seeks to grow alternatives to commodity-based shariah contract - BNM
Islamic banking industry seeks to grow alternatives to commodity-based shariah contract - BNM
3 Apr 2023 | Monday Source : Sinar Daily
Islamic banking activities’ resilience to the risk of extreme supply shocks in global commodity markets will be further enhanced by reducing tawarruq (commodity-based) concentrations through diversification into non-commodity-based Shariah contracts.
Bank Negara Malaysia (BNM) said that among Shariah contract arrangements currently applied to facilitate Islamic banking transactions, tawarruq is the most widely used contract in key product segments which include financing, deposits and interbank money market.
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