null Refinitiv launches post-trade solution for Islamic money market transactions
Refinitiv launches post-trade solution for Islamic money market transactions
1 Jul 2021 | Thursday Source: Zawya
Refinitiv has launched an automated post-trade solution that connects with a conversational dealing platform and supports Islamic money market transactions such as Murabaha, Wakala, and Mudaraba.
According to the Refinitiv 2020 Islamic finance development report, global shariah-compliant assets are forecast to reach USD3.69 trillion by 2024. Financial institutions face major challenges in trading Islamic finance products. Currently, money markets transactions require complex and manual counterparty agreements involving several stakeholders such as liquidity providers, commodity brokers, and liquidity takers.