Thomson Reuters launches the world's first Islamic Interbank Benchmark Rate (IIBR)
This is a welcome development for the Islamic Finance industry:
'Thomson Reuters today launched the world's first Islamic finance benchmark rate, designed to provide an objective and dedicated indicator for the average expected return on Shariah-compliant short-term interbank funding: The Islamic Interbank Benchmark Rate (IIBR).'
Further details in the official press release.
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