Saturday, November 26, 2011

Islamic LIBOR rate launched

The Wall Street Journal reported the launch of an new financial benchmark rate akin to LIBOR that follows the principles of Islamic finance called the Islamic Interbank Benchmark Rate (IIBR). In the past Islamic financial institutions used the LIBOR.
http://online.wsj.com/article/SB10001424052970204443404577054150155788364.html?KEYWORDS=islamic+libor