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By 2010 they had become common enough for a global standard to be developed by the Bahrain-based International Islamic Financial Market and New York-based International Swaps and Derivatives Association [46] This standard, called the Tahawwut or the "Hedging Master Agreement" [47] provides a structure under which institutions can trade ...
Sukuk securities tend to be bought and held. As a result, few securities enter the secondary market to be traded. Furthermore, only public Sukuk are able to enter this market, as they are listed on stock exchanges. The secondary market—whilst developing—remains a niche segment with virtually all of the trading done at the institution level.
The International Islamic Financial Market – a standardization body of the Islamic Financial Services Board for Islamic capital market products and operations – was founded in November 2001 through the cooperation of the governments and central banks of Brunei, Indonesia and Sudan. Its secretariat is located in Manama Bahrain.
Syariah (Jawi: شرعية , the Malay spelling of "Sharia") refers to sharia law in Islamic religious law and deals with exclusively Islamic laws, having jurisdiction upon every Muslim in Malaysia. The Syariah Court system is one of the two separate court systems which exist in the general Malaysian legal system. There is a parallel ...