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IIFM and IILM discuss challenges of benchmark rate reforms for Islamic Finance

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Published on: 29 October 2021

Published by LNB News

LNB News 29/10/2021

Document Information

Issue Date: 29 October 2021

Published Date: 29 October 2021

Jurisdiction(s): United Kingdom

Article summary

The International Islamic Financial Market (IIFM) and the International Islamic Liquidity Management Corporation (IILM) hosted a joint virtual awareness seminar titled, ‘Global Benchmark Rate Reforms – Challenges & Solutions for Islamic Finance Industry’ at the annual Indonesia Shari’ah Economic Festival (ISEF). The seminar was divided into focused sessions covering the background and differences between Inter-Bank Offered Rates (IBORs) and Risk-Free Rates (RFRs), methodologies for tenor rates, RFRs regulations and administrators, global transition implementation timelines, update on IIFM RFR implementation solutions for Islamic financing segment, RFR implementation documentation for Islamic hedging segment and the potential for an Islamic benchmark rate based on IILM Sukuk experience.

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