Islamic Finance
Regulation, Risk & Compliance
Uncategorized
LIBOR transition and Islamic finance in the GCC – accelerating the transition
In the GCC, Islamic financings that are not provided in a local currency are usually in US dollars. In many cases, such US dollar Islamic financings in the GCC are still being originated using LIBOR as the benchmark rate for profit calculations, despite LIBOR's discontinuation being increasingly imminent. In this…
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