Central banks back move for more liquid Islamic money markets

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A number of central banks have given their backing to a new corporation set-up by the Islamic Financial Services Board (IFSB) to promote better liquidity management by firms involved in markets for Shari`ah-compliant products.

Officials from a number of member central banks of the IFSB signed a memorandum of participation to establish the International Islamic Liquidity Management Corporation, established to encourage more efficient and effective liquidity management in the market for Islamic fi

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