Central banks establish corporation for more liquid Islamic money markets

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Senior officials from 11 central banks and two multilateral organisations on Monday signed articles of agreement to establish a new corporation set up by the Islamic Financial Services Board (IFSB) for more liquid markets for Islamic finance products.

The senior officials - among them six governors - signed the articles to create the International Islamic Liquidity Management Corporation on Monday morning at the Global Islamic Financial Forum in Malaysia, where the corporation will be housed.

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