--Olivia Thetgyi
The International Swaps and Derivatives Association and the International Islamic Financial Market will release in the next four to six weeks drafts of pro forma confirmation documents for Shariah-compliant currency swaps and profit rate swaps.
The move is another step toward standardizing Shariah-compliant swaps, according to Peter Werner, senior director at ISDA in London. The documentation will encourage more corporates, asset managers and dealers to use Shariah-complaint ....