The Islamic Bank of Asia launches two Shari’ah compliant products

By: Staff Writer

icle

Profit rate swap better manages funding cost volatility, foreign exchange forward purchase maximises economic opportunities from currency market movements

Chief executive Vince Cook said that the bank is currently working towards launching its first Shari’ah compliant Asian equities fund and real estate fund targeting special opportunities in the region later this year.

The Islamic Bank of Asia has launched two products. One is a profit rate swap structure and the other is a foreign exchange (FX) forward purchase contract, designed to help customers manage their liability risks and maximise opportunities from currency market movements respectively.

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