Future Events

IIFM Workshop on Islamic Finance (Standard Documents and Product Templates)
Tuesday, 10 May 2016
IIFM Board of Directors Meeting hosted by Luban FSA
Tuesday, 10 May 2016

Corporate Profile

IIFM is a standard-setting organization for the Islamic Financial Services Industry focusing on standardization of Islamic financial contracts and product templates relating to the Capital & Money Market, Corporate Finance and Trade Finance segments of the industry.
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Announcements

Equitable Financial Solutions, Australia become IIFM Member
National Bank of Fujairah becomes IIFM Member

Published Standards

IIFM Published Standard Documents & Product Templates
Brief on IIFM Standards
IIFM-7
ISDA/IIFM Islamic Cross-Currency Swap (ICRCS)
Islamic financial institutions can manage risk in transactions exposed to fluctuations in currencies and rate-of-return mismatches.
  • First Leg Cross-Currency Swap (Wa'ad - Two Sales)
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    Second Leg Cross-Currency Swap (Wa'ad - Two Sales)
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  • Related Documents
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    IIFM Product Description for Islamic Cross-Currency Swap (ICRCS) Template
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    Client Briefing ISDA-IIFM Islamic Cross Currency Swaps
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IIFM-6
Master Collateralized Murabaha Agreement (MCMA)
It is an important new tool for IFI’s as they seek to address the increased global regulatory focus on liquidity and collateral.
  • Master Collateralized Murabaha Agreement
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    Operational Guidance Memorandum
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  • Related Documents
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    Minor Amendments to the text of the following Master Agreements
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    Key Features and Scope of the IIFM Shari'ah Board Review and Guidelines of the MCM Agreement
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    Clifford Chance Client Briefing IIFM MCM Agreement 16-Nov-2014
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    Trowers & Hamlins, Bulletin - Islamic finance - IIFM MCM Agreement (November 2014)
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IIFM-5
Inter-Bank Unrestricted Master Investment Wakalah Agreement (UMWA)
The important features of this standard documentation is Wakil’s discretion to invest the funds, use of general treasury pool, anticipated profit, early termination, replacement of asset, on-balance sheet accounting assessment etc.,
  • Interbank Unrestricted Master Investment Wakalah Agreement
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    IIFM Wakala Operational Guidance Memorandum
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  • Related Documents
    View Detail
    Minor Amendments to the text of the following Master Agreements
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IIFM-4
ISDA/IIFM Mubadalatul Arbaah (MA) (Profit Rate Swap) Floating Rate Leg
The IPRS provides the industry access to robust and well developed product documentation under the TMA.
  • Wa'ad based - Single Sale
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    Wa'ad based - Two Sale
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    IIFM PRS Product Explanation
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  • Related Documents
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    IIFM PRS Product Explanation
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    Client Briefing - 27 March 2012
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    Client Briefing - 10 April 2012
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    Shari'ah Guidelines for Potential Users of Mubadalatul Arbaah (MA)
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    Mubadalatul Arbaah (PRS Paper)
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    Shariah meeting 8th November - CBB
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Standards In Progress

IIFM-9
Credit Support Arrangement Standardization
IIFM 9 Document 1

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IIFM 9 Related Document 1

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IIFM-8
Islamic Foreign Exchange Forward (Wiqayah Min Taqallub As'aar Assarf)
Unilateral Muwa'adah based structure
Single Wa'ad based structure

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Latest News

Indonesia Financial Services Authority (OJK) visits IIFM
Monday, 21 December 2015
IIFM announces new standards to support the development of Islamic finance at 33rd board meeting & workshop hosted by NCB
Monday, 14 December 2015
ISDA and IIFM publish Islamic Cross Currency Swap Standard
Thursday, 26 November 2015

Market Research

IIFM Sukuk Report (4th Edition) A Comprehensive study of the Global Sukuk Market
IIFM Sukuk Report (3rd Edition) A Comprehensive study of the Global Sukuk Market
Islamic Finance news - Bahrain Report 2007
Concept Paper on Mubadalatul Arbaah (Profit rate swap)
Inter – Bank Unrestricted On-Balance Sheet Master Wakalah Agreement (Concept Paper)
IIFM Sukuk Report (2nd Edition) A Comprehensive Study of the Global Sukuk Market

Photo Gallery

IIFM Industry Seminar on Islamic Financial Markets, Tuesday, 2nd June 2015, Singapore
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IIFM Industry Seminar on Islamic Financial Markets, Thursday, 14th May 2015, Dubai
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Workshop on IIFM's “Master Collateralized Murabahah Agreement” - an Islamic standard for raising liquidity, London, 6 February 2015
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