Tuesday, 15th October 2024, Manama, Kingdom of Bahrain - The International Islamic Financial Market (IIFM) and the International Swaps and Derivatives Association (ISDA) today jointly announced the publication of revised versions of the Islamic Profit Rate Swap (Single Sale and Two Sale) and the Islamic Cross-Currency Swap product confirmation templates.
The revised versions simplify the transaction process by separating the annexes from the master terms and conditions for Islamic Profit Rate Swap (IPRS) and Islamic Cross-Currency Swap (ICRCS).
IIFM has also published the Arabic translated versions to cater to certain segments and jurisdictions who use the Arabic language as the means of transaction. The Arabic versions will also be helpful in capacity building of industry practitioners.
The 2024 Versions of the IPRS and the ICRCS product templates are available on IIFM’s website.