Sunday, May 11, 2014
Dubai: Sharjah Islamic Bank (SIB) announced on Sunday that it has joined NASDAQ Dubai’s rapidly growing Islamic financing Murabaha platform, which offers unique advantages to bank customers seeking Sharia solutions.
SIB is the first bank to join the facility since the official launch of the NASDAQ Dubai Murabaha Platform last month. The platform was set up by NASDAQ Dubai jointly with Emirates Islamic with the aim of strengthening Dubai’s position as the Capital of the Islamic Economy globally and has the potential to make Dubai the international centre for processing Sharia’a-compliant financing transactions.
Through the NASDAQ Dubai Murabaha Platform, individual and institutional clients of SIB will be able to complete financing transactions efficiently and easily, within minutes. The platform is the ideal alternative to many traditional Islamic financing solutions, which can carry a risk of losses through price movements, spreads and poor liquidity as well as delays.
Staff Report
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