KUALA LUMPUR: Maybank Islamic Bhd yesterday launched two treasury products – Foreign Currency Commodity Murabaha Deposit-i and Foreign Currency Commodity Murabaha Placement-i.
In a statement, the bank said the launch of the products was in line with its strategy to grow its business under its International Currency Business Unit (ICBU).
The first product is a syariah-compliant liquidity management product to facilitate investors to mobilise their surplus funds into the Islamic financial market while the latter is a management product that can be used to facilitate inter-bank transactions.
As a start, the products would be offered in four currencies: US dollar, euro, British pound and Australian dollar, it said.
The minimum deposit in foreign currencies offered is equivalent to RM1mil for a minimum tenure of 14 days.
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Alfalah Consulting - KL: www.alfalahconsulting.com
Islamic finance consultant: www.ahmad-sanusi-husain.com
Islamic Investment Malaysia: www.islamic-invest-malaysia.com
In a statement, the bank said the launch of the products was in line with its strategy to grow its business under its International Currency Business Unit (ICBU).
The first product is a syariah-compliant liquidity management product to facilitate investors to mobilise their surplus funds into the Islamic financial market while the latter is a management product that can be used to facilitate inter-bank transactions.
As a start, the products would be offered in four currencies: US dollar, euro, British pound and Australian dollar, it said.
The minimum deposit in foreign currencies offered is equivalent to RM1mil for a minimum tenure of 14 days.
---
Alfalah Consulting - KL: www.alfalahconsulting.com
Islamic finance consultant: www.ahmad-sanusi-husain.com
Islamic Investment Malaysia: www.islamic-invest-malaysia.com
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