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.

Announcements

IIFM and ISDA publish Islamic Foreign Exchange Forward Standards
5th April 2016 - IIFM publishes 5th Edition of its Sukuk Report
Attijari Al Islami a division of Commercial Bank of Dubai become IIFM Member
Ibdar Bank becomes IIFM Member.

Published Standards

IIFM Standard - 9
ISDA/IIFM Islamic Foreign Exchange Forward (IFX Forward) – Two Unilateral and Independent Wa’ad based Standard
  • ISDA-IIFM Two Unilateral and Independent Wa’ad based IFX Forward Standard Confirmation
IIFM Standard - 8
ISDA/IIFM Islamic Foreign Exchange Forward (IFX Forward) – Single Binding Wa’ad based Standard
  • ISDA-IIFM Single Binding Wa’ad based IFX Forward Standard Confirmation
IIFM Standard - 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)
    Second Leg Cross-Currency Swap (Wa'ad - Two Sales)
IIFM Standard - 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
    Operational Guidance Memorandum
IIFM Standard - 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
    IIFM Wakala Operational Guidance Memorandum

Standards In Progress

IIFM Standard - 11
IIFM Risk Participation Agreements
Coming Soon
IIFM Master Funded Risk Participation Agreement - 1st Draft
IIFM Master Unfunded Risk Participation Agreement - 1st Draft
IIFM Standard - 10
Credit Support Arrangement Standardization
Coming Soon
IIFM Standard 10 - Document 1

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