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

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)
    Second Leg Cross-Currency Swap (Wa'ad - Two Sales)
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
    Operational Guidance Memorandum
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
    IIFM Wakala Operational Guidance Memorandum
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
    Wa'ad based - Two Sale
    IIFM PRS Product Explanation

Standards In Progress

IIFM-9
Credit Support Arrangement Standardization
IIFM 9 Document 1
IIFM 9 Related Document 1
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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