Innovations in Islamic Finance 2015: Nasdaq Dubai Murabaha platform

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Adviser: Emirates Islamic

There has been an odd arrangement at work for Islamic financial institutions needing quick, liquid access to liquidity: they have been going not to some local market, nor to each other, but to the London Metal Exchange. It makes sense: the LME is a peerlessly liquid market for commodities, which clearly fit the bill of Shariah compliance. But wouldn’t it...