The International Swaps and Derivatives Association is writing to capital markets regulators in the Middle East to see whether its derivatives documentation can be used in Islamic jurisdictions.
Isda is drafting a letter that it hopes to send to financial regulators in Bahrain, Kuwait, Qatar, Saudi Arabia, and the UAE this month.
The letter will ask them to help solve problems that Isda members have encountered when using the Isda Master Agreement on deals subject to Shariah law.
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