Resurgence in demand for structured products
LONDON - Standard Chartered last week closed its maiden European structured foreign exchange hedging deal with European Islamic Investment Bank.
The Sharia-compliant hedging structure incorporates an optionality component that requires exchange of commodities for each leg of the structure. The deal is based on the bank's newly developed musawamah documentation, where a seller is not obligated to disclose the cost of the structure's underlying assets. This is usually done where a structure
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