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New proposals would raise the capital requirements for the largest and most important banks by 9%, down from 19%
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Bank Negara signs deal with Saudi Hollandi
DUBAI — Bank Negara Malaysia, Malaysia's central bank, has announced the execution of a Commodity Murabahah agreement with Saudi Hollandi Bank of Saudi Arabia in Dubai. Saudi Hollandi is the first Islamic banking institution outside Malaysia to a sign a Commodity Murabahah agreement with Bank Negara Malaysia.
The Commodity Murabahah Programme (CMP) introduced by Bank Negara Malaysia in March this year, is part of its diverse range of policy instruments in managing short-term liquidity in the Malaysian Islamic interbank money market.
Commodity Murabahah is a cash deposit product based on the globally acceptable Islamic concept of underlying commodity transactions to facilitate liquidity management and investment. The CMP is a commodity-based transaction that utilizes crude palm- oil based contracts as its underlying asset. Earlier this year, Bank Negara Malaysia had executed master agreements with eight Islamic banking institutions in Malaysia.
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