BAHRAIN: The 29th International Islamic Financial Market (IIFM) board of directors meeting was held this week. The board reviewed IIFM development initiatives in areas including Islamic capital and money market standardization and collateralized Murabahah liquidity management documentation. The board also confirmed the decision to implement the IIFM Sukuk standardization initiative to develop guidelines which will help the primary and secondary Sukuk market and the development of Sukuk structure and documentation standards.