What are the challenges that still exist among Islamic banks in relation to their treasury requirements and what should be done to further its development?
The implementation of Basel III will result in many Islamic banks having to hold more liquidity in line with their monthly deposit run-offs. There have been important initiatives to provide suitable Shariah compliant liquid instruments, including the path-breaking establishment of the Malaysian Islamic interbank money market. Individual Islamic banks have also sought their own solutions, with most recently Kuwait Finance House establishing a liquidity house to manage their treasury assets. A major challenge is to provide treasury facilities in multiple....
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