Isda to launch Islamic master agreement

LONDON - The International Swaps and Derivatives Association (Isda) will launch an Islamic version of its master agreement by year-end, according to a senior official.

The contract will be co-launched with Bahrain-based International Islamic Financial Market (IIFM), an Islamic finance development body supported by Islamic central banks and government agencies. The Isda/IIFM Ta'hawwut Master Agreement draft will undergo final consultative discussions at a United Arab Emirates meeting of Islamic

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Mixed forecast for FX

LONDON - Foreign exchange teams will avoid the worst of the job cuts in the City of London, although market sources warn no-one will be immune from redundancies.

Another FX trader fined

STOCKHOLM - Sweden's financial regulator has imposed a maximum penalty on Forex Bank for insufficient money laundering controls, signalling a global clampdown by regulators on risk management failings at retail foreign exchange institutions.

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