MANAMA, April 6 -- Ithmaar Bank, a Bahrain-based Islamic retail bank, has signed an agreement with the Bahrain Bourse allowing the Bank to utilise the Ijara Sukuks issued by the Central Bank of Bahrain (CBB) as underlying assets to complete Murabaha Finances using an innovative, Sharia-compliant brokerage service introduced by the Bourse through its electronic platform.
The announcement follows a signing ceremony that was hosted entirely online with the Bahrain Bourse Chief Executive Officer, Shaikh Khalifa bin Ebrahim Al Khalifa, the CBB Executive Director of Banking Operations, Shaikh Salman bin Isa Al Khalifa, and the Ithmaar Bank Chief Executive Officer, Ahmed Abdul Rahim, each signing an electronic copy during a live video call.
"Ith...