Malaysian Islamic derivatives market gets boost with Tahawwut schedule development

MALAYSIA: Islamic banks in Malaysia are inviting corporates, other financial institutions and statutory bodies to adopt the new Tahawwut Malaysian schedule for their Islamic derivatives and hedging transactions amid market volatility triggered by the pandemic.

“The introduction of the Malaysian schedule is timely amid the rising global market uncertainty and demand for innovative shariah compliant financial products,” said Norashikin Kassim, the chairperson of AIBIM’S treasury and market committee.

Following the development of the schedule, AIBIM organized a refresher course led by experts from the ISDA and Shearn Delamore & Co for its 26 member banks.

The Malaysian schedule is expected to strengthen the local Islamic derivatives and hedging market, which, according to industry players, still needs mass and standardization even as its transactions have gained popularity over the last decade.

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