<p><span>The International Islamic Financial Market (IIFM) and ISDA today announced the publication of the </span><a href="https://www.isda.org/a/HVtgE/IIFM-IBOR-Fallback-Definitions-Booklet-for-Islamic-Hedging-Transactions.pdf">ISDA/IIFM IBOR Fallback Definitions Booklet for Islamic Hedging Transactions</a><span>, which will enable firms that transact under relevant documentation to agree to robust contractual fallbacks for certain key interbank offered rates (IBORs). IIFM and ISDA have also published an </span><a href="https://www.isda.org/a/rVtgE/IIFM-IBOR-Bilateral-Amendment-Agreement.docx">ISDA/IIFM Shari’ah-Compliant Bilateral Amendment Agreement</a><span> template to enable institutions to agree with their counterparties to incorporate the fallbacks for existing Islamic hedges. </span><span> </span></p>
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