The ISDA Islamic Finance WG has been set up to discuss documentation as well as legal and regulatory issues affecting trading in OTC derivatives transactions with counterparties in Islamic jurisdictions.

Documentation: A joint Working Group of ISDA and IIFM (International Islamic Financial Market) has drafted a joint document to facilitate Islamic industry’s hedging transactions, The ISDA/IIFM Ta’Hawwut Master Agreement. Version 1 of this document is schedule for submission for final Shari’ah review and approval starting Dec 08. The IIFM secretariat is coordinating the Shari’ah review and approval process by scholars on IIFM Shari’ah Advisory Panel. Ancillary documents and the additional templates specific to Islamic Finance hedging products are under discussion.

  1. The GCC region

  2. The wider Middle Eastern region

  3. The Far East

ISDA is in contact with various regulators and legislators in the GCC region and beyond in the context of improving the legal framework for derivatives generally and the enforceability of close-out netting and financial collateral arrangements in particular.

How to Join



  Last Updated: July 14, 2008