Islamic banks will get more money market instruments

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Shariah-compliant financial products coming to the market in the next few months will offer a potential to significantly boost the profit of Islamic banks, experts said. International Islamic Liquidity Management, which has the backing of 11 central banks, is set to sell its first short-term bills early in 2011. The Islamic Financial Services Board in Kuala Lumpur, Malaysia, said demand for products that comply with Shariah law is increasing 15% a year.

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